I am an infill home builder in Portland, OR. I aspire to transition into commercial mixed use development.
We've had some great success with sourcing deals via direct mail campaigns for single family homes.
In Portland, there are many under-utilized commercial properties that currently are not at their highest and best potential, based on location and zoning. Many of these properties are in poor condition, next to very nice new adjoining properties.
I'm curious if anyone else has done a commercial marketing campaign to source new projects? My main question revolves around the message copy and the media that you put in on? I have a hunch that a hand written yellow letter isn't going to fly in the commercial world? Maybe I'm wrong?
I have a pretty decent understanding of real estate finance and the nuts and bolts of cash flow. More importantly though I think, I have several friends I can lean on who are commercial developers who can help build out a pro forma to filter leads when they come in.
Big picture, I'm wondering how you might recommend approaching commercial property owners with direct marketing??
Thanks for any input!!
Hi @Ashley O.
Commercial Property owners are people too. They put their pants on one leg at a time just like the rest of us. The toughest hurdle to overcome is getting passed the gatekeeper, which boils down to getting a decent list of who has what you want.
If you're able to get a list with actual names to personalize your letters with, a hand written letter works very well. I use a hybrid letter with a typed message, hand written signature, PS and envelope. It would appear to be stationary from your desk, with your logo if you use one.
Thanks @Jerry Puckett,
Great advice. I think I will start with a good old fashioned driving for dollars campaign in 3 hot commercial nodes and see what happens.
Am I correct in assuming that it's a little more difficult to get a commercial deal done without a broker? Perhaps this is just a mental impediment I need to set aside. We have no problem getting it done without brokers in the single family world with the help of water tight contracts and great relationships with title.
@Ashley O. How did the campaign go? I know it's been almost 2 years now lol
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