@Brandon Daughtrey Full disclosure here Brandon, I am a new investor myself and have not purchased my first property yet. With that being said, I am excited to say that I did just buy my first direct mail list yesterday through Listsource.com I was able to come up with a list of just over 2000 potential properties that I can mail to and it cost me about $300. If you have trouble with the list, you can call them and they will help you build it to exactly the property types you are targeting.
My plan is to use 5x7 post cards with my general message and contact info on the front. You can get 2500 custom post cards on Vista Print for about $188. My wife and I are going to split the list and try to get out 300 post cards per week over the next 7 weeks. By breaking up the list, I am hoping to control the number of calls that need to be taken and be able to analyze any deals that come our way.
Of course you can set up a template letter and copy and paste in to the letter accordingly to save some handwriting but that is why I am going with the post card (doesn't have to be opened to receive the message).
We may try to identify our "top" 300 properties and send a handwritten letter to them but that may be easier said than done.
Whatever you do, I hope it works out. Good Luck!
Hello @Brandon Daughtrey !
I usually get my lists from Listsource. Definitely not for $6,000 though. I'm not sure the cost if you go straight to Listsource, but I know you can get lists through third party providers for as little as 15¢ per lead.
As for the actual mail pieces, direct mail tends to work best when you send a campaign of 5-7 different pieces, 4 weeks apart from each other. Follow ups are key as the average person takes 3-5 touches before picking up the phone to respond.
You won't have to type or write out each individual letter if you use a mail merge feature. Most programs have a way to do that, or a third party printer can take care of that for you. If you get your list from Listsource, you can download it to an Excel spreadsheet and that will directly translate to most mail merge systems.
@Brandon Daughtrey You can work with a list broker and get about the same pricing as if you went online and took the time to learn how to use the system and figure out what you want.
Pricing will depend on the number of names you get and the criteria used to narrow the list down. There also might be minimum order requirements of maybe $150 or more.
An Absentee owner list using the following: high equity, home value, purchase date, single/multi/condo should be in the range of 7.5 cents a name.
Contrast this with a list of homeowners with the same criteria but narrow down further with age and low Financial Stability Score (FSS) and the cost would be closer to 9 cents a name.
Criteria such as number bedrooms, number stories or year built will all add a bit more.