New to Wholesaling. Question on Direct Mail

New to Wholesaling. Question on Direct Mail

Zeshan Choudhry

Investor · Toronto, Ontario · Member since 2017 · 28 posts · 4 votes

Hi everyone, I am a new wholesaler and I am ready to start my very first Direct Mail campaign in Orlando, FL. I just had a few questions regarding how to structure the leads criteria: I am focusing on Absentee out of state owners to find motivated sellers and I have narrowed down the list to those who own SFH, min 1000 sqft, 3beds, 2 baths in Orlando. I have an option to select Loan to value % as well. Does anyone have any recommendation of a minimum % I should use? I was thinking to use minimum 50% LTV. Also I have the ability to filter on last sale date, was wondering how far back should I go on this? up to 5 years? My final question is regarding frequency of mailings. I have the option to do bi-weekly or monthly mailings with up to 5 touches. Does anyone have any suggestions? I am leaning towards monthly mailings with a 3 touch campaign for my first campaign. I know this a lot of questions, but any feedback would be greatly appreciated! Thank you!

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Austin, TX · Member since 2015 · 223 posts · 185 votes

9y

@Jose Castillo I started with 1000 yellow letters. If you remain consistent you will win!!

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John Thedford
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
9y
@Cody L.
Those DARN LAWS get in the way don't they...well...for those that respect them. By your post, it would not surprise me if you routinely break a few for a buck...and NO...I didn't hesitate to post this!
Why not post your full name so we can verify licensing? Just curious????
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Cody L.
Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
9y
Originally posted by @John Thedford:
@Cody L.
Those DARN LAWS get in the way don't they...well...for those that respect them. By your post, it would not surprise me if you routinely break a few for a buck...and NO...I didn't hesitate to post this!
Why not post your full name so we can verify licensing? Just curious????
I can promise I'm a licensed agent. And have been for years. Not that it should matter. Also I have no dog in this fight as I don't wholesale. I'm an active buy and hold Multifamily investor. So those laws you talk about don't effect me personally.
There are people who follow every law to the letter and find a way to rip people off. Often by knowing the law so well they can use obscure details to their advantage. Then there are people out there working hard and treating people fairly who might run afoul of a law they were unaware of. Guess who I'd rather do business with?
My interactions are with other humans and I make sure I'm open and honest in my dealings and I work hard to build a relationship that'll last for other transitions. It's a small world so I know if you screw over someone, you lose in the long run whatever you think you gain in the short run. My business is with those people... it isn't with our almighty government.
All that said. The reason I spend time on this site is to be positive and help people. I know how hard it was starting out. I didn't know anything. I was blessed to cross paths with people who knew more than me and they were always willing to help. So I come here to try to return the favor. I don't come here for forum battles so I need to do a better job keeping my mouth shut when I see a post like yours.
So I'm sorry. I shouldn't have called you out. I was wrong.
Best of luck in your business.
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John Thedford
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
9y
@Cody L.
NO problem. Some people don't like my posts and I understand...especially the people that want to operate illegally KNOWING the law. Then there are those that are not informed and I take the opportunity to educate them. They can take the advice or leave it. I have run into some pretty sleazy
"wholesaler" that were truly victimizing sellers. There are cheats in all businesses...and I have no affinity to deal with anyone of that nature. I have held a federal firearms license for 22 years and an agent's license for around 12 years. I am getting ready to take my brokers exam. My main business is not working as an agent, but rather buying rentals as well as running my Class III business. In the time I have held both licenses, not one have I ever had a complaint, fine, hearing...nothing because I choose to do the right thing. I certainly have made mistakes...and got my butt chewed out by my broker. I will NOT be a supporter of unlawful activities and continue to tell people the laws...and cite statute. They can take it or leave it. So, as far as I am concerned, the posts are in the past.
Have a great week...as I plan to do. I am in the process of turning over a couple of units and just had someone speak for one..my most difficult one as a matter of fact! I may sell it soon.
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Dane Peterson
Real Estate Agent · Sarasota, FL · Member since 2016 · 91 posts · 26 votes
9y
@Zeshan Choudhry
Zeshan, WOW... Amazing how many replies actually answered your question! This got quite off topic. Just curious how your results were from the mailing. Has been probably 3mo since your mail hit. I'd be curious to know what % of equity you went with and how the results were based on the number of mailers.
I personally have never had the option (I create my own lists) to filter by equity and I could be missing out! I like how you picked the exact size property and square footage that you want. It means you deal with less junk that you don't want!
The only tip I'll offer is to be careful on getting too narrow. When you say 1000sqft 3bd/2ba you could be missing out on bad information. I bet that 20% of the 2bedroom properties in my town are 3bedroom either permitted or not. Also, don't forget a 2bedroom with the right layout/sqft can become a 3bedroom and really add some equity/value.
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Allan Kyariga
Flipper/Rehabber · Member since 2018 · 17 posts · 3 votes
8y
Snitch. Lol

Originally posted by @John Thedford:

Strictly using contracts to broker is illegal however you find your buyers. Closing and then reselling is legal. I filed complaints on five crooks today for brokering without a license.
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