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Author Topic: How did I mess up my second mailing campaign?  (Read 10755 times)

Offline Redstar1324

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Re: How did I mess up my second mailing campaign?
« Reply #15 on: December 15, 2016, 04:00:01 pm »
Rando,

Do you really use the Zestimate?

Offline Luke9686

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Re: How did I mess up my second mailing campaign?
« Reply #16 on: December 15, 2016, 04:10:01 pm »
If you paid $1 a lead through list source then you had too many filters.  I just created a quick list in Orlando, absentee owner with 40% equity, removing duplicates and came up with 16,205 leads for a price of $2850.  That breaks down to about 18 cents a lead...

Offline Redstar1324

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Re: How did I mess up my second mailing campaign?
« Reply #17 on: December 15, 2016, 04:27:49 pm »
If you paid $1 a lead through list source then you had too many filters.  I just created a quick list in Orlando, absentee owner with 40% equity, removing duplicates and came up with 16,205 leads for a price of $2850.  That breaks down to about 18 cents a lead...

Okay I see that. If I'm buying only 1000 at a time, I wonder how I can avoid getting duplicates on different purchases.

Offline javipa

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Re: How did I mess up my second mailing campaign?
« Reply #18 on: December 15, 2016, 06:05:09 pm »
If you want to get rid of duplicates, then get your lists in excel format, merge them, and then sort for duplicates. 

We haven't talked about over-sifting listsource.com, but Luke is exactly right about using too many filters.

I just sifted for free and clear houses with in-state and out-of-state, absentee owners; no condos, town houses, or manufactured homes, and it gave me 3,436 records.  With duplicates removed it cost $622.00 or 18.10¢/each.    

Mailing 3x5 postcards through Click2Mail.com cost .34¢/each or $1168.24

$   622.00  List (3,436 Records)
$1,168.00  Postage/Supplies
$1,790.00  Total Initial Mailing Cost  or .52¢/each

I can resend this same list for $1,168 or .34¢/each.   You can send the same list over and over.

 

.
« Last Edit: December 15, 2016, 10:45:45 pm by javipa »
"149 Ways (Plus One) To Find Motivated Sellers..!"  -Free Report-
>>> Click: http://sub2marketdomination.com/how-to-find-motivated-sellers-2/

Offline Redstar1324

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Re: How did I mess up my second mailing campaign?
« Reply #19 on: December 15, 2016, 06:57:36 pm »
Thanks.

Is it really worth it to send the same list? Might they be interested the second time but not the first?

Offline javipa

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Re: How did I mess up my second mailing campaign?
« Reply #20 on: December 15, 2016, 11:01:33 pm »
It's hard to justify the expense of ongoing marketing when you haven't turned a buck on anything you've done to date...  BUT once you have, you reinvest those profits into marketing for at least four reasons... (and more)

1)  To catch ripened fruit as it drops (not to ripen the fruit).
2)  To become the only person sellers think to call.  (Branding)
3)  To remain in the minds of sellers. (Consistency breeds familiarity and credibility)
4)  To attract referral business.  (This builds on itself)

At this point, you do what you can do, and call it a day.  No matter, this is a numbers game, and the more you play the numbers, the more times you win.  The issue is knowing how to shuffle and deal the cards.  This has been a steep learning curve for you, since you insist on dealing the cards with your toes, and shuffling them with your teeth.
« Last Edit: December 16, 2016, 11:48:53 am by javipa »
"149 Ways (Plus One) To Find Motivated Sellers..!"  -Free Report-
>>> Click: http://sub2marketdomination.com/how-to-find-motivated-sellers-2/

Offline Redstar1324

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Re: How did I mess up my second mailing campaign?
« Reply #21 on: December 16, 2016, 09:37:12 am »
Gotten 2 calls. Everyone wants FMV or better.

This business makes no sense. Why would anyone sell their house for so little?
« Last Edit: December 16, 2016, 09:52:47 am by Redstar1324 »

Offline Luke9686

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Re: How did I mess up my second mailing campaign?
« Reply #22 on: December 16, 2016, 12:59:03 pm »
You're right it doesn't work...

I signed up a five house deal this week for $185K.  FMV is around $300K, they need little work and are all rented by long term tenants.  I've already got buyers for three of them, just need to find buyers for the other two...  should make around $20K on this deal.

If I could find private money, I'd buy them and owner finance them at 110% market value with large down payments.

Offline Redstar1324

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Re: How did I mess up my second mailing campaign?
« Reply #23 on: December 16, 2016, 01:19:34 pm »
Why are your people giving you such good deals?

Mine all want FMV or better.

Offline Luke9686

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Re: How did I mess up my second mailing campaign?
« Reply #24 on: December 16, 2016, 01:39:03 pm »
Because I sent mine using the techniques suggested in this thread, which means my response rates are higher.  Essentially the pond I'm fishing in is larger because more people are seeing and paying attention to my marketing.

Also, when I was new I did zero prescreening over the phone, at the suggestion of my mentor.  When people called I simply set the appointment and went.  You learn many things when you do this.  People lie, people say some things on the phone that they wouldn't in person, it's hard to negotiate over the phone, etc etc.  Putting in the work in the beginning is necessary.

Offline Redstar1324

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Re: How did I mess up my second mailing campaign?
« Reply #25 on: December 16, 2016, 01:53:10 pm »
So what should I do? I currently just ask over the phone and don't even see the house.

I DON'T WANT TO SPEND MY WHOLE LIFE DRIVING TO SEE HOUSES.

I WOULD RATHER KILL MYSELF.

Offline Luke9686

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Re: How did I mess up my second mailing campaign?
« Reply #26 on: December 16, 2016, 02:09:56 pm »
It sounds like you plan on mailing 1000 letters per month, that's a good plan.  I personally would send letters in hand written font, with a plain white #10 envelope with the same hand written font.  And don't lick the envelope, just tuck the flap.  People have told me this alone has caused their curiousity to open it.  I would send 250 a week and cycle through the list every couple months.

If it were me, I'd use the initial call to gather some basic information then schedule the appointment.  Go see every house, make an offer on every one.  Know what you're going to say before going on the appointment.  Say the same things every time.

It's kind of like being a master tradesman.  Nobody shows up day one with all that knowledge.  They start as an apprentice doing all the B work for the journeyman.  That's where you're at right now, you're at the B work phase.  If you're not willing to do it stop right now.

If you are, take the advice given and use it.  Don't deviate from it, until you've done a ton of deals and developed your own systems...

That's the last question of yours I'm going to answer.  You've been given the knowledge, now go forth and prosper.

Offline Redstar1324

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Re: How did I mess up my second mailing campaign?
« Reply #27 on: December 16, 2016, 02:14:45 pm »
I'll do the A work for a month, tops.

It's not worth it to me.

I'd rather commit suicide than spend my life doing that.

Offline javipa

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Re: How did I mess up my second mailing campaign?
« Reply #28 on: December 16, 2016, 03:31:39 pm »
Yeah, I would quit, too if I had to reinvent the wheel every time I woke up to real estate investing, and could do nothing consistently.

I don't think real estate investing is for you.  You hate everything involved with it, and have said as much.  You're bored by routine, and you would rather kill yourself than do the basics involved in this business.  I understand. 

So, just find something different that you love, and stop pounding your head on the pavement.

That said, I don't like busy work either.  It's boring.  So, I automate as much as possible.  For example, I won't fold and stuff letters, lick envelopes, or apply labels in bulk myself ...ever.  Instead I focus on delegating those tasks, and sending the right message to my market, and not focus as much on the medium. 

As a result, I love postcards.  They get read.  Letters don't. 

I'm not saying don't send letters.  I'm just saying I don't send them out in bulk, and I don't send them to homeowners.  I only send letters to commercial and multi-family investors.  And twenty-five letters is my limit per day.

Meantime, I automate at least the following:
*  Sending incoming sellers to live phone.
*  Sending incoming buyers to voice mail.
*  Sending the same 3x5 DM piece every 4-6 weeks through a mailing service.
*  Sending to the same list over and over.
*  Using 1-page escrow instruction.
*  Relying on a scripted presentation to disqualify suspects, so I waste as little time with losers as possible.
*  Only make in-person offers, when/if all the decision makers agree to show up.

Making offers should become routine, when you stick with a script.  This way you say the same things, in the same way, and in the same order to every suspect.

However, this is all too difficult and boring for some, and they need to quit and do something easier and less sophisticated.
"149 Ways (Plus One) To Find Motivated Sellers..!"  -Free Report-
>>> Click: http://sub2marketdomination.com/how-to-find-motivated-sellers-2/

Offline Redstar1324

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Re: How did I mess up my second mailing campaign?
« Reply #29 on: December 16, 2016, 04:34:57 pm »
Well I just need to automate going to view houses. I don't even mind taking the calls, that's at least optimistic that this is going to work.

 




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