Identifying targets for mail marketing out of state
Hey guys,
I'm sure this question has been asked before in one form or another but I'm unable to find a relevant thread. Sorry if this is a repeat.
I've been studying mail marketing methods, I understand the methods, format and system, but I'm missing the first tile in this domino effect. How identify the targets.
I keep hearing, "Oh, its all online", "Its all on public records", which is great news but still far too generic for me to take action on. I tryed using ListSource, but I'm not entirely sure what cross metrics would identify a motivated seller, and at a minimum of $50 a pop, it can become expensive to tinker. I have a full time job and I'm in an inflated market (LA), so driving for dollars is far form ideal . I'm trying to identify targets out of state.
Can anyone help guide me with actionable search criteria and specific websites?
Thanks!
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#1 Marketing Your Property Contributor
- Flipper/Rehabber
- Bakersfield, CA
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#1 Marketing Your Property Contributor
- Flipper/Rehabber
- Bakersfield, CA
Good to meet you sir...
Out of state markets can be tricky however somewhat easy to identify.
I would start here. It is a list of the major cities in America.
From here I would click on a city of interest. For this exercise lets choose Bakersfield. The link is going to take you to page that will show you that Bakersfield has a median value of 225,000 and a median rent roll of 1425.00.
With this info then use a mortgage calculator to determine if the rent roll is in line with the mortgage expense.
You'll notice that 225000 at 3.88% is 1058.00 a month. So I would market to it..
Now as to who to market to..
Notice on the median value page the 1 and 2 bedrooms are doing much better than the 3 and 4 so I would pull the following list.
SFR
30-100% equity
1-2 bedroooms
1 year or older ownership
Current home value to 225,000
Trusts and Corps okay
Absentee OUT OF STATE
Absentee OUT OF AREA
That will pull a result of 1581 however once I get the list I will remove any owner within 150 miles of the property...