Updated over 9 years ago on . Most recent reply
Criteria Question. Opinions? Advice?
Hello all,
I am further building on my wholesale business and I'm now going to test out listsource.com leads. Understanding that we are in a seller's market here in Texas. I am considering pursuing a small list but not sure if it totally makes sense or worth the test. Can you all help me?
Do you all feel 7+ year old mortgages, with lower LTV % a good criteria to pursue?
i.e. Mortgage Origination < 2008 & 1-50% LTV
If not, please feel free to share criteria that may be more effective or has been effective in your wholesale business?
Most Popular Reply
I've looked at a lot of list services and I don't really think they are worth the money. When you look at how much you spend on direct mail and how low the response rate is a list a poor investment. Better options, how about driving for dollars and focusing on a neighborhood that looks like it will be the next hot spot and mail to everyone there. Also, one of my favorites is to go on craigslist and look at the for rent by owner, that group may be motivated to sell because they are in the worst part of the life cycle of a property owner, - they own a property that they are not making money on. Finally, if you are going to purchase a list focus on non-owner occupied that have been owned for more than 12 years, these owners are reaching the end of their depreciation cycle and their accountants might be pushing them to sell.