Direct Mail & Condenmed Property

Bird Dogs, Wholesaling
1

I read my first real estate book several years ago. Since then I’ve read many books and thousands of pages about wholesaling real estate. It’s stayed on my mind for a few years. Relocated to a new city and have been diligently working everyday towards freeing myself from my J O B. Amazing how difficult it was to settle in a new city and get back on track.

Anyway I’m jumping into the abyss… about to get my feet wet. Websites completed, preparing to begin my first marketing campaign. I had a few questions for anyone that has advice to offer.

I have found three reputable wholesale companies that I can bring my deals to until I feel comfortable to go out on my own. My referral fee will be between $500-$2500 unless I feel comfortable negotiating more.

I decided to attack by three methods. Mass mailing of postcards to fish for motivated homeowners, online leads and searching for the homeowners of condemned or vacant property in target neighborhoods.

I read that I could obtain a list of condemned property from the local compliance officer. Searching online for awhile today, can’t figure out how to get a hold of this person. Any ideas?

Also, as far as the direct mail campaign goes. 1,000 postcards to homeowners sounds like a nice round number. Curious if anyone that has experience with direct mail campaigns could give me a heads up on the range of how many calls to expect per 1,000 mailings.

Should I focus on a buying a list of divorces/bankruptcies/estates etc. or am I better off just farming a neighborhood and getting my company name out (in regards to the mass mailing)?

I just wonder if it’s going to be enough. :bobble

Never is.

Am I at least on track? Thanks fellas.

B

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Barracuda - welcome! My only experience with direct mailing… I mailed to approximately 100 owners of distressed properties I identified in a neighborhood I liked… I got maybe 3 or 4 people calling me to ask me to not mail again. One called to state that his dad forgot to pay the mortgage and that the house was not being foreclosed (he thought I found the house through some sort of list of properties going into foreclose). And one potential seller - an investor from out of state. I ended up not pursuing the deal because I didn’t know what to do next… :O(

Anyway - I sent only one letter/postcard to them and got one potential. Not sure if the response rate was good or not. I felt good… :O)

My suggestion - if you do the mailing, please, please, please… be prepared to analyze the deal and close. Don’t do like me that invested in the marketing only to find out that I was not ready…

Good luck! Keep us posted!

3

I mail to my database of roughly 350 prospective sellers (which includes single homeowners, out of state owners, and possibly many people with a financial problem) every month. It seems I only get contacted after the 2nd or 3rd mailing. Keep mailing to your database every month.

As one of the gurus (Ron LeGrand) says, “Time and circumstances will change sellers minds”. People may not keep your first postcard or it may not register with them on the first few mailings, so keep at it.

Good luck!

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Ron Legrand was the first author I ever read. Thanks for your input.