How To Keep Your Real Estate Investing Mailing Lists Clean
Successfully real estate investing requires that you run direct mail campaigns to keep the leads coming in. . In my real estate investing business, I send out both post cards and letters to potential motivated sellers. Motivated sellers are people looking to sell their properties in order to relieve stress.
In today's real estate market, there are potentially more motivated sellers than you can handle. To save money and be more effective in your direct mail campaigns, you must therefore clean up your mailing lists.
This article walks you through how to get a better return on your marketing investment.
People in trouble who own real estate form my mailing lists, such as people going through divorce, people with liens, bankruptcy, etc. Most of these people need to sell their properties of they lose them in foreclosure.
People with inherited properties also form part of my mailing lists. Usually, they must continue paying the mortgage, or if they are free and clear, they are looking to cash out. The beneficiaries usually cannot fix them up and find it hard to sell them in the open market. You can make a lot of money buying probate properties
Lastly I target absentee owners. These properties are owned by land lords, people who are divorced or working out of town. Most land lords are looking to get out after having being burned by bad tenants. Usually they own several properties which can all be good deals.
MLS listings that have expired also form my target properties. Of course these people have been looking to sell, but have not been successful.
This means I sometimes end up with 1500 to 2000 new leads every week. All this means I can have 1500 to 2000 new leads a week. It is therefore very important to clean them up.
1) Geographical area
I live in a big metro region, so I can only buy houses in a small area. This means I only target certain zip codes. Avoid war zones no matter where you live.
My area is limited to not more than 30 minutes driving distance.
2) Price range
As a wholesaler the very low end and high end properties are not appropriate for me. I like to remain in the middle which also happens to have more properties and buyers, and properties that are easier to fix up.
3) Recording date
I target people who have owned properties at least 10 years. I make some exceptions with inherited property.
This means there's possibly some equity in them. Some are refinanced, meaning they may not have equity.
4) Return mail
I send 2 post cards, and if target probate leads, I send out several letters over a few months. This means I get some mail bouncing back undelivered. I remove these bad addresses to save money.
Simon macharia invests in real estate in the Dallas Fort Worth metroplex. His real estate investing business is fuelled by leads generated by direct mail and through his real estate website. Learn how a good real estate investor website can help you close more deals while spending less money, time and effort.
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