Hi I'm a newbie what criteria should I use for building or filtering a bought list for direct mail to get a good deal on a 2 to 4 unit in San Antonio ? My goal is to find a 2 to 4 unit , and do a brrr .
Before buying a list, make sure the unit filtering you use is pulling the correct data. My county lists MFHs in a weird way, so if I select the way my brain would filter (unit #s) I get inconsistent results.
Research and confirm as best you can before spending the money is my advice.
@Braden Hobbs - that is great advice, and is number one mistake I see people make when pulling lists. Every county is a little different and while all of us service providers do our best to normalize things like property types across counties, there is no perfect formula. For multi-family I regularly see counties where property type works great, but they have no data for number of units, and vice versa. This can vary not only by county, but sometimes even by subdivision. Locally we have a large development where the unfinished lots were all misclassified as single family residential (which typically indicates that there is completed single family own on the property). Public records are the absolute best way to source deals as a real estate investor, but doing it well requires a bit of research.
Thank you so much for the response. Are there any good resources to learn how this funnel should work and how to do Direct Mail correctly to find sellers in a difficult position wanting to sell for under market value?
Here are some examples of situations I have learned so far . Where people might want to sell their homes in a hurry.
- Divorce
-Probate
-Can't Afford It NODs
-Short Sales ( situation * which I don't see so much anymore ) But, I wish there was , I only know how to a short sale RE transaction. I've never done a " normal " sale. I used to process short sales for a realtor and grind thru them.
- Home Owners who want to retire
-Tired Landlords who want to sell their portfolio
- Homeowners who can't do the proper upkeep of their property.
-Homeowners who need to move ASAP due to a job or life change.
Where do I find these lists? Any recommendations? How do I funnel them? What is good rate of response versus a low rate of response from letters typically in Direct Mail of this kind?
Sorry for the long winded questions. I'm new and I have no shame in asking for help. Thank you so much for all the past, present, and future post to this thread.