 Posted 8/14/2007 6:51:50 PM
|
|
|
|
I’ve found after blowing through megabucks on marketing the best way to get to a deal that makes me money is to spend a lot of time up front on determining what group are the highest probability motivated sellers to begin with. Once I’ve got those in my sights I can write a letter that’s tailored just to them and get a high response because of that. (I reckon direct mail is always the best bang for the buck.) I don’t have to talk to too many before a deal pops out because I’m only contacting hyper motivated sellers in the first place.
I’ve had the best success recently focusing on sellers with houses that have big 2nds that are in default. They usually have close to zero equity and the sellers can’t sell the house so they’re easy to pick up subject-to, and the 2nds are easy to discount down to $500 or $1000 because those lenders know they get nothing if the house goes to the foreclosure sale. It’s the best of both worlds for the investor, the house is easy to buy and the note is easy to discount and create a big gob of equity.
As far as the marketing being affordable it’s the ultimate. You don’t have a huge mailing bill because you’re only sending out 100 or so letters. But the letters are super focused. If any one of the sellers calls you, you “know” there’s a pretty hot deal on the other end of the line. Anyway, you get the idea.
Direct mail rules! If you want a resource on it check out www.motivatedsellermagnet.net . It’s kind of old school but it’s affordable, and it tells you how to “think” to come up with your own marketing campaigns to get ultra motivated sellers calling. It’s how I came up with this marketing campaign and it’s rocking right now. I almost don’t want to post about it, but hey, you’re not in may market so, what the hell, I may as well help a fellow investor. I had people help me when I was getting started so ... may as well spread the love.
Make some money. Good Luck
|
|
|
|