I am having a bit of trouble deciding on what to put on my mailers. Should I put "I buy houses." Because that seems a bit too rash. I've heard that others do this on the podcast and clearly they have had success. But I am curious to know what you guys have used. What works for you with certain audiences? I am completely new so could I be just overthinking it? Is it more in the appearance versus what is actually said?
Never count someone else's money. Never believe what you hear and believe only 2% of what you see. Too much b.s. without a smitten of proof.
Just write naturally. Believe it or not, the words in the letter mean nothing when letters go to the wrong people. When letters get to the right people the letters are still useless when the people don't want to sell.
The, "I BUY HOUSES FOR CASH" and the likes is really sickening.
This is one letter I send. I always write that I pay the fair market price for the property. Then, when you make your offer you deduct for rehab, cost to sell after rehab and you profit margin.
Dear Mr. Smith:
If you are interested in selling your property, I would love to purchase it. I am willing to pay you the fair market value, pay cash and can close escrow really fast. Since I am a private investor we can save brokerage fees and several other costs.
Your prompt response will be appreciated since I am currently looking for a property to purchase.
Thank you very much.
@Jack Orthman See that is a decent message. It does not come across as invasive, keeps it to the point and easy enough to understand. Thank you for your consultation!
Figure out who you are mailing to, first. Is it probates? Foreclosures? Absentee owners? etc...
Once you know who you are mailing to, create a message that speaks to them. You would not want to send the same message to an out-of-state landlord as you would to someone who's grieving the loss of a loved one.
Be sincere and not too salesy, but you do want to catch their eye.
And finally, don't get wrapped around the axle. Don't get caught in the weeds. Don't get stuck in never-ending analysis paralysis. (Should I go on? Yeah, I didn't think so. lol) My point is to take action. The Wholesaling Inc podcasts that I listen to all of the time say to take Massive Imperfect Action. Progress Not Perfection. Get started. Make it happen. You can always tweak the message later if you need to.
@Aaron P. this one is working for me, you can try it too.
@Aaron P. I would just start by keeping your mailer short, sweet, and to the point. The only way to know what works in your market is to test it. If you want something a little softer go for a handwritten letter or postcard rather than the big bold I BUY HOUSES postcard, and see how that works out.
@Barry Pekin You are absolutely right. I do not have my target market defined and I need to spend some time defining who I want to target and how to market to them. What is causing me delay is the financing/purchasing side of the deal. I do not know enough about that specific area and I am listening to every single podcast that BP has put out to identify how to do such.
@Ehsan Rishat Thank you for the example. It definitely looks 'important' enough to catch a homeowners eye. What is your RoR (rate of return) using this example? What audience do you market this towards?
@McKinley Crowley That was my initial thought being concise and come across as someone looking to help versus someone just wanting to buy.
Now I know you can get these lists in the US of A, I am in Canada. So my next step would to be to call the municipal government's office to get a hold of the tax delinquency office and see if these lists are viable here? Also, I need to define what audience I want to encapsulate.
My question is what lead you to go after a specific audience? Why focus on one group over another and what factors play into that?
I don't know of any list brokers in Canada - but if you find one, consider some motivated owner occupied targets. For example, Seniors who have been living in their house for 15 or more years are often ready to downsize or transition to assistance.
Your letter to a senior needs to tell them "it's easier than you think". No open house with strangers coming in. No updating for fixing those projects you haven't gotten to.
I wrote a blog about composing letters like this.
Privacy law in Canada is such that it is unlikely you will able to purchase ready-made lists of mortgage delinquencies, etc. The municipal / provincial tax authority is unlikely going to make such information available to you aside from what is published for tax sale.
Most probably, you will need to build your own lists (by driving/cycling/running neighbourhoods, combing through the public portion of the provincial land/tax registries, etc) or take a more blanket approach - i.e. Canada Post has a offering which will allow you to target a postal code / neighbourhood.
@Roy N. Yes. I had a feeling that the delinquency lists are not a thing in Canada as we have these privacy laws in place. I was into some brainstorming last night and was considering a mass mailer/door knocker type mailer. Of course I will check to see if it fits within the confines of the anti-spam laws.
After some digging, I have come across some valuable websites for direct mail campaigns in Canada.
Canad Post mailer options
https://www.canadapost.ca/sam/step1-target.aspx <-- once you input a postal code, you can click on the interactive map and select specific zones to identify # of houses, upload your custom template, choose the week of delivery, recoccuring frequency and get the cost once you have selected all your options.
Turns out that the anti-spam laws in Canada are online (e-message) specific and do not include conventional mailers. (Read the whole act this morning -_-)
Here is the actual Act
You could save yourself the cost of mailers if you delivered yourself but is that the most productive task to do for your time. Subject to the beholder.