If you’ve been studying real estate investing and have not figured out how to get your phone to ring with people wanting to sell their property, this is the most important letter you’ll ever read.
It was a warm day in Southern California the windows were open and the breeze is blowing. I receive a call from Michael.
It turns out that Michael owns a construction company and has been looking for other ways to keep his business running since the economy has taken such a big hit.
Since the market has tumbled, people are not building new homes, let along making any major improvements to their own home. Business is slow.
Michael turned to real estate investing as another option.
He knows how to fix properties. Heck, he has a couple of crews trained and ready to fix and flip.
The people who ran the seminar gave them “their best” postcard, but it didn’t work. He mailed a thousand postcards and only got four phone calls.
The coach told him to drive neighborhoods and look for vacant homes or people that looked like they were moving. That was a waste of time, a waste of time that he didn’t have.
One person at a local REI event even told him to search Craigslist for FSBOs (for sale by owner). That was a waste of his effort. He ended up talking to a bunch of people that wanted top dollar for their home, wanted all cash IF they even answered the phone.
He wanted a way to get motivated sellers calling him. He knew that by having them call him, he would have an upper hand in the conversation.
Not that he wanted to take advantage of them, he just understood enough about negotiating that he would be in a much, much better position of helping someone if THEY reached out to him.
He is looking for single family homes. Three bedroom. Two bath. In a list of seven of zip codes.
“So, how many is a good number to start with?” He asks.
“Five Hundred”, I respond. “Based on the yellow letter results we have tracked, 500 is a solid number to start with.”
“OK, so what lists should we target?”
“Seeing that you are looking to fix and flip, I would target the Notice of Default List along with Absentee Homeowner List.”
Both of these lists get great yellow letter results.
“Why?” he asks.
“The Notice of Default list is a given. The people own a home and have just been notified by the bank that if they don’t start paying, the bank will take their home back.”
“The Absentee Owner list is a little different. You will find a number of ‘motivated’ individuals calling you from this list. Here are a couple of examples of the types of people you will find when mailing to an absentee owner list:”
Now, 4 months later, Michael has a thriving business. His phone is ringing regularly. He is finding great deals and his business is on track.
Note: The yellow letter results call log above is the actual information directly from our logs.
As you can see, there were 37 calls from the 500 letters.
The first column shows the date. Then the caller ID of the caller, then Michael’s phone number (yes the caller IDs were modified to protect both the callers and Michael). Then the number of seconds they talked, and finally the count of Unique inbound calls.
Here is the math for you: 25 Unique Callers / 500 Letters = 5% RESPONSE RATE.
Just in case you have never done a direct mail campaign…a 5% response is AMAZING. In the world of direct mail, a 1% response rate is considered a Home Run. 5% is OFF THE CHART!.
Awesome Yellow Letter Results! Look how many called multiple times!
Today, people like Michael are everywhere. They have spent a fortune on learning how to do real estate investing, but haven’t figured out how to consistently find motivated sellers to talk to. They are looking for solid yellow letter results.
At Upper Hand Marketing We Work With You to get Great Yellow Letter Results:
And yes, we get the mailing lists and mail the letters for you.
When you are ready to get your phone ringing off the hook like Michael, simply fill out the form below and you will be talking to motivated sellers before you know it.
When you’re ready, give us a call at 619-565-1411 or email James@UpperHandMarketing.com to get amazing yellow letter results.
Find Out How To Succeed In Real Estate Marketing. Visit http://upperhandmarketing.com