BiggerPockets

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.

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 love direct mail. For large mailings like NOO and OO with equity I use post cards. Usually those mailings are over 500 pieces. When I do a smaller list like Probate and Driving for YUCKS and FSBO's I use my Greeting Cards. You can do the same with letters.

But you need to do multiple mailings.

I am adding bandit signs to the mix after a 18 month absence

Justin,

I harvest the names myself. I wait until the notices come out in the paper. Type the deceased's name into the tax roles and if they have a home they get a greeting card.

I also find that using direct mail is very beneficial. It does take time to get the momentum built up but once the machine is rolling in an area I have received calls from folks that have held onto my contact information for quite literally years. Now that is rare but still amazes me how long some folks hold onto this information.

Many Realtors are getting in on the direct mailings for pre-foreclosures. Any suggestions on what to write to steer then away from a Realtor ? I know why we are better. I just have to convince the homeowner!!!