Seperating Absentee Owner Types To Market To
I need advice on the best strategy and approach to take to maximize my efforts and marketing budget for my Wholesaling Real Estate Venture.
I recently bought a list from listsource for all the zip codes in my city. Listed below are the criteria I utilized to create the list:
Property Type: SFR, Bedrooms: 1-5, Bathrooms: Left Blank, Sqft. 1000sqft.-3000sqft. Equity %:40-100
Last Market Sales Date: 1900-2015, Absentee Owner: In State and Out of State
I organized the list into a “Master List” with all of the properties from all of the zip codes and organized the “Master List” by owner’s name. I did this so that I could see which owners had multiple properties and how many each had. I then copied the Master List over and separated the properties by zip code.
My question is do I send the same generic yellow letter to every property owner including a letter for every physical property address on my list even if an owner has multiple properties? I assume this would be a waste of money for property owners with multiple properties and maybe even an annoyance with getting multiple letters at the same time for their various properties, but again that’s just an assumption.
One though I had was to pick out the owners who had at least three properties and separate them and their properties from all of my lists. I would then send them one letter (versus multiple letters for each of their properties) to introduce myself, explain what I was doing ( Wholesaling), and ask them to contact me if they are looking for additional properties to buy and what their criteria is. This would in effect would also help me build my “Buyers List” which I don’t really have at the moment. In the same letter I could also say that if they are interested in selling any of their properties presently or in the future to give me a call to discuss as I could market their properties to other buyers on my list aka assignment, wholesale, etc. What would be a good frequency to send these types of letters to these owners aka Buyers?
For the remaining property owners on my list who only have 1 or 2 properties I would send the generic “We Buy Houses” yellow letter that I create.
Am I heading down the right road here to maximize my budget and opportunities or no???
Any and all feedback is appreciated.
Robert