Hey BP Community!
So I have my list and marketing tools ready to send, but I have one question. Am I suppose write all 400+ address on each individual letter or is there an easier way to do this??
You need to learn to use a mail merge program. I put my list in MS Excel and then do a mail merge letter in MS Word. It can also be done on Click2Mail but it's a little more difficult I think.
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Naturally a 'hand addressed' envelope has a better chance of being opened. However, I understand the issue that it probably isn't the most fun you'll have in your life to address them yourself.
If it's in your budget Click2Mail is very good for post cards. Another option is to pay someone to do it for you. Maybe a high school kid or something......Roland
I understand your dillemma and wanted to share with you what we do, with the hopes that it's helpful food for thought.
We take our overall list and segment it into two main categories: 1) The properties we are most excited about (usually defined by neighborhood) and 2) The properties we are excited about, but less so. In other words, if my list were a list of high equity absentees, I would sort that list into categories of awesome neighborhoods, vs. good neighborhoods. Usually category 1 (awesome neighborhoods we are most excited about) is maybe 15% of the total list for us.
We do this so that we can invest more on a per-unit basis on the higher priority targets. For our high priority targets, we actually have a small team of letter writers (hired via "gigs" on craigslist) who hand-write everything: the letter, envelope, manual stamp etc. For category 2 with the lesser but still "good" neighborhoods, we work with a local mail house to do large mail merges and use presorted postage which is much easier and cheaper, but more generic.
In the end, my premium letters cost around $1.75 per unit (labor and materials), and my standard letters cost around $.60 per unit.
Thank you all for the feedback! I'm gonna take a look at my options... looking forward to my first wholesale deal!
I agree with what @Jeff Stephens said about sorting your lists. While I have never done a 400 mailing before, I have done upwards of 200 or so. My husband and I do the letters ourselves. We organize the list by the letters we want to go out first (time sensitive, most interesting, etc..) that way we can get those out the door asap.
Another thing that works well for my husband and I is prewriting. We have lots of envelopes that already have the return address written out and yellow letters that just have the address area blank (we'll do them at random times during the week). Cuts down a lot of the work when we get ready to do a mailing.
Eventually once we get far enough into our real estate investing, we will NOT be doing this as our time will at that point be worth far more. Then we can really be like @Jeff Stephens and pay someone else to do it :)
When I was using postcards, like @Dick Rosen I used Excel/Word to print out the addresses with mailmerge. To make them look very close to handwritten, I used one of the handwritten fonts like this printed in a dark blue ink (there are lots of similar fonts available). Many of the "pro" direct mailers use something similar.
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