I'm getting ready to put together my first direct mail marketing campaign, and I'm wondering what sector you guys have had the best experience marketing to.
I'm currently looking to find properties that I can wholesale. Would you market to absentee owners? High equity owners? Foreclosures? all of the above? Something completely different? I've only got a small budget starting out that I can commit to for any length of time, so I want to target a segment that will give me a decent shot at getting a deal or two out of it. Then I can reinvest that money and contiually grow and expand the campaign.
Absentees are your best target. High equity owner occupants - as a list - takes much longer to farm. and foreclosures generally don't have the equity necessary to bargain with you on price.
As incestuous as it sounds (because it is investors buying from other investors, get it? =), the "tired landlord" is the #1 profile.
P.S. I do like direct mail, but it takes time to fully develop as a lead source - see this free REI education video called the Rule of 7...
Thanks @Dev Horn
I really appreciate the advice! Looking forward to starting up my first campaign next week.
And I'll definetly check out the video!
@Dev Horn How often would you mail to the list? I was planning on once a month, but I heard on a recent BP podcast someone mention only hitting each lead once every 3 months. What do you suggest?
We hit our absentee list MONTHLY. Especially in the first 6 months.
I stretch out some of the other mailing frequencies - like every 6 weeks for owner occupants and every 8 weeks for probates.
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