Real Estate Investor · Hillside, NJ · Member since 2015 · 3 posts · 2 votes
Hello all my name is John from North Jersey. Im in the beginning stages of real estate investing. Ive been doing alot of studying and figured this is the time to go all in. I would like to begin with wholesaling, I purchased a list of about 1000 names, and getting prepared to launch my mailing campaign. I would like to know if anyone can recommend a company that could handle my mailings? Yellow letters or postcards? Also do you believe if 1000 is a good amount to start with? Suggestions with anything that can help me in this journey is greatly appreciated. Take care.
1000 is a good number to start with, just keep in mind that you should have a budget ready to send to them multiple times over the next six months. It usually takes more than one mailing to find some deals :)
Yellowletters.com is popular around here but there are lots of options for who to use, including doing them yourself to get started.
With the initial mailing i was thinking of using a service. I was thinking of writing them myself as well to save some cost. Still on the fence about yellow letters or postcards, ill probably mix it up. Thanks for the tips.
Investor · Dallas TX, United States · Member since 2014 · 1k+ posts · 1k+ votes
11y
For starters, you need to consider what type of list you are mailing too. I generally get anywhere from a 30-50% reply rate on yellow letters, but you can screw them up if you try. The rule for yellow letters is to keep them simple, dont add anything, dont get fancy. Yellow letters work because they are simple. The McNeil's created yellow letters years ago because they were in too much of a hurry to make a professional looking letter. Postcards generally track about a 3% response rate. The reason is that postcards look slick, and people are afraid of you if they think you are smarter than they are, yellow letters dont convey that image at all. I bought many houses from people who told me my yellow letter looked like ****, and it did. The trick is to not point out to the jerk that he called you on that crappy letter.
Now back to the list. The better your list the greater your response rate will be. I mail to epired listings and I get a 50% call rate. Any agent can set you up an an expired listing feed for free. No need to pay for that list. If you are mailing pre- notice of default you will get fewer calls but the ones that you do get will be gold.
The amount of letters isnt important, its the rate at which you send them. If you are answering your own calls, and you have a job, then you dont want to send more than 10-20 per week or you wont be able to field all of the calls effectively, and you will throw awy good leads.
Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
11y
Welcome to BP community @John Arnold It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:
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Glad to have another New Jersey Investor on the boards! Great job of getting your list and getting ready to send out the mailings. I think you are making a great choice by looking to outsource this task. I did it myself for years and it SUCKED! It also wasted most of my nights. It took me a while to realize I'm worth more then that if you know what I mean?
I'd recommend talking with @Jerry Puckett. His company is great for newbie investors.
Attorney · West Deptford, NJ · Member since 2014 · 45 posts · 8 votes
11y
I would check out @Michael Quarles too. I just listened to his podcast. His pacing, neurolinguistics, and imbedded commands have controlled my subconscious and directed me to post this... JK. But listen to the podcast and you will understand. It is podcast 77 and looks like he is on again at number 81.