So after being on the sideline for years and listening to every podcast, reading every post, article and what have you I could get my hands on, I did my first mass DM drop today. My list total is 1114 folks. My list has divorced folks that kept their homes, people that were on the sheriff sale list but were saved, driving for dollars, houses on the MLS for 90 plus days, a purchased list with absentee owners with less than 20% equity. I am targeting certain zip codes with good schools, no more than 1.5 deviations from median home price.
My main exit strategy is lease/option. I used yellowletters.com, naked letter investor 2 with a few tweaks. The first letters should hit the box mid next week.
I'll keep you posted. Also for those that see this in central Ohio, if you have any "skinny"deals you can't buy let me know. Maybe we can work something out.
Helpful comments appreciated
@Todd Primmer that's a massive list, especially for a first mailing. Congrats on finally pulling the trigger. Be ready to live on your phone for about 2 weeks.
@Heath Ryans I hope to spend the next two weeks on the phone. Thanks for the feedback.
What list size would you recommend for a first mailing?
@Todd Primmer I am curious why you went with Absentee Owners with low equity? Most investors want high equity owners. Was it primarily to hit owners that the others aren't?
@Chrissy Arnold I went after those I feel can’t sell traditionally because of lack of equity but might still need to sell.
You might try working with a mailing list broker to find some alternatives to the absentee list. One might be Homeowners with Low Financial Stability Scores.
@chrissyarnold good call, do you know anyone?
Update on mailing:
I have received 4 calls, no real leads to speak of that need to sell in the near future(next 90 days), lots of returned mail(a few properties that sold, but mostly just returned by the post office) 55 pieces and counting. I am re-mailing to these folks using hand addressed and stamped envelopes. The returned mail seems high, any input?
Maybe the next round will hit better, going with postcards, or as @Michael Quarles would say, I require the next round to hit harder.