I'm looking to use the yellow letter strategy, but don't fully understand the process.
How do I go about using yellow letters?
@Carl McKenzie welcome to BiggerPockets and REI! Below are the basic elements we always encourage our clients to start with.
1. Determine who you will market to. FSBO? Tired landlords? Pre-foreclosure? Etc...
2. Offer: How can you help them solve a problem? This ties into the copy you use in your mailers
3. Frequency: How often will you contact them? Building awareness takes time. This means more than once. Ideally 3 mailers per list is a minimum.
4. Budget: What are you able to spend?
Good luck! Let me know if you have any additional questions.
I use jerry puckett's service. He's a great guy and I'm very happy with the results.
The most important process in any direct mail marketing is the list. Everyone focuses on which vehicle will win them the race, but they lack on directions to the finish line. Your list is your directions. The harder the list to acquire the better it will be.
Send two list each month and be CONSISTENT. Look into probates, code violations, late real estate tax (you can get this from your county under a right to know request), and evictions.
Once you have a list figure out how much you can afford/handle. Do not send more than 500 letters out at once. Since it sounds like you are just starting out you will not be able to handle 75+ phone calls at once.
As for the message, stick to the oldie but goodie "I want to $buy$ your house". This will allow you to gauge how effective each list is.
Last but not least, the money is in the follow up. You should market each list 6x6 (once every 6 weeks for 6 times. Only remove them if they sold to your or somebody else.
Best of luck,
I second contacting
Ryan Dossey, Call Porter | http://Callporter.com
I do have a questions for sending direct mail. How is it when putting a return address (is it necessary?) Would it be I get my yellow letters and take them to the post office drop them off at the drop box and that's it?
MQ's service - YellowLetters.com is a complete service with everything you need and a ton of options to choose from. I like their Zip Letters more than yellow letters, but they can do them both and postcards, too.
Jerry is super sharp and can really walk you thru creating an entire strategy AND he'll do the mailing for you! Check out his site HERE.
@Shane Foster broke it down the best for you. I am new myself to wholesaling however I think it's a good idea to try and do at least one direct mail campaign on your own so you get an idea of what you like, what you think works well etc. so that when you outsource you can do so on your own terms.
Just got my Yellow Letter sample in the mail (Click Here)
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