Does direct mail work for commercial multifamily? 30+ units?

[Frank Bonzai]

Hi all,

Whats your experience with direct mail campaigns for larger multifamily?  I am a agent/investor thinking about starting a  direct mail campaign but not sure if its worth spending $5k over a 6month period.  

Does it work?  

Is it worth the investment?

[Charles Carillo]

@Frank Bonzai

Direct mailing multifamily in general is a much longer timeline than single family. Do not expect to close anything for 12+ months. Usually, the owners are not as motivated as single family owners since most have income still coming in.

In regards to larger properties. We direct mail larger properties (30+ units) but they will usually use brokers when it is time to sell however; most brokers get listings by reaching out by phone and mail to property owners (they contact us all the time to sell assets we own of all sizes). I believe the key to it is having a professional mail piece and when you speak to the owner, don't tell them you want to purchase their property at a 10 cap. If you explain your experience and are willing to make a reasonable offer, you will be in front of most people direct mailing.