How often do you buy mailing lists?

Question

Hello,

I've been wholesaling properties for about 4 years now. I still have lists from when I started. I haven't been as consistent with my mailing as I should be.  I know there are possible leads still in those lists, but also alot of activity has happened since then, and sellers had sold off.

Any advice as to when to get a new list to mail?  Or should I just work the ones I bought 3-4 years ago?

Thanks

Joe Gee · Answer

Hi David. For me its more of do I keep mailing to a list of owners whom I've never spoken to (because they've sold or another reason) or do I just buy a new updated list and work with that.  I mailed off recently to an old list and they called and said "we sold that property a year ago!"  I don't really have the time to scrub my lists, so its hard to gauge whether how outdated they are when there's thousands of names.

Another note I should add is that my response rate on these old lists have dwindled.  I used to get 3-3.5% response 3 years ago and now I'll be lucky to get 1%. Market has shot up in my area so theres more competition.

David Yates · Answer

John,

If you decide to work the leads you bought 3-4 years ago and find they don't fit your criteria or you can't get them under contract. I'm interested in forming relationships with wholesalers that want to get paid for leads they can't or are not using.

Joe Gee · Answer

Thanks for your input. I've been doing more of that as well.

Thomas Anderson · Answer

I never buy any lists because of the reason you stated. I always generate them myself. I go after probate, tax deed auctions, vacant houses, code enforcement, out of state owners etc. I get the info directly from the sources.