How many mailers to get a deal?

Question

I've never done a deal.  I want to mail out "i buy houses" postcards, but not sure how many I should send out.   I NEED to get at least 1 deal from that mailing.  So how many mailers would I need to mail out to make my chances of getting a deal from one 99.9%?   I'm in Sacramento CA and the average home price in my area is just over $200k.

Matt Larsen · Answer

Hey Andrew,

My wife and I started sending out about 10-20 hand written letters a day( Yellow Letters) - so it worked out to about 100 a week.  We were getting about a 10% response rate - so 5-10 calls or so a week.  After about 6 months of doing that we had done 15 deals( wholesale flips) - we got lucky because one of the sellers had 10 properties to unload and we got them all sold - then we were off and running!!

Moral of the story is just get it started and things will start happening.

Hand written Yellow Letters are the best! ( just gave out my #1 ninja secret)

Good luck!

-Matt

Account Closed · Answer

I've been sending out mailers for a couple of months now an if I had to guess I'd say a gazillion lol. Honestly, my response rate has been pretty good I feel, but my audience "just aren't quite ready to sell yet" but promise me when they are I'm their first call. So I persevere and view it as building a potential pipeline of potential properties as I continue to try and source out deals for now. The price range I'm targeting I'd say is 500 - 750k depending upon the town and home.

Michael Quarles · Answer

ONE

However more then one to substain a business.  The number depends a lot on prospect group mail type cash reserves and your ability.

Keep in mind most begin at 1:92 qualified appointments to a contract and reduce that to 1:9 eventually.  Most will settle on 1:27 because of education.

Anson Young · Answer

This IMMEDIATELY made me think of this F2F podcast episode.

NEED is a good and bad place to start from in this business.  Good because it can motivate you to persist.  BAD because it can take some time to get your first deal.

Even if those mailers got you 10 motivated sellers, your inexperience alone might make you lose half of them by not knowing how to structure them, and blow the other half just due to plain ol' being green.

Andrew Nesbitt · Answer

@Dennis  Wow...I was hoping I was going to hear someone say 1,000, maybe 1,500 tops.

@Jeff  I NEED to get a deal on the first mailing because I am taking money out of my savings to do this.  If it doesnt work, wife is going to be upset I "wasted" that money and I don't need anymore stress in my life.  :)

Jeff Jamieson · Answer

Why do you NEED to get a deal from this mailing? This is a tough business and being new there is a huge learning curve so don't get disappointed if you don't get a deal right away.  It's about quality not quantity for leads, what are you using to decide who to send the mailers too? Without knowing much about your situation I would drive for dollars and send mailers out to places that you believe may need to be rehabbed or that you could add value to.  Your neighborhood is crawling with distressed properties. After that it is mostly circumstances and salesmanship!

Dennis Lanni · Answer

@5000

How many mailers to get a deal?

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