Marketing to Multi-Family Owners Via Direct Mail

Multi-Family and Apartment Investing
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Marketing to Multi-Family Owners Via Direct Mail

Lawrence Smith
Investor · Bowie, MD · Member since 2015 · 53 posts · 16 votes

Hey BP Family,

I am from Prince Georges County, Maryland which is undergoing major development right now. This fact alone made me really want to tap into the multi-family market in this area using a direct mail marketing campaign. Who should I specifically target in a direct campaign to generate some potential leads ? My goal is to buy and hold these properties. 

( I am focusing on properties 2-24 units )

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Steve Bracero
Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
10y

@Lawrence Smith

I currently just purchased- target zip code, assessed value, owned property for over 7 years, absentee owner, over 40% equity.. you can add to the list or change it how you would like and the purchase price is based on the number of leads.. Keep in mind with direct mail to mail the same list at least 6 times... it takes time to reach the potential motivated sellers and they are looking for brand recognition, if you consistently mail them you may be the first one they talk to... just a thought 

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  • Jeremy S.
    Flipper/Rehabber · Mechanicsburg, PA · Member since 2013 · 189 posts · 84 votes
    10y
    I would target long time owners or perhaps anyone who acquired the property as an inheritance. I also like to target property owned in a personal name vs LLC. Basically anyone who isn't still buying. That list will be a manageable size
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  • Steve Bracero
    Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
    10y

    @Lawrence Smith

    I currently just purchased- target zip code, assessed value, owned property for over 7 years, absentee owner, over 40% equity.. you can add to the list or change it how you would like and the purchase price is based on the number of leads.. Keep in mind with direct mail to mail the same list at least 6 times... it takes time to reach the potential motivated sellers and they are looking for brand recognition, if you consistently mail them you may be the first one they talk to... just a thought 

    2Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    Well you won't have to spend much money in your marketing because there is a severe lack of multi family housing (2-4) units throughout the entire metro area. We just don't have them in anywhere close to the numbers you find in other metro areas.

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  • Lawrence Smith
    OP
    Investor · Bowie, MD · Member since 2015 · 53 posts · 16 votes
    10y

    @RussellBrazil  ha! Yes I agree.

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  • Lawrence Smith
    OP
    Investor · Bowie, MD · Member since 2015 · 53 posts · 16 votes
    10y

    @Steve Bracero  @Jeremy S.

    Thanks for the feedback guys. Any lists sources or websites you recommend using ?

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  • Steve Bracero
    Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
    10y

    @Lawrence Smith

    I used list source which was very helpful 

    2Reply
  • Lawrence Smith
    OP
    Investor · Bowie, MD · Member since 2015 · 53 posts · 16 votes
    10y

    Thanks @Steve Bracero

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  • Mark Henderson
    Winter Springs, FL · Member since 2014 · 22 posts · 15 votes
    10y

    @Lawrence Smith Great question Lawrence - I'm also looking to do the same thing here in Orlando.

    @Steve Bracero Steve, what kind of response rates do you usually get from these types of lists? Do you use yellowletters.com? Or some other type of template mailer?

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  • Steve Bracero
    Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
    10y

    Hi @Mark Henderson

    I have not run this setup just yet.. But I have the list am deciding on which piece of mail to do first.. It will be a 6 step mailing (at least) and from what I read on BP the response rate may be extremely slim. I have three templates I am deciding on to mail out. I more than likely will be using yellow letters .com since there are many different options to choose from. Feel free to PM me, we can connect and discuss our strategies on DM. 

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