So a week after I sent out my first campaign these are the results...
370 pieces mailed to high equity, absentee, out-of-state owners
15 call backs
Talked to people that were in all kinds of different situations. Some people yelled at me. Some talked for half an hour or more.
In the process of working out a deal with a seller. Have an appointment to meet another seller next week who has multiple houses to sell. Made a few offers and am still waiting to hear back.
All in all, I think it has been a successful "experience". I didn't expect to make a deal out of every call, but now the seed is planted and I am taking action. The next mailing will bring me a deal!
@Shawn Connors Hey Shawn, I just read this post. It sounds like you sent mailers to people with distressed homes and owners that do not live near. Can you share how you found these homes? I want to also find owners of homes that have been owned for at least 7 years and also homes in which the owner lives out of state. Not to sure how to go about that. Thanks!
Listsource.com. Simply input all the filters you are looking for and it will generate a list for you. Extremely easy
I actually got my first mailing campaign together that is going out on the 25th through yellowletters.com. Hopefully I get the feedback you do minus the yelling callers. Keep us posted on any deals you close. Also, what areas did you target. Im from Pottstown, right up the street. Wonder if we chose the same area. Im going for Phoenixville and Boyertown.
I targeted Chester, Montgomery, Delaware and Philadelphia counties. There weren't enough absentee owners in Chester County alone. I have refined my criteria for my next mailing and will be sending it out within the next few weeks
I know what you mean. I only got 402 absentee owners from my areas. While focusing on high equity. I'll keep you updated on how my efforts work out. Im also looking to purchase a property in the area if the numbers are good enough so if you come across any deals your not interested in let me know.
I did get a lead on a house in Pottstown. Seller owes 75k and the houses ARV is between 95k-100k
Hi Shawn - good for you! Did you use yellow letters? If so, don't they have lists as well, curious why you went with list source - only because I am waffling? :) Would really like to hear what you close on. Good luck. Louise
The lists are much cheaper at Yellowletters.com than at List Source.
@Louise Courville @David Sisson I went with listsource because I have not heard any reviews about the lists from yellowletters.com. I have heard a lot of good reviews about listsource and I was pleased with there list. I only had 3 letters sent back. Maybe Michael Quarles can tell me more about his lists!
I would be interested in pottstown. It all depends on location. Message me the address when you get a chance.
@Shawn Connors Good start! You are no longer a direct mail virgin.
I agree that you are smarter to select your own list. The most important aspect of successful direct response marketing is to pick a great list.
The purpose of the lead generation device is to coax a prospect to contact you. Your job is to take the prospect and disqualify all but the best and close the sale.
Copywriting legend Gary Halbert used to say that his ideal list was comprised of a 'starving crowd.' This means that YOU select people who are predisposed to do business with you in the first place.
Next, YOU are in charge of your copywriting. Find the problem that people have and agitate that oroblem. The purpose if your mail piece is to get them to take a particular action like call you, return a mailer, go to a landing page, etc.
Then there's the matter of frequency of contact. You will do best to have a campaign that touches people multiple times. My friend Mike has been mailing some of his well-defined target leads for more than one generation. That means he's mailing the children of his original list!
I suggest you delve deep into the topic and be in this for long run and you will eventually cube very successful.
Thank you for the words of wisdom, they are greatly appreciated.
@Shawn Connors good work! I love direct mail, I'm sending out about 500-750 a month and it's a great tool.
@John Cohen How is that working out for you? How many are you converting to deals?
@Ellie Hanson Thank You! I didn't want to be one of those people who got caught up in fear and never take action. I've always been able to step outside my comfort zone and do what is necessary to produce results. REI is gong to be one hell of a ride!
I actually agree with Rick. If you know how to obtain your own list you should assuming the cost isn't enormously different.
For most the battle of pulling a list is so much like shooting in the dark that the results are dismal coupled with the huge analysis paralysis that's crested because of the lack of knowledge that nothing gets accomplished.
We use several sources including list source for list procurement.
The key is marketing.
Ricks also right about copy. Paramount.
@Shawn Connors - Congrats! Did you mail postcards or letters on that round?
@Rick C. Yellow letters. Next round will be postcards
Good for you. I got three calls but no house visits. I spent the day completing my 60-day letter follow ups. Then tomorrow I will be driving for dollars. Odd thing is while on vacation my wife and I passed by a house that we expect to hear if our offer was accepted sometime this week-this was completely the right time and place. We know the area as my parent live there.
Anyway good for you and thanks for the point out on the list source.
@Rick H. in My Timber days In Oregon... We never gave up until the timber had been logged... We called every 90 days for years, many did not convert for 3 to 5 years after first contact.
@Shawn Connors I'm seeing about 5-7% but once I follow up with calls that goes up significantly.
@Shawn Connors Thanks for sharing! Glad to hear someone following through with their first mailing!
Best of luck in your future investments.
Shawn, I prefer post cards as your message is on the card and they cannot help but read it! Your need a strong offer to get them to call you or visit your website.
Great job! Can you broaden your area and send 2k letters to get more of a response? I would stick with your letters since seems like a great result. Never found postcards to have same affect. (I don't even look at them in my mail anymore.)
And I also have found that sometimes sellers might save your letter and reach out to you after considerable time has passed.
Sounds like you got this!
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