Hi, I am on the verge of a new marketing plan that will cost about 25k for 6 months. It is primarily direct mail. My question would be how would you use the 25k in order to scale your wholesaling business quickly?
1) I'd buy a high equity absentee list and mail those consistently. Those are the largest lists and you are bound to get deals from those
2) Simultaneously I would do the legwork to create my own list for probate and tax delinquents and start mailing to those. Those are more motivated, but smaller in quantity.
3) I'd make sure I have all my ducks in a row for the surge of calls that are going to come from doing so much DM. Not having the systems in place, and not knowing what to say or process the call would be a waste of marketing dollars. If you want a game plan, let me know. In the meantime here are some questions to ask yourself. If you can answer Yes to all these questions, then you should start. If not, you should do more preparation to increase your odds of success.
- Do you have the system built in place for your funnel: ready to answer that number without letting it go to voicemail, have a website landing page to capture the lead if you include a link in your DM.
- Do you want to maximize your response rate? Get a area code that is familiar to the people you're mailing to if you want to increase their comfort
- Are you familiar with the questions to ask a seller to see if they are distressed or not?
- Do you have buyers ready in that area for when you close a deal?
- Do you have someone in person that that isn't just boots on the ground, but understands rehab costs so they can get a proper rehab estimate so you know whether it's a deal or not?
- Do you have access to MLS or comps to know the ARV of the property you're buying?
- Do you have the contracts in place for them to sign when you close the deal?
- Do you have a title company or escrow lawyer (state dependent) to help finalize the paperwork?
Those are just a couple of things to get ready prior to starting your campaign. I'd highly recommend getting a real estate license as well.
4) Did you do research on the DM providers to ensure you're getting the best service, best product, and best price for your mailings?
5) There's some advanced things you can try since you're able to do a good quantity with your funds, like using different phone numbers for different types of mailings and numbers in the campaign to track your response rates.
Dug up an old message chain between us, messaged you again since we played phone tag about a month ago.
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