Hey everyone on BP!
Joined the site a few weeks back and can't believe how much I've picked up/learned in such a short period of time. I've been through a few bootcamps and programs a few years ago but never pursued anything after that.
Starting out the wholesaling route because lets face it, you don't normally have a lot to start with at 27. I know it's going to be a long long road ahead of me but that's completely fine. Anyways the question I have is this...I'm really trying to figure out where to put money first as far as marketing goes, have website and business cards etc...but as far as the marketing goes its a tough decision. Has anyone heard of/used the USPS for their marketing approach? They apparently allow you to chose any route you would like and it costs .18 cents per piece. Granted I know you are not hitting specific target homes but what if your piece went to every home on multiple blocks in target area and it hits some target homes but also hits homes that open channels to target homes. Say throwing in a $1000 referal bonus, that sort of thing? Just trying to figure out a new somewhat cheaper approach because as of now buying a list and then having list mailed out using a second company, yellow letters, is a little to high for me right now.
Anyways sorry it's a little long, first post jitters, any and all advice would be greatly appreciated!
@Derek Gutekunst It's an interested concept, and I guess you never know whom has what, but to me it seems like you might be wasting some money... You said it best that you aren't hitting all target homes. Isn't that the point, to get the target homes? It seems like a good resource but if you are trying to be cost effective, it seems counter productive to me,
I highly recommend listening to BP podcasts #77 and #81 with Michael Quarles. He details why EDDM (Every door direct mail), while cost effective, does not specifically target the sellers' you will have the most success with. I found it to be very detailed and helpful in the thought process behind successful direct mail campaigns.
Thanks for the replies guys very much appreciated! I'll make sure to check out those podcasts tonight and continue to gain ideas before putting money into any DM regiment.
@Derek Gutekunst Don't do it. It may seem cost effective per piece, however it is wayyy more expensive. For every house you mail to that does not match the criteria you are looking for, it is a complete waste of money. Lets say you mail 1000 pieces EDDM and only 10 houses meet your criteria, you've just wasted 990 pieces of mail and all the money associated with those pieces. Your other option is to pay a little more and pull a list of 1000 homes that actually meet your criteria, and mail to them.
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