Direct mail campaign~tax liens or bankruptcy list?

I have limited marketing $ and want some expert advice! I have a lead list for both pple who have tax liens on their property and for those who filed bankruptcy...I can't mail to them all (lists are too large!) What would you recommend and if you have suggestions/comments concerning the pros and cons of marketing to either group...please offer them!

Michael G.

Wholesaler · Bay Shore, New York

232 posts
3 awards
50 influence

Apr 07 '11, 03:53 AM

Hi Gail - Long Time! I would start with a group of properties in an area you really like and beat them over the head with your marketing. You know alot of marketing is follow up so I hope you have a sequence of letters planned. Send a letter every week. What's been the most effective for me is letter, letter, phone call. Especially if its a property you really like. That way when you call its not like a cold call. Send something in the envelopes like some flower seeds with a note saying "Time to spring into action!" I'm sure they are getting a boat load of letters reminding them that they have an issue so someting to separate your self from those mail peices is good. If the marketing you are sending has educational value like "why selling your home if you are in bankruptcy makes sense" it has a lot of value. I'm sure you have those bases covered in your marketing to these 2 specific groups. Last time I talked to a guy who was in bankruptcy he couldnt care less about performing a short sale on the house because the mortgage debt was discharged by the bankruptcy. Good luck!

George P.

Real Estate Investor · Baltimore, Maryland

1,289 posts
8 awards
54 influence

Apr 11 '11, 01:30 AM

divide the two lists in half and mail to half of BK and half of tax-liens
what is your strategy with BK leads? Are you prepared to do the SS (in my experience almost all of BK's are upside down, so you're gonna have to negotiate with the bank.

Gail Smith

Real Estate Investor

21 posts
1 award
50 influence

Apr 11 '11, 02:00 AM

Hi Mike...long time indeed! I'm going to call you! George..thank you for your response...It really helped me focus because I've done a short sale and I'd prefer to stand clear for now...in fact...the owner did file bankruptcy and his lawyer said not to work with me because it would not help his situation in any way...I'll just mail to the tax liens for now and spend some $ on bandit signs!

George P.

Real Estate Investor · Baltimore, Maryland

1,289 posts
8 awards
54 influence

Apr 11 '11, 03:53 AM

Originally posted by Gail Smith

Hi Mike...long time indeed! I'm going to call you! George..thank you for your response...It really helped me focus because I've done a short sale and I'd prefer to stand clear for now...in fact...the owner did file bankruptcy and his lawyer said not to work with me because it would not help his situation in any way...I'll just mail to the tax liens for now and spend some $ on bandit signs!

Search the marketing forum - bandit signs are discussed often

Troy Funk

Residential Real Estate Broker · Sarasota, Florida

1 post
50 influence

Apr 13 '11, 11:50 AM

I have always learned it is better to contact 1 person 6 times, then 6 people 1 time. Otherwise plan on doing 6 mailings or don't start!

Mike Johnson

Real Estate Investor · New York

3 posts
50 influence

Apr 16 '11, 04:26 AM

I would second the advice about sending multiple mailings to a smaller sub-set of people.

To take it further, I would mail 2 different versions of my letter and test to see which garners the greatest response. Testing and repetition are key!

Michael G.

Wholesaler · Bay Shore, New York

232 posts
3 awards
50 influence

Apr 16 '11, 12:08 PM

Six sounds good. Sixteen sounds better. Twenty Six might just do the trick! I was reading a book called the Ultimate Sales Machine by Chet Holmes. He refers to these repeated contact attempts as prospecting with "pig headed determination" . In other words, dont stop until I actually talk to the person I am trying to reach. Then he takes it a step further and says if they tell me no... keep trying them until I get a YES. Massive follow - up. He said it took 2 years for him to get an appointment with one of his prospects but it turned into a million dollar payday for him. Very powerful stuff...

George P.

Real Estate Investor · Baltimore, Maryland

1,289 posts
8 awards
54 influence

Apr 17 '11, 10:30 PM

Why not choose one prospect and follow up with him/her daily until he/she sells you the house? That's only 365 follow-ups in 1 year. Sounds much easier than 3 letters to 120 people.