Hello BP community - I just did a search on listsource.com and narrowed it down quite significantly for my zip code using absentee owners. How do I know if I have a good list? Is this just trial and error? Seems like it could add up to a lot of $$'s pretty quickly if just using trial and error. Any good suggestions are appreciated. Thanks.
What is your goal? Do you want to fix and flip? Do you want to wholesale? Are you looking for multifamily rentals? Your list will be different for each of these situations.
You could use only high equity, because those are deals where they could drop the price, for a possible wholesale deal.
Houses that were recently purchased won’t have much equity, and motivation may be lower...so houses that were purchased in the past 1-3 years...or longer...may not be owned by people who are motivated to move.
Do you want SFR properties or Multifamily? Use the Property tab to choose.
You can also shrink your list to eliminate duplicates.
'Tis the name of the game: Direct Mailing. You're always going to question how good your list is with a 1% response rate (if you're lucky!) haha.
Not sure how much further you've narrowed down your list, but your list should be mostly accurate with the data they have. The ones that aren't good will bounce back to your return mail address. Try to follow those up individually and in depth because most direct mail marketers don't do that. It's tough and can be time consuming, but potentially a good lead.
Like Kerry said, it's really about knowing what you want and then honing on that niche then hitting them until you get a hard no or a yes. I am on month 3, with about $2.5k in and have had 2 phone calls that went no where lol. We target properties with high equity. Mostly SFH to wholesale or flip. My partner who's been involved in this for a few years says it's really about just consistency.
Have you shopped around? there are tons of places to buy lists from. I use Equifax credit bureau for my lists. It allows you to filter to the criteria you want, and i found it to be substantially cheaper then list source. And I'm getting pretty good response rates on my direct mail campaigns that are utilizing the list.
Not sure if your market is similar but I found a majority of folks that we did business with regarding buying their houses were over age of 50. I use the age criteria High equity as well
Consistent mailings work.
Didn’t know equifax offered this service that’s interesting A small percentage of list source data is not very accurate
What are your search criteria for Equifax
I like to narrow my criteria down so it is manageable to a specific zip code or zip codes. I like out of state owners over 50% equity, mortgages over 10 years old, sfh and multifamily properties, ownership in personal name, etc.
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