I began my marketing campaign about 3.5 months ago and am a little dissappointed in the lack of response. I am hoping the experts in this forum could help me become more effective.
I have a three pronged plan described below:
- Weekly ad in the Penny-Saver/Ad-Lines magazine. Not one of the timy 3 liners but a business card sized ad.Basically it says “We buy houses for cash: Real Cash - Real Fast: Say goodbyew to problems with foreclosure, bad tenents, liens, repairs, …” with some house/cash graphics
I’m using the weekly Penny Saver/Ad-Lines since the local daily newspaper carries 5 or 6 classifieds daily for “we buy houses”.
- Direct Mail: I research at the county court house each week to get list of Lis Pendens filed that week as well as probates filed with real estate for my target areas. I get around 10 leads every week. I send a hand addressed envelope with letter and 2 page “Forclosure Resolution Tips” and business card to the Lis Pendens. The executor/rix gets a letter expressing sysmpathy and interest in purchasing estate property for cash.
Also letters sent to vacant and/or run down properties as I discover them.
Lis Penden letters are followed up by post cards once/week.
- Bandit signs at strategic locations (entrance/exits to subdivisions) in my targeted area. I’ve placed about 30 bandit signs. They stay up around 3 - 4 days before they dissappear. I replace tham as necessary
Results after about 2 months of effort:
A call from 2 different sellers each looking for full market value (generated byAd-Lines)
1 Call from bandit signs looking for full market valus
1 property under contract from direct mail (in August, 3rd letter I ever sent) to vacant property Settlement scheduled for next week. Property being bought at about 70% FMV - $15K repaits All told, sale price is approximately 55% of ARV.
Although I started with direct mail in August, the Penny Saver has been going on for about 6 weeks, the bandit signs have been out for about 3 weeks.
Total marketing investment so far = $2k
Any ideas to become more effective??
JMD