Newbie Alert: Need Advice on Direct Mail / Contacting Investors

5 Replies

Well friends, I'm in hot pursuit of my first deal (looking to house hack / turn into a rental, SFH or Small MF). So far I have made 5 offers in the past couple weeks but have gotten outbid every time. I live in rural Oklahoma and would like to invest close but am really struggling with MLS deals right now. There's not a lot of prospects on the market right now and most agents I've found really don't understand what I'm trying to do. Lately I've shifted focus to driving for dollars and gathering contact info from other investors in my area.

My question is this: What is the best practices for using direct mail? Also, what is the best way to contact other investors about whether or not they might be looking to sell some of their portfolio? And lastly, am I missing anything as far as generating leads in a small town? 

Thanks for your input in advance, I value it greatly! 

I'm ready to get my foot in the door, literally!

@Jordan Alexander I live in a small town as well that's in close proximity to several much larger cities. I've found in my market that SFR are harder to obtain even through direct mail. Most investors know the market is hot and are wanting to sell above what I would pay them for their property. I'm finding more success with multi-family owners for several reasons, the obvious being less competition and more cash flow. Working a small town I use the PVA (Property Valuation Administrator) website. The names and addresses of most owners can be found there as well as info about the property like taxes. My county gives the bare minimum but all I need is a name and address and I can do the rest. Also I would continue to look for a realtor. I have several for the cities surrounding my area and I firmly believe they are one of the more undervalued assets. Search here on BP, realtors here may be more understanding of your process. Good Luck and thanks for sharing!

Try other sites for your lists, like Listsource. The MLS tends to be very saturated with buyers making the competition very high. Good deals tend to be scarce and need to be fought for. For marketing to these leads, you can try direct mailing, cold calling, sending text messages, RVM etc.

Good Luck!

@Marlon Johnson @Ehsan Rishat

Thanks for the input! I will put these things into practice ASAP! I just want to find an actual deal for my first property instead of overpaying on the MLS. I'm not working with a ton of capital yet so I can't afford to take huge risks. I am still interviewing agents and am still pursuing a mentor in the area. Once those get into place I think I will see some opportunity.