All Forum Posts by: Chrissy Parsons

@Barrett A. I agree with @Ross Denman. If you are in a market with stiff competition, you need to get creative. It seems like these guys are mailing to the Absentee Owners - so you need to mail to other off-market segments. 

In any competitive market, consider Seniors with Long Time Ownership (ready to downsize or transition to assistance) and Homeowners with Low Financial Stability Scores (FSS). You can work with a mailing list broker to get recommendations - it shouldn't cost you any more than the on-line systems.

@Vinay H. has a good point. Respond to their letter and learn as much about how they operate as you can. They are probably pretty formulaic. Find their weaknesses and that can help you to emphasize what you can do better. 

@Alexander Felice makes the point about competing. You just have to find area's that they aren't in or doing well with.

I would suggest that you build connections with people who offer services to help people move and list some of those on the card. These could include yard sale specialists, estate item purchasing, packing, moving services, help re-locating.

Also list some of the pain points of dealing with tenants , maintaining a large building etc.

When you are in a competitive area, you need to find the off-market deals. You should work with a list broker who can help you mix a couple different lists. 3 that have been effective: Absentee Owners (unless there are 30 others in you market sending to them). Another is Seniors with Long Time Ownership. These folks are often looking to downsize or transition to assistance. It is also likely that they have fallen behind on updates and some maintenance so it can be a real hassle for them to spruce things up to sell the traditional way.

You can combine owner occupied and Absentee owners in a Low Financial Stability Score (FSS) list.

@Barrett A. it sounds like you have some good strategies planned. You are ahead of a lot of others coming in.

I agree with @Jack Butala that marketing will be key and that you need to get your info out to as many homeowners as you can. 

As you said, the distressed properties that can be found Driving for Dollars can be scarce and you won't find enough to reach your goals. Think about working with a list broker to get suggestions for off-market lead lists in your area.

The Phoenix/Tempe area is pretty competitive for investors. You probably don't want to put all your effort into Absentee Owners. Consider adding lists of "Seniors with 15+ Year Ownership" and "Homeowners with Low Financial Stability Scores" to find motivated sellers.

What ever list you get, be sure that it has been run through the National Change of Address (NCOA) so that you aren't wasting postage mailing to the wrong addresses.

@Spencer Gatten, congratulations on your first deal.

If what @Dave Vogt says is half true about your market, it will take some good marketing effort on your part to find a stream of good deals. Mailing campaigns have proven effective for a lot of investors. Work with a list broker to get suggestions for your market rather than going to an online system.

You can probably target Absentee Owners with Equity if there aren't too many investors jumping in your market. In some areas absentee owners are getting a lot of offers already. Other motivated seller  lists might be Seniors with 15+ Year Ownership and Homeowners with Low Financial Stability Scores.

Be sure that whatever list you get has been run through the National Change of Address (NCOA) so you don't waste postage mailing to the wrong address.

@Jermaine J Joseph - sounds like you have a good background to be successful. Have you thought about how you are going to find the properties to buy? A lot of investors use mail campaigns to find off-market deals. The key is to get a list that's different from what every other investor is mailing to. (absentee owners)

Work with a list broker for suggestion like Seniors with 15+ year ownership. Or Homeowners with Low Financial Stability Scores.

Always ask if the list has been put through the National Change of Address (NCOA) so you don't waste postage mailing to the wrong address.

@Alyssa Correthers Sounds like you have a good start. With regards to @Jose Flores Step#1, Marketing to motivated sellers, you should consider a mail campaign to find off-market leads. Work with a list broker to get suggestions for your market. Since Indianapolis is pretty competitive you probably want to mix a few lists together rather than doing all Absentee Owners. Consider Seniors with 15+ Year ownership and Homeowner with Low Financial Stability Scores (FSS).

@Jason Chan, sounds like you are off to a good start identifying the areas that you want to invest. What have you thought about how to find deals? The markets you are looking at are pretty hot, so you should consider finding off market deals with a mail campaign. 

An Off-Market Mail campaign will target people who haven't put their homes on the market but share characteristics that would indicate that they could be motivated sellers. Think about working with a mailing list broker to make some suggestions.

Also be sure that the list you get has been run through the National Change of Address (NCOA) so you don't waste printing a postage mailing to bad addresses.

@Alex Wade Sounds like you have a good start. Portland is a pretty competitive market for investors, so you will likely want to find off-market leads. Mail campaigns are a good way to contact homeowners who share motivational characteristics that they could be ready to sell. An Absentee Owner list is the most popular, but in your market they could already be getting a lot of mail from investors.

Consider working with a list broker to get recommendations. 

Seniors with Low Financial Stability Scores might be one list to think about.

What sort of list have you chosen to mail to? Different audiences require a different approach. Are you working on outbound calls or fielding response calls?

A good approach is to always get the people talking as much as you can. A simple question like

"What about our letter made you decide to call us? "

This will help steer you along a path so you are addressing their interests. Have a list of follow up questions like 

• How long have you been thinking about moving/selling?
• Why haven't you listed with a realtor?
• What can we do to help?