All Forum Posts by: Ehsan Rishat

@Andrew Allen Welcome to BiggerPockets!

Since you are attending REIA, you might want to ask the local investors what marketing strategy is giving them good results. Follow what successful investors in your area are doing. This will save you both time and money.

@Tyler Bobo 300 prospects four times is better than mailing 600 prospects twice a year. Most of the calls come from follow-ups so you should think of following up more than four times a year. I follow up once a month for 6 months before I stop mailing to the list. Also, try a mailing without a fridge magnet and see if the response rate drops or not. If it doesn't drop, then consider having more prospects on your list. 

@Maya Patterson Welcome to BiggerPockets! Try to attend local REIA meetups and slowly start to build up your network. This will help you long term.

Best Wishes!

@David Paez although absentee owners are more motivated, I select both when purchasing a list and the response rate has been good so far. 

Direct mail is a numbers game so when you are targeting a large volume, sometimes you will reach some homeowners in their bad times no matter if they are absentee-owned or owner-occupied.

@Michael Varela Congratulations!

@Justin Kliphouse Try sticking to one marketing method and dive deep into it. If you are trying to send direct mail, make sure your list has at least a thousand records and you're following up with them every month until response rate drops below 1%. I usually send 6 mailings to my list before I purchase another one. And if you have an assistant to make calls for you, make sure to call 300 people a day. Best time to cold call is in the morning from 8 am-9 am and 4 to 5 pm in the evening.

@William Pailes Absentee is very competitive nowadays but still, if you are consistent with your mailing, nothing can stop you. I would suggest to market to a motivated list like tax delinquent, probate or divorce at first since not many investors send them direct mail and then slowly move to absentee once you close a deal or two. I usually mail to absentee homeowners and get a good response.

@Joe Worth Congratulations on your first wholesale deal!

@Brian Goodling welcome to BiggerPockets and best wishes for your journey!

@Nicole Heasley Beitenman, make sure you start with a mailing list of at least a thousand records. The more the records, the better the chance of a conversion.

Always target off-market properties in your direct mail. You can purchase an off-market list from Listsource. They have options to filter out by equity, last market sale date and many more. I will attach a photo of my list criteria with this post.

You need to make sure to have enough budget to mail to the same list at least 5 or 6 times. Don't be frustrated if you don't get enough calls from your first two mailings. This happens and is quite normal. You got to stick to your plan which is mailing them 6 times. 

Do not overthink the template of your mail piece. Just do a bit of research and make a template of your own. Let me know if you need any design help and I can send you some of my best mail pieces.

The key to success is to be consistent with your marketing no matter what marketing strategy you use.