Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
16y
Did you ask about mailing third class mail instead? If a bit of timing delay isn't a big deal once you get that pipeline full this may save you some money if you are watching the nickels and dimes.
I think that the speed of delivery will more than trump what you save in cost of advertising. You only have to do ONE additional deal every year to more than make up for the cost difference.
Don't skimp...They need to look professional and your list needs to be good. Otherwise you are just wasting money like you would be with bad postcard campaigns.
I went to the post office to tell them my situation. They told me that you need to mail a minimum of 200 letters to qualify for the bulk rate. However, the person I spoke with told me that I wouldn't qualify for the bulk rate because my letters are personal (which I think is bogus).
Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
16y
Did you ask about mailing third class mail instead? If a bit of timing delay isn't a big deal once you get that pipeline full this may save you some money if you are watching the nickels and dimes.
I think that the speed of delivery will more than trump what you save in cost of advertising. You only have to do ONE additional deal every year to more than make up for the cost difference.
Don't skimp...They need to look professional and your list needs to be good. Otherwise you are just wasting money like you would be with bad postcard campaigns.
I'm going to try my best with these letters Brian.
Paying my friend to hand write the envelope and the letter inside along with using a first class stamp will be expensive. However from the research I've done about yellow letters this maximizes the chances that the individual will open up and read the letter.
I guess I'll be eating rice and beans, beans and rice until I get my first extra deal of the year done from yellow letters :)
Hurley, WI · Member since 2010 · 3 posts · 0 votes
16y
I think Bryan makes a great point - if you try to cut corners you may be better off saving your money.
The point of using a yellow letter is to make the contact person think the letter is an invitation, thank you note, or other personal correspondence. If it looks like a letter from a relative most people will open it. If you use a third class stamp the letter no longer fits this criteria, which will impact your response rate.
Real Estate Investor · Frisco, TX, TX · Member since 2010 · 388 posts · 138 votes
16y
Dustin,
I am also going to be doing yellow letters starting next month. We are going to be doing them in house to make sure they are done right.
I didn't see the cost of buying leads in your numbers? For about the same price you could go to http://www.yellow-letters.com and they could do them for you. They require a minimum of 200 also.
I'm doing my own research for who to mail. I'm only looking to invest within my own county at the moment so each night I'm on the counties website looking up lis pendings and probate cases.