I have sent around 250 letters to Foreclosures and Tax delinquent based on the list from public records - why so many came back and what kind due diligence I should do before I post them !!
How many is "lots"? Some returns are to be expected. Considering the types of properties you're sending to, there's a high likelihood that the properties are vacant. On foreclosures you'll likely need to contact the foreclosing lender (or, more appropriately they're attorneys). Tax delinquencies you may need to do some skip-tracing to track down the owner. As far as due-diligence ahead of time you'll need to find out if the property is vacant (drive by if it's local) then try to get a good address and/or phone for the owner of record.
I found it might be less expensive to send a post card to the list at first to see how many bounce, then scrub them and spend the money on letters & bulky mail. I wasted a lot on a expensive mailer this way and it won't happen again. The post card is less than 50 cents to see if its a good address...
How many came back?
I typically get about 3% returned, mailing absentee owners, using listsource data. How many did you get back? Might be worth using an address verification service if it's a lot higher, those are pretty inexpensive.
Some seller carryback names from Dataquick gave me over 10% return. It starts adding up if you send something that stands out from the crowd so it does not get pitched upon receipt, like most worthless carp that ends up in my mailbox.
Thank you for the reply - I have sent out 250 yellow letters two weeks back and almost 50 of them came back to me as "Return to Sender and Attempted not Known" - Is this normal that I should expect almost 20% postal mails as not delivered.
Can you please recommend the website how I can do Address verification?
I still can't believe this whole letter mailing thing is actually a strategy. You are mailing these to people, hoping to purchase their house from them in a distress sale.
Why not target specific houses you think are a good buy, and try to contact the owner directly. I don't get this whole mailer thing. I can't imagine the hit rate is any good at all.
@Rammohan Rao Who are you using as your source of information to these records? The courthouse?
Just google "address verification services" and you'll see a bunch of services. This will at least verify that the address is correctly formatted and exists (but it will not verify that person is at that address). Given your huge return rate, check this first.
If they pass this test, then we need to investigate why the person you are mailing to is not at the address they are associated with.
I am using Real Acquisitions and downloaded the data from them - thank you
Sounds like their data isn't very good.
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