I’ve been doing my mailing for 8 days now. I’ve had one call, but granted, i’m ONLY targeting one town, and only lis penden’s recorded (pre-foreclosures).
My start date was Oct. 15th for when the Lis Penden’s were filed. So far, Oct. 30th, 42 have been filed.
Thus, it’s taken 42 mailings to get 1 call so far. My follow up approach is the same mailing, once a week, for 4 weeks. Honestly, i don’t know how long homeowners have here (Illinois) from the time the suit is filed, till the time they foreclose. So 4 weeks may not be the optimal number. I’m going to keep it fixed for now though as a control.
I’m using a yellow mail campaign. Hand written everything, you know the scoop. The lady who did call me actually thanks me, said bless me, etc. She seemed very appreciative of the fact that i put in the time to handwrite it.
I’ll keep everyone posted on how it goes. The one thing i like about mailing as opposed to my bandit signs out there, is i already know their name and address. That way before i return their voicemail, i can research the property, have a ballpark price range (zillow, local comp’s, etc), research title, etc. I really like the ‘control’ of direct mailing.
Then again, my bandit signs are cheap, easy, and not time demanding (put them out and let them work), as opposed to constantly writing letters, keeping up with follow up plan’s, etc.
I’m looking forward to closing my first deal, and then letting an answering service take my calls so i can concentrate on marketing and closing deals.
Right now i have 2 jobs, i’m a college student, and every inch of time and money i can put into this business, i am. Being able to outsource taking calls, prescreening the leads, and calling those who i can actually help would be a great advantage.