All Forum Posts by: Cody Alexander
Cody Alexander has started 15 posts and replied 187 times.
Post: Direct Mail works
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
Originally posted by @Kortez Walker:
Wow that is Gold information I really appreciate that . No investors ever talk about this @Russell Brazil
The reason "investors" don't talk about this is because it is a waste of money. It may work for advertising or even listing homes, however when trying to purchase homes you need to be able to narrow down and mail to a targeted list. When you do EDDM you mail to a general area where you do not have the ability to filter things like equity, years of ownership, ect. which are crucial filters when trying to buy at a discount. When you actually think about it, EDDM is MUCH more expensive. Why mail to 1000 homes where maybe only 50 actually fit your necessary criteria when you can mail to 1000 homes with your exact criteria.
50% returned mail is terrible btw, 10% is more common even when ran through the NCOA. I would try ListSource for your next list.
Post: Direct Mail Matte paper printing for postcards
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
Hi there.
Post: YellowLetters.com BLOWOUT Sale!
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
Okay BP, we went ahead and extended this sale one more day. Postcards, yellow letters, ZipLetters and typed letters ALL on sale until 5pm today!
Post: YellowLetters.com BLOWOUT Sale!
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
LAST DAY EVERYONE!!!
Post: YellowLetters.com BLOWOUT Sale!
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
ONLY 2 DAYS LEFT!
This is a great opportunity to get your marketing going! Postcards, yellow letters, ZipLetters and typed letters are all at the lowest price we've offered.
Post: 0.40% Response Rate on Yellow Letter - Looking for Suggestions
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
Originally posted by @Paul Felix:
@Cody Alexander Please verify my logic...
220K mailers results in 53 deals
1 deal per 4150 mailers
Assume that 1 in 10 responses result in a deal (10% conversion)
4150 mailers generated 10 responses
Response rate = 0.24%
Does that mean that my 0.40% response rate is higher than Michael's?
I realize that the 220K mailers that were mailed this month did not likely generate the 53 deals this month, but if 220K mailers are going out each month and 53 deals are coming in each month then I think my logic is sound.
His conversion is not nearly 10%. Michael's conversion is going to be one of the worst because he never meets a seller. Postcards bring in about .5%, Zip Letters bring in about 1% and yellow letters bring in around 5-8% on average. He has 8 employees answering phones full time monday-friday.
Post: 0.40% Response Rate on Yellow Letter - Looking for Suggestions
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
Originally posted by @Jay Hinrichs:
@Cody Alexander can you share how many mailers went out to produce 58 buys in one month for buyer quarles? this will give those who want to 10X their business a reality check into how much marketing capital one would need up front to create that kind of pipe line
Michael is sending an average of 220,000 pieces of mail per month.
Post: YellowLetters.com BLOWOUT Sale!
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
It absolutely is! These are our lowest prices ever!
This sale will end on 10/9/2015 at 5pm PST
Post: 0.40% Response Rate on Yellow Letter - Looking for Suggestions
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
We don't really differentiate between absentee and owner occupied, we typically just split it about 60/40 absentee/owner occupied. I would pull a list from List Source witht he following criteria:
- SFR
- properties under median value
- 2-3 bed
- 4+ years of ownership
- 30% or more equity
@Michael Quarles contracted 58 homes last month (some in Texas), using that criteria and the exact same letter.
Post: 0.40% Response Rate on Yellow Letter - Looking for Suggestions
- Real Estate Professional
- Bakersfield, CA
- Posts 205
- Votes 87
Originally posted by @Paul Felix:
Thank you for the info. I'm listening to podcast 81 as I type. I didn't buy my list from listsource, but I think it is fairly accurate. I'm a data guy in my full time gig and was able to collect all of the cad and tax data from my target area directly from the municipal sites. I don't know directly how much equity the owner has, but the deed date is available. Maybe I should limit the list to people that have a deed that is 10 years old instead of 5.
Please do update me on your mailer results. The more details the better.
Unfortunately that's not the best way to figure for equity. For a 30year FHA loan at 4.5% interest, there is only 20% equity in 10 years. That's why you really need to use a list provider that has an equity filter.