mailing lists?

Question

I am new to wholesaling and want to start marketing to find motivated sellers. I am ordering bandit signs and making flyers. I also want to send out postcards in the mail. Where do I find mailing lists and better yet what type of mailing lists should I be looking for? Any feedback or advice would be great. Thanks!

Chris B · Answer

Frank,

Your approach to try many marketing "fishing nets" is a good idea, as a  wholesaler you want multiple ways to attract sellers.

Each way of marketing has a way of working - or not - depending on how you implement it. Keep that in mind. A good list will mean nothing without some good direct mail copy.

My advice is to focus on a main channel, and only work on the second channel (eg: bandit signs) when there is NOTHING to do to perfect the first.   So for example, spend a week getting your great copy written for your list - and AFTER sending off your list use the next few days to create your signs and put them in place, then repeat.

Anyway, that was off topic - Listsource.com has been good for me. As a newer wholesaler, I've been having better luck with Direct Mail from ListSource than with bandit signs - but I also put a lot of time into perfecting my direct mail copy.

Hope this helps.

Frank McGovern · Answer

Thanks Chris!! I should be putting my bandit signs out this weekend and will definitely be looking into direct mail real soon.

Jeff Warner · Answer

I think that is a good plan. There are people on here that started with REO's but dealing with individual owners is much easier and a great way to get started.

Jeff

Jeff Warner · Answer

Frank,

Read my post above, that is directed toward private parties. I wouldn't exactly call them fsbo's because that would be a home owner that is actively trying to sell their home right now. IMO, The best wholesale deals will come from homes that are NOT currently listed for sale.

Jeff

Frank McGovern · Answer

Thanks Jeff. Our posts went through at the same time so I didnt read your first response til after my second post. I hear what you are saying about  the FSBO. I meant to say individual owners. I dont want to do REOs, forclosures etc. to start. Thanks for the feedback Jeff and Justin!!

Justin S. · Answer

There are several companies that provide you lists.  I've used Melissa Data before with good results.

Your list will depend on your exit strategy.

If you want pre-foreclosures, then there is a list for that gives you addresses.  If you want to do sub2 or lease options, then there is a list for that, etc.  So focus in on your strategy, and go from there.

Frank McGovern · Answer

Thanks for the feedback. I want to start out with fsbo. Any mailing list suggestions for that?

Jeff Warner · Answer

Assuming your doing a typical Assignment of Contract and not Short Sales or any type of seller carry deals, you can start with a list of Absentee owners for whatever area your targeting.

List source and Mellisa data both have lists that can be ordered with your pre-determined criteria such as year built, square footage, lot size, tax assessed value, etc. This is a numbers game so you'll want to mail 500-1000 letters to get the phone ringing.

Before you order the list I would look into homes sold in the last 6 months and see how many 2br's have sold vs 3br's. In my area and pretty much anywhere where there are lots of families the 3br's sell much faster. I'm not saying to stay away from 2/1's but just know the stats before you put one under contract. A realtor or title company should be able to pull up those stats for you.

Jeff