Originally posted by @Ray Lai:
Originally posted by @Terrance Branch:
Hey, I have recently decided to send out some direct mail to a list of houses in the Raleigh, NC area that I have built on my own. Basically, I have been driving for dollars looking at houses that have potential. I have been building my real estate knowledge lately. I have a background in construction. My family has owned a small remodeling and construction business in the Raleigh area for over 20 years. I'm curious on what I should do next? I'm not in the place to finance these deals on my own. I would love to find these deals and offer them to someone else to buy while also getting paid in the process.
I've been listening and researching on bigger pockets, everyone always says that if you find the deal the money will come.
Any guidance is greatly appreciated.
Thanks!
Terrance, great job taking action. Here are things you need to prepare for to be successful with your campaign:
1) Do you have enough money saved up for a sustained campaign of at least 200 addresses and can mail them at least once every 3-4 weeks, for at least 6 mailings? If not, go hustle for some cash to be able to sustain your campaign.
2) Do you have the system built in place for your funnel: ready to answer that number without letting it go to voicemail, have a website landing page to capture the lead if you include a link in your DM.
3) Do you want to maximize your response rate? Get a area code that is familiar to the people you're mailing to if you want to increase their comfort. You can always add the phone number to your 2nd mailing.
4) Are you familiar with the questions to ask a seller to see if they are distressed or not?
5) Do you have buyers ready in that area for when you close a deal?
6) Do you have access to MLS or comps to know the ARV of the property you're buying?
7) Do you have the contracts in place for them to sign when you close the deal?
8) Do you have a title company or escrow lawyer (state dependent) to help finalize the paperwork?
Make sure your ducks are in a row for the calls you're going to get.
Hey, thanks for your feedback! You are absolutely right about having my ducks in order for the calls I receive. I think that's most important for me at this point.
1. yes, I have enough money to be able to sustain the campaign.
2. I'm working on that system now. I'm ready to answer just not exactly sure what to expect.
3. Done. I have google voice number for the area
4. I have about 6-7 questions ready to ask the seller. What series of questions would you recommend?
5. No, I don't have buyers ready to go. I've been trying to figure out the best way to grow my buyer's list. I have a few meetings set up later this week so hopefully, a few buyers come from them.
6. Also, have a meeting with later this week to discuss MLS access.
7. No contracts in place. I'm open to any recommendations on how to go about this as well
8. Yes, I have lawyers in place but no title company.
