All Forum Posts by: Justin S.

I do a combination of letters and postcards. My first is usually a letter, followed by two rounds of postcards. I mail everything about a week apart. Right now, I'm only marking to pre-foreclosure.

You can do a forum search for techniques. I know some people use yellow letters, greeting cards, postcards, etc. I haven't done yellow letters but I hear they are effective.

The response rate has slowed down lately. I think its because everyone is trying to do loan mods or waiting for Obama to bail them out. A lot of calls I get now are from failed loan mod people who have no other alternative.

I know in my area I'm competing with about 9 other direct mailers, so I try to get to the homeowners first. The areas I target produce about 500 new leads a week. Do anything you can to get them to open the envelope. Also, expect about a 10% non-deliverable rate. Remove those from your list before your next mailing to avoid paying extra postage.

I do a combination of letters and postcards. My first is usually a letter, followed by two rounds of postcards. I mail everything about a week apart. Right now, I'm only marking to pre-foreclosure.

You can do a forum search for techniques. I know some people use yellow letters, greeting cards, postcards, etc. I haven't done yellow letters but I hear they are effective.

The response rate has slowed down lately. I think its because everyone is trying to do loan mods or waiting for Obama to bail them out. A lot of calls I get now are from failed loan mod people who have no other alternative.

I know in my area I'm competing with about 9 other direct mailers, so I try to get to the homeowners first. The areas I target produce about 500 new leads a week. Do anything you can to get them to open the envelope. Also, expect about a 10% non-deliverable rate. Remove those from your list before your next mailing to avoid paying extra postage.

Stephen-

I do direct mailing and it works. You only recieve a small percentage of return calls but the leads are usually good leads.

You will need to at least mail them three times to get a good response rate. Don't give up after your first mailing.

If you are doing preforeclosure, signup with a good website. The national websites are usually 2-3 weeks later than a good local website. Meaning, they've already received letters even before you know they've hit foreclosure.

Hi Harrison-

I'm trying to do the same model as Crosswind. I have 3 in work right now. I still try to get the POA, because a lot of homeowners in AZ are from other places, so they tend to move back "home". I may never hear from them, so I always try to get the POA. Just my advice. Some are still hesitant though.

Transactional funding is around 2% like stated above as well.

What if Enron goes bankrupt? You lose your money and move on. Real estate investing is a risk just like all other risks. You identify the risks upfront and mitigate them. The "what ifs" are rare occasions and make good bonfire stories.

It is as fast as your data connection is with your phone service provider. I think Sprint has 3G speed, so it would be pretty good. I use T-mobile and they have a lot slower data rate speed. I would compare it to a modem like speeds. I wish I had 3G.

I've heard that paying through a credit card is a bad idea, especially if you are trying to evict a tenant. I believe under the eviction rules that you cannot accept any payment or partial payment if you want to evict a tenant. So, if the tenant does make a partial payment to you then you cannot evict them. With a check, you can simply not deposit it.

Am I blowing smoke or is that valid advice?

How do you bust jerks, where do you send the compliant?

For business purposes, I'm a blackberry junkie. The battery life is by far better than the iPhone. One of my buddies with an iPhone can barely get through the day without having to recharge. Also, you can use the blackberry as a modem for your laptop. Plug it in through the USB and you have instant internet access. I'm guessing the iPhone can do this as well, but you'll drain the battery rather quickly.

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