Here is how my road to the first No came from my direct mail campaign.
June 8, 2014 I ordered my list from Listsource of the following criteria:
40% + equity
7+ years ownership
and for my zip code it spit out 313 names.
Next I sought out the direct mail fulfillment center. After pricing 3 companies, Yellowletters, Postcard Mania, and Vistaprint I went with Vistaprint. I went with Vistaprint for 2 reasons. The first one was the quantity I needed was low and the second was the price. The price for 500 count (5.47" x 4.21") postcard was $20.65, color back side $8.23 for a total of $28.88. Shipping a processing was $23.12. Sales tax was $4.13. The grand total was $56.13 for 500 postcard. I need to back up a bit and mention that I went through the list for duplicate address and that brought my number down to 291. Next came the postage for all these postcards. For 291 .37 cent stamps came to $98.94. Now the only bad thing about using Vistaprint is the way I drafted up my postcard they would not be able to address both the mailing address of the absentee owner and the property address. So that did take me some to address 291 postcards with the name, mailing address and property address of my absentee owners. I finally got all the cards addressed and sent out July 30, 2014. 2 days later I get my first call from my direct mail and here I am thinking Great and can not wait to get off work to call him back. Google voice had sent my a transcript of the voice mail. I get off work,get home, show my wife the transcript and prepared her to make the phone call. When she called the home owner back he informed us that is rental property will never be for sale and even when he dies it will never be for sell and go to his family. I doubled checked the name and it was in a trust, which I did not catch, when I addressed the postcards initially. So now we can breathe a sigh of relief that we got out first "NO" out of the way and this will bring us that much closer to getting a yes.
We welcome any and all constructive criticism that will help up grow.
Thank you for all your help.
Awesome. Thanks for letting us know the pricing. I've been wondering if I should make that initial investment to mail to sellers but thought I would need to save more. Hope something great comes from it.
@Rob Ringlehan I thought that I just need to take action. So I aligned my ordering of my list, postcards and postage with my paydays and went to work. So it took a while but I did not want to save up enough money to start climbing the ladder.
@Christopher Hunter congrats.
@Michael Q. thank you sir that means a lot coming from you.
just keep it up and mix it up. And when u re pull your list in five months tweak it a little.
@Michael Q. how do you mean? Do you mean equity? I know on your last podcast you said 30 is the new 40
we should chat. I don't care who you buy from just want to help. A little tweaking is in order.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!