I need some advice on mailing yellow letters. I spend over $50 bi-weekly on stamps.
Any advice of other way to marketing without spending so much money on stamps?
I hate to say it this way, but if $100 a month on stamps is too much in marketing expenses for you, then you're in trouble. I don't know what your end game is (ie. wholesaling, flipping, etc.) but marketing is a key in any real estate business. If you don't have the money for that, how are you going to accomplish anything else?
Use a vendor like YellowLetters.com that can send POSTCARDS for less than 50 cents TOTAL (using standard bulk rate postage - NOT stamps). James is right tho, this is a MARKETING business and will require some budget. Of course, if you can get a deal or two done, that gets a lot easier, right? So do what you can with with you have, and remember the key is to REINVEST some portion of any profits into your on-going marketing activities.
"The measure of who we are is what we do with what we have." ~ Vince Lombardi
Thanks for the advice it help greatly.
You have a couple options. Here's a few that have worked well for us:
1) Make sure you have found a GREAT market segment to mail. If you're sending out 100 letters you don't want just one person calling you, you want as many as possible. Make it count and spend the time finding the kind of property owner that is your ideal Seller.
2) Make sure that you're message is different enough to differentiate yourself from all the other letters the owners' receive. Here's a tip, if everyone sends the same Yellow Letter, your message gets drowned out. Stand out. Some people have some crazy ideas that are fun to read through (someone suggested putting glitter in the envelop). The point is to find a good strategy that works and work it. You'll get enough disgruntled people calling, though, that glitter may not be your best bet.
3) Don't mail people. Use that money instead to find other means of getting a message across. Endless options with this one.
Best of luck!
Thank you everyone I really appreciated.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!