So I'll be mailing out a few yellow letters soon, but because of my budget the most I can do is something like 200 every month, which isn't much so I need to be effective with what I got. the postage is whats breaking it for me, at 49 cents a pop, it's not cheap!
What are some creative things you write in your yellow letters to get a response? I'll be using non standard envelopes and cards to stand out a little more, and everything will be hand written (since it's so few)
I'll be targeting absentee owners (non-landlord) and people behind on their taxes/ possibly mortgage.
I am a Property manager and would like to send out yellow letters as well soon. I am in the same boat as you as a new PM with my budget. As my first campaign, I dived into postcard mailing service with VistaPrint. Per post card was 34 cents for 100 mailings and total cost was $53. I want to target absentee owners, investors, or wholesalers wanting to get rental income for their properties. Do you pay to get that type of list or what do you find the best way to capture these leads?
@Amy Good well I'm licensed, so I have access to the mls and some sort of tax database that allows me to find all properties with absentee owners, and then i just filter through those to see which ones are the ones i'm looking for specifically (I'll try to filter out all the land lords and just stick with distressed properties) and then as far as delinquent taxes i just use the county website to find those, the downside is that you have to go street by street, at least here in Houston. but hey that beats driving for dollars which is really time consuming and inefficient!
Oh and I forgot to mention this in my original post, I'm wholesaling, if that helps.
I know you guys don't want to hear this but but handwriting them IS a huge pain in the button and on the hand but it is the cheapest and in my experience most effective. I wrote over 2000 postcards and letters and always got the best results with a simple handwritten letter. I have wholesaled 17 properties that way and ended up buying 7 for rentals from a guy that had 17 properties. I had a very very small monthly budget also and still do handwritten. For me it really is the best.
Ok Nicholas thanks for that info! I did use my county website for my postcard campaign for leads for owners for delinquent taxes. Another question since you are a wholesaler, do you use property managers when and/or your distressed properties will not sell quickly for any given reason? Will you rent the properties? Just wondering if my marketing strategies to wholesalers for that type of scenerio is a waste of my time?
Please let me know how this works out, I have heard several mention this strategy, also I have a contact where you can purchase these lists in any state of people looking to sell there homes.
@ Justin Thank you for that info as well!
Literally this is what I write
I was curious about your property at 1234 main st and if you would be interested in selling it. Please contact me at number
Like I said this works best for me.
@Amy Good I wish i could tell you haha, I'm still in the process of getting my first deal. from what i understand when wholesaling, if you don't have a buyer within a certain amount of time you opt out of the contract and don't stick with the property because well financially i wouldn't be capable of following through.
@Justin Shelton awesome thanks Justin!
@Account Closed yes i've heard of these, but I couldn't say how effective these are, since everyone has access to that as well. with a big budget and persistence i believe these could be good.
@Nicholas lol well I hope you get your first deal soon! I wish the same for myself, I need some rentals! Keep us posted on your deals. It's always good to know a newbie is having success.
I haven't done it myself. But you might find this podcast most informative. One of the best podcasts I've listened to from Michael Quarles who runs Yellowletters.com
Thanks. I think I'm up to 173 podcasts on my podcast site.
As for creative yellowletters to absentee owners on a limited budget.
With that budget size I would concentrate on out of state absentee owners. And you may find that a live letter and addressing is exactly what you will want.
This live letter will give you the highest impact and the out of state absentee will afford the highest discount.
Btw. A live letter is a REAL handwritten letter. No machines.
Using standard postage (rather than 1st class) can reduce your costs significantly. Post office states a 3-30 day delivery window I find most of these land around day 10 after mailing. There are standard postage sticky stamps which still give your mailing that authentic feel and look.
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