Direct mail Marketing for a Rookie. Please help

[Jose Castillo]

Hi Bp, I would need someone's advice on purchasing an absentee owner list. I'm fairly new at this kind of marketing so it can be kind of frightening. I must rely on my folks on bp for advice. Can anyone help me with a good criteria that's going to help me close my first deal. I was thinking maybe: 1930-1980 Ltv- 1-30% Last sales- 2013 and under Minimum 2beds, 2 baths 800 sq ft minimum Is there anything I'm missing to help me get a better chance on scoring my first deal? Any advice would be huge. Is list-source worth a try? Any other suggestion? Thanks so much.

[Cortney Jones]

@Jose Castillo

The LTV you would use will depend on the business model (buying option) you're planning to use? Are you paying cash and looking for a lot of equity so you can negotiate at low prices or are you interested in taking over existing loans (subject to the existing financing) or buying with owner financing? Those are all things to consider when looking at your LTV criteria. If you're buying sub-to, for instance, you can go to 70% LTV and still get great deals. If you plan to negotiate short sales then you can go to 100% LTV. So, your list depends on your buying method. If you're new, start with one.

Once you get your list in an excel sheet, depending on your mail provider, you would upload it and create a mail merge postcard on click2mail.  Click2mail has good training videos.  With yellowletters.com, yes they will do it for you when you send them the list.