All Forum Posts by: George Rodriguez

Hello Bigger Pockets community and friends! I'm looking for a recommendation to a multi family community lender in Indianapolis Indiana? Greatly appreciated.

@Jerry Puckett I've been adding to the list every other week when the new entries are added. I met with an administrator to look at a home a couple days ago. They told me they had received 25 letters and decided to contact 6 of those which included myself.Not all of them have gotten the 3rd touch mark. I will re-assess once I have mailed the complete list 4 to 5 times each. So I'll continue with the current batch and not keeping adding new entries so I can focus marketing dollars exclusively on doing multiple touches each. 

@Ehsan Rishat I agree I don't want to be one of those direct mail marketers. ; ) I'm going to at least keep mailing the list that I currently have sent out 1 to 2 pieces to and continue the campaign. 

@Avery Gilmer Thank you. I’m considering other sources for leads as well. I can imagine the real estate market in Arizona is very competitive as well. Best of luck to you !

@May Emery  I was expecting a return of 2%  to 3% from this list while spending close to $1 per mailing piece including postage. 

@Mark Pedroza The PR 's do not have the house in the MLS. This is from a third party list.

I've been running a hand addressed envelope with a first class postage mailing campaign to probates for the last 3 months. I've sent out about 1105 pieces with 1/2 of those being a 2nd or 3rd mailing. I've only received 8 responses. That is less than a 1% return. I've made one offer and the heir decided to list the house in the MLS instead for more money than what I had offered.

A year and half ago using the same envelope, letter and source for the list I would had received about 5 responses per every 200 mailings. I also have purchased a handful of probates in the past with great success. So I was optimistic going in and picking up the on the same mailing campaign.  While I am accepting that the market might be more competitive today than 18 months ago I am starting to wonder if I should just keep mailing the existing campaign or look for something that might bring a better return on investment. I am not normally not one that would bail on the first sign of adversity but I still want to be prudent with my hard earned money. What do you think ? 

Thank you for your response

@Adrien C. Sure we can discuss. I'll message you.

@Sean Carroll I've only done 91 as a second mailing of the total of 623 for List B.  

I've started a mailing campaign with two separate mailing lists. So far I've got the following results. The number of mailings include 1st and 2nd mailings. I'm planning to send out 3rd, 4th and 5th follow ups.

List A- 908 hand addressed envelopes= 9 calls ( .99% return) 2 closed deals (.22% return with a 30k + profit possibility) 

List B- 623 hand addressed envelopes= no call and no closed deals thus far. Only one call to take off mailing list.

I'm considering stopping the mailing campaign to List B but it might still be premature. And/or I can increase List A although there is a limited number of addresses to mail to when the intention is to close more 15 deals in the next 6 months.

What is the number of minimum mailings to heavily consider canceling a campaign? 

I would look into a Solo401k. There are different vehicles to invest in Real Estate and other alternative investments while saving on taxes.