Targeting home owners.

6 Replies

Hello BP Friends! My name is Jamier Hughes. I’m from the Philadelphia area. I’ve recently started in the Wholesaling business. Which I attended a few real estate events this past couple weeks, and came across a few real estate investors that’s looking to buy. Now I’m in the process of targeting home owners that looking to sell. Just wanted to know the best way I should go about it, as far as direct mailing, etc.

Listsource.com is a good place to get your mailing list. Recently, I just sent out 330 handwritten letters. Received 8 calls. No deals closed. It's back to the drawing board. First list I mailed to absentee owners, thinking about pre-foreclosures next... 

If you want to outsource your mailing, believe you can use a site like yellowletters.com

@Cornel Smith Okay thank you. I truly appreciate it! How much would it run me to purchase a list?

Originally posted by @Jamier Hughes :

@Cornel Smith Okay thank you. I truly appreciate it! How much would it run me to purchase a list?

 I got mine from list source.com

The cost depends on volume. I mailed to 330; it was like $62. 

Hi @Jamier Hughes ,

I know a number of wholesalers in Philly. The successful ones threw themselves at it 100% and had multiple strategies. Mailings are standard, and you should know that dozens/even hundreds of others are sending cards to those same people. We're pretty far along in a hot market here in Philly, so there is lots of competition. I've seen more success when wholesalers spend more time on the street, knocking on doors, talking with neighbors, attending community meetings, etc. These strategies take WAY more effort, but they boost face-to-face interactions which have a much higher probability of panning out (or directing you to another person). Some neighborhoods have simply been picked over, and you will have to work harder because all of the easy deals have already been found. Whatever you do, give it a fair shot, but have a way to test its effectiveness. Hard work doesn't always pay off in this business if it isn't directed strategically. I highly recommend the book "Lean Start Up" for ideas on how to efficiently test strategies to boost effectiveness and limit wasted resources. 

Good Luck!

-Peter

Peter Dunne, Real Estate Agent in PA (#RS334492)
301-758-1857

In anything, persistence is key! I am starting out (about a month of wholesaling) with a full time job. If you are persistent with your mailers, or cold calls or any other form of marketing it will pay for itself. If you are doing something everyday, I recommend looking into the strategy of the core 5 tasks. This will help with keeping a positive attitude while the deals aren't flowing in. If I can sum it up, which I might butcher it... You establish 5 main tasks everyday towards your business. These can not be habits. They must be 5 strong tasks that put you out of your comfort zone. Such as .... Knock on 5 doors, attend 2 open houses(usually weekends), send out 100 mailers, cold call 100 people. Adjust them to what fits you and your strategy obviously. If you complete all 5 tasks the day is a win. If you don't.. it is a loss. At the end of the week if you win on more days then you lose then the week is a win. This will keep you more focused on the tasks at hand, then closing deals. But at the same time it will get you closer to closing that first deal!

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