First post and excited to be a part of the community.
Quick background: I've lived in the GA market for sometime now and know a few good areas I want to focus my side wholesaling and flipping houses business on. I've already reached out to a ton of different buyers and have a couple that have told me exactly the type of stuff they are looking for. The one thing I need to do now is find these houses. I'm working with a strong real estate agent and have a family contractor that has a full team ready to go.
But I want to find a deal while creating my own lead generation and eventually become self-sufficient. So, I thought to invest in a marketing strategy - direct mail.
We have a full team that we are currently partnering with and marketing is the area we need to improve. I read the beginners guide and am a bit in a lost on how to proceed forward so I thought I'd ask a few folks here and start getting my name out as well.
1) I used listsource to create a list based on our target market. We are looking to wholesale and fix/flip. I am focusing on absentees. What's the optimal equity range (ex: 50 - 80, 40-75, etc.) that I should include in my search
2) I have 400 leads based on our target area. Do you think it would be wise to increase it. Yes I understand this is a numbers game and have the capital to invest up to $3000 into this. But, I know the area we really want to focus our efforts on.
3) A lead off from the previous question, do you think I should take the 400 leads I have and include probates in the same area and other distressed type of motivated sellers?
Bonus question: Who has worked for you in the past for outsourcing your mailing? I have a full time job and don't have time to mail this stuff, not worth my time and others can do faster and better.
Lastly, I have read enough in the forums to have a good sense of the type of messaging to use here and know it takes 6-7 touches sometimes. Hoping we can get 1 transaction out of spending $3k, it would be worth it at that point
I appreciate you helping the new folks here!
@Sunny Malik - Sounds like you are working in a good direction with some pretty good questions. You can work with a mailing list broker who can help build your list and offer suggestions.
You might consider mixing in some Seniors with 15+ year ownership along with the Absentee to build up the size of your list. Keep in mind that in most competitive real estate markets that Absentee owners have been getting mail from other investors.
As for the equity question. Consider a loan to value of 0-59% (at least 41% equity).
Be sure to ask when your list was run through the post office's National Change of Address (NCOA) to minimize wasting postage.
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