Adam here from Tampa bay, Florida. I would consider myself a pretty seasoned investor as I've flipped more than 100 homes in the last few years...I'm looking to expand out into the direct mail world. Have any of you sent direct mail on a large scale, and if so how were your experiences? I'd like to send out 5K/month in mail but I'm having trouble picking the best market to send to. I've sent to absantee owners once and didn't have a great experience.
I look forward to hearing back...
I notice you mention that you've sent to absentee owners once. Bump that number up a few times to 4-5 times so the same people are getting your mailers over and over. Listen to @Sharon Vornholt podcast(Podcast 12) and she's got some great insight into direct mailing. Follow some stuff of Michael Quarles as well.
Check out listsource.com or Melissadata.com for lists that you can pick up. You can customize what you're looking for based on a ton of criteria.
Adam, if you have flipped 100 houses in the last few years and are just now looking to do direct mail, can you tell me where you have gotten the leads for those 100+? I work north of Tampa in Pasco county and the MLS has been a tough place to find deals lately. Am I missing something? I have actually had some success with mailing to absentee owners but other than that, I'm kind of hitting a wall.
Direct mail is an ongoing process. I mail to AO's every month until one of 3 things happen; I buy the house, someone else buys the house or they are removed from the list. They might ask to be removed or I might remove them if I am no longer interested in the house. That's it.
85% of your DEALS will come at or beyond the 5th mailing. Check out this article.
This is great, I saw your blog online and it's full of useful information. Thanks for the tip on this!
Originally posted by @Adam Jordan :
...I've sent to absantee owners once and didn't have a great experience....
When you say that you did not have a 'great experience' from a direct mail effort, that almost warrants clarification. You often would have to quantify results somehow to compare.
If you need any assistance we are always willing to help.
My experience has been like Sharon's, that you need to send to prospects several times. I do 90-120 day campaigns with 4-6 mailings. I'll renew campaigns in the same areas. Some owners have received 18 mailings from me. Keep mailing, keep tweaking.
@Adam Jordan Like many above mentioned, sending out just one mailing to a list will not get you very far. Its hard for a lot of people to continue mailing without seeing results, however that's what you need to plan for. Before you start a direct mail campaign you need to plan and budget to hit that list at least 6 times. If you can only afford one mailing, then you either need a larger budget or a smaller list.
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