Marketing Campaigns Using Direct Mailing
You cannot be a successful real estate investor if you do not have an effective marketing campaign. When it comes to finding the deals before your competition it comes down to the specific techniques you are using. If you are investing in the pre-foreclosure market, your mailings are your lifeline. Someone is considered to be in pre-foreclosure when they are typically three to four payments behind on their mortgage and the bank has started their foreclosure process. These documents go on file as public record. As you may already know, you need these leads. Once you have these leads you need to market to them correctly. Here is how I market to pre-foreclosure properties. I send out a series of letters and postcards that I personally draft myself. The first letter I mail is sent out in an envelope that will catch the homeowner’s attention. These people are receiving a ton of mail from debt collectors so it is important that they see the mail I am sending. This first piece of mail is sent out in a bright colored envelope. I also hand-write the address and the return address on the envelopes to make my piece of mail more personal. This greatly increases my odds of having the homeowner open my mail.
Once the first piece of mail is sent I don’t stop there. I send out an additional four pieces of mail. Each piece of mail is sent out on a specific timeline. Every seven to ten days they will receive another letter. The highest response rate that I have recorded comes from the first or second piece of mail. This happens for a couple reasons. First of all, there are two types of personalities when you are dealing with people in pre-foreclosure. There are motivated people and there are people in denial. If someone is motivated to solve their current financial problems they are going to call you right away when you offer them a solution. These are the best leads you can get. There are also people who will take a long time to respond to you. This is why it is necessary to mail letters to them continuously. Someone may not call you until they receive your fifth piece of mail and they realize they have no option other than to see what you have to offer. If you send out only one or two pieces of mail, you may be losing out on a lot of your potential deals. Depending on how many leads you are mailing to, you may be able to keep up with this marketing by sending them out yourself. You can also have a direct mailing company handle this for you if you are not interested in writing out envelopes all day. No matter how you look at it, this is a simple way to find investment opportunities that a limited amount of people are taking advantage of.
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