25
Jun

Direct Mail vs Email is the million-dollar question.

As a part of the ever-bustling New York’s real estate market, we at RSOLOGY LLC, Brooklyn, NY have always tried to be innovative in getting in touch with our clients.

The ushering of the digital age did widen the scale of marketing avenues, however, all the noise began to confuse the results. We realized a pattern in the response rate of digital compared to direct mail that we were running on a small budget.

As it turns out, direct mail response rates were about 10 to 30 times higher than that of digital.

That is exactly what my real estate company, RSOLOGY LLC, Brooklyn, NY noticed when we compared ROI and response rates of Direct Mail and digital at several places, including the thriving New York real estate market.

Here are some of our key takeaways after running multiple successful direct mail campaigns.

The 3 Big Yes for Direct Marketing

Better response rates: The Direct mail response rate is about 4.4%, according to several studies and surveys. Compare that to the response rate of 0.12% for digital mails. You have a clear winner here.

The feel: The age-old ritual of checking your mailbox and the excitement of opening an unexpected envelope has never failed.

Make your message an experience.

When your pitch is coupled with the experience of
interaction with direct mail, conversion is almost guaranteed.

Targeted audience: You can target your audience and track your specific leads unlike digital mail and ads which are hard to track.

The Strategy:

Who is Your Target?

Knowing your audience is the most important thing in direct
mail.

For example, in a certain area we got a spectacular response rate when we targeted prospective leads for Probate lists or a Pre-foreclosure lists. We’d gotten 0 responses from the same area if we’d targeted the leads with messages for absentee-owned property.

Unlike the popular opinion, tracking and targeting in direct mail is very much possible. To give you an example, I just love the USPS Every Door Direct Mail Tool.

Just enter the Zip Codes based on your area and it shows you
the number of residents, number of businesses, age range, average household
size, and average household income of that zone.

Consistency is Key:

Be consistent with your message. Approach multiple times otherwise no one would pay attention. We would commonly arrange for at least 5 touches. It is ideal to determine the length of the probate process in your state and spread your campaign accordingly. The idea is to be in front of the client when he decides to sell/ buy.

Be Memorable:

Small efforts goes a long way

Working on the aesthetics of your direct mail does wonders.

When someone receives a beautiful, hand-written, aesthetically pleasing letter in their mail box, they feel compelled to respond, according to the concept of “reciprocity” in psychology.

In our case, instead of spending a lot of time, we used scented and colored envelopes and handwritten notes made by Yellow Letters Complete.

YLC also took care of writing our messages on the beautiful cards and sending them to the addresses.

Neither did we have to worry about tracking the letters over the 5 touches. It was an automated process where the dates were set for the letters to go out.

Outsourcing the whole process to YLC and focusing just on own expertise was dramatically effective for our productivity.

Shruthi Banjan
RSOLOGY LLC

Category : Uncategorized
12
Jun

We know that handwritten mail gets more response than generic mail. Now, you can combine the personalization of real handwriting with the volume and scale of postcards!

Watch the video below to learn more and give us a call if you’d like to receive a quote on your handwritten direct mails.

Introducing Handwritten Call-to-Actions on Postcards

Category : handwritten cards | postcards
23
May

Whether you’re a beginner or veteran in real estate investing you need to watch this video.

Featuring a long-time customer, real estate investor and coach, Joe Barletta.

Joe share some great tips with the Yellow Letter Complete audience.

Some of the things Joe will reveal are:

1. Why you need at least 3 months of consistent marketing?
2. How to find a list that lazy investors don’t do know about?
3. What is your campaign schedule and frequency?
4. What is your lead intake process?
5. How to increase productive with outsourcing your mail
6. What type of follow up system do you have?

About Joe Barletta

Joe Barletta is the creator of the Milestone Real Estate Investing Systems. Starting in 2002, he is a highly successful full time wholesaler, rehabber, rental property owner and real estate broker. In addition, he has helped hundreds of students/investors to create dynamic results in their lives and businesses.

Category : Uncategorized
14
May

Are you unhappy with your response rates?

You sent out a boat load of post cards but hardly got a response. Yet so many investors and wholesalers swear by using direct mail.

What’s the problem? You want to learn the secret? Yes?

Then read on…

Leads are vital for any success in any business. But they
can be like unruly ADHD children who need constant attention to stay on track.

To get your leads to response… you need to master the follow
up.

You need to nudge them gently. Consistently. Strategically.

Nurture them the right way, you you’ll reap real rewards.

How to Nurture Your
Leads the Right Way

Many businesses fail to effectively nurture their leads
because they treat all leads as equal and use “one size fits all” approach.

But just like individuals vary, your lead type also greatly
varies.

In real estate investing and wholesaling, we have classified leads into 3 broad categories.  

Each category needs a specific follow up campaign to enhance
the response.

Let me walk you through these different follow up techniques
we suggest:

  1. Forced, but not urgent
  2. ‘Not forced, and not urgent’
  3. ‘Urgent and forced’

Forced But Not Urgent

This is a high value lead category albeit the one that takes
long time to warm up before they take the desired action. Let’s say a typical
lead such as tax delinquency, divorce or probate lead. They are under mild
pressure with no urgency and therefore, patience is the key here.  Dropping them an email once a month for at
least 3 to 6 months will warm them up, grab their attention and nudge them to take
the desired action.

Forced and Urgent

Notice of default leads comprise of leads in “Forced and
Urgent” category. A regular weekly or fortnightly follow up for at least a month
will do the trick.

 Not Forced, but
not urgent

Absentee owners belong to this lead type. These leads should
be followed up for 3 months, sending them one email per month.

Identify your lead category

Once you have an insight on the type of lead categories, you
need to ask yourself, what is the lead category that you are marketing to? The
answer to this question will tell you broadly the type of your marketing
campaign.

So, once you have bagged high quality leads, right follow up marketing strategy can give you massive returns with minimal efforts. Within these 3 broad lead categories, there are several small sub categories which can be targeted with laser precision with a tailor made strategy for your particular kind of leads.

We can assist you with a tailor made follow up strategy.
Call us now for a personal meeting.

Category : Uncategorized
9
May

Looking for a way to stand out among your competitors and get results? Try sending a multi-touch campaign!

Multi-touch campaigns are a great way to build your credibility. Since you are mailing to a single list of leads more than one time, you stay on the minds of your target audience. At Yellow Letters Complete, we can help you create a unique cost-effective campaign with a variety of mail piece and color options to choose from.

Multi-touch campaigns also serve as an effective way to test a variety of mail piece options. Without testing, it can be difficult to gauge which mail piece will bring you the most success. What works well can differ from one audience to another. However, you can increase your chances by trying different approaches with each touch.  You can learn more about the many benefits of a multi-touch campaign here.

When creating your multi-touch campaign, we can make each touch unique. This can include varying the ink, paper, and card stock color. You can also simply mix and match your mail pieces to each touch stands out among your target audience. Depending on the season, we can also coordinate your campaign to match! With spring in bloom, here is a great example of a seasonal multi-touch campaign:

We offer a variety of mail piece options to help you make the most of your campaign including postcards, yellow letters, stationery letters, and more! Let the friendly staff at Yellow Letters Complete help prepare your colorful direct mail marketing campaign today!

Category : direct mail marketing | Drip Campaigns | multiple touch campaign
30
Apr

Do you feel like your direct mail marketing is in a rut? At Yellow Letters Complete, we can help! We offer a range of colors to help your mail piece convey your message. Whether you’re looking for an elegant, professional appearance or want to make a splash with vibrant colors, we have options to fit your campaign.

Colors can evoke emotions, guide reactions, and motivate response. Continue reading to learn how to thoughtfully use colors in your next direct mail campaign.

Red

Red evokes a sense of urgency, so it is perfect for time-sensitive campaigns. This color is bold, powerful, and stands out. Since red can stimulate response, be sure to keep your contact information in an easy to locate space.

Blue

Blue establishes trust and creates a sense of peace. For campaigns that deal with sensitive or stressful topics, blue can help your leads feel assured. By using blue, you are presenting yourself as a reliable source.

Green

Green encourages relaxation and may inspire your clients to reach out. Often associated with nature, using green in your campaign can express to your leads that your business is thriving or growing.

Purple

Purple communicates luxury and wisdom. Using purple in a campaign can convey that your business is unique and may offer creative solutions.

Yellow

Yellow conveys feelings of joy, optimism, and happiness. It can lift spirits and create a sense of cheerfulness. Another perk of using yellow is that it can also stand out and grab your target audience’s attention.

Pink

Pink inspires compassion and kindness. Consider using a pink in your direct mail marketing campaign to intrigue your target audience and create a welcoming tone.

Orange

Orange motivates action and positivity. This is a great color option when trying to influence your target audience. It’s also somewhat rare, so it works well to grab your audience’s attention.

Black

Black stimulates curiosity. Perfect for a sophisticated appearance, this sleek color can evoke a sense of awe and can motivate your leads to quickly open and read your message. 

White

White expresses purity and simplicity. Choosing to use white in your campaign can help your mail piece appear simple, unburdened, and modern.

Gray

Gray indicates stability. to your readers. Smack dab between black and white, gray is a natural balance. Gray can be a great option for a campaign that wishes to communicate dependability.

Still wondering which color is right for your campaign? Contact us today to discuss your direct mail color options!

Category : direct mail marketing | hand addressed envelopes
26
Apr

For over 10 years, Yellow Letters Complete has helped real estate investor with handwritten direct mail. Our business is for wholesalers who want quality marketing that builds their brand and making an impression.

But high quality, personalized mail is only 1/3 of what it takes to be successful. In addition the media a message you need: (1) a strategic follow up process and (2) a targeted list of motivated sellers.

Today our goal is to walk you through some of the leads we can source as well as a variety of other places where you can find motivated sellers for your business.

First off, let talk about the databases of leads we can pull and what your options are:

We are able to pull them by county or by zip code, and will suppress the data within those leads so that you aren’t wasting your marketing dollars on the same lead over and over. The leads we have ready for you are:

  • Notice of Default – leads that the foreclosure process has began
  • Pre-Notice of Default – leads that have mortgage past due 30 to 90 days
  • Absentee Owned Properties – inherited, rental, vacation, or vacant properties
  • High Equity – properties with 50% or more equity

Where Do You Find Sellers That Are Motivated?

The key to having a successful wholesale real estate business begins by having a quality list of “motivated sellers.”. If you don’t have inventory, aka motivated sellers, to buy from, then you aren’t going to have inventory to sell. And you want to find sellers that are motivated, ready, and willing to follow your direction and terms.

So, who are most likely to be those motivated sellers, and how where do you find them? We have a few suggestions that have proven to be an excellent source of the sellers you need and want for your wholesale real estate business.

  1. Out-of-state landlords
  2. Absentee owners
  3. Owners of vacant houses or land that are in the path of growth
  4. Owners that have received Notice of Default
  5. Owners that have received Pre-Notice of Default
  6. Owners of high equity property, usually properties owned for 15 years or more
  7. Visit the local unemployment office. Sounds harsh, but many of those that are there could be in trouble of losing their home. Have business cards to hand out and flyers to post on bulletin boards, car windshields, etc.
  8. Place a flyer on bulletin boards in larger stores
  9. Placing ads on Craigslist sounds old school, but they still work
  10. Read Craigslist ads in search of rental properties and approach the landlords
  11. Buy cleaned and filter zip code leads list from Yellow Letters Complete and let us create an eye-catching mailer to send those leads
  12. Again, this sounds harsh, send letters to divorce attorneys
  13. Mail handwritten letters with business cards to FSBO properties
  14. Post ads on Facebook pages and other online networks with the title “We Are Buying Properties”
  15. Send out letters to flip properties that have been purchased in the last five years
  16. Send handwritten letters to Estate/Probate Attorneys
  17. Place signage in the neighborhoods and zip codes that you want to target “We Buy Houses”
  18. Send handwritten letters with several business cards to credit repair agencies and counselors
  19. Send handwritten letters to those going to prison on a lengthy sentence
  20. Send handwritten letters with your business card to area realtors
  21. Send handwritten letters to employees hit by layoffs
  22. Network with fellow investors
  23. Send letters to owners of section 8 properties
  24. Post ad in local newspapers – print and online with “We Buys Houses” at the top
  25. Send handwritten letters to owners of properties that have a lien against it, such as HOA lien, contractor lien, mechanic liens, tax liens
  26. Send handwritten letters with your business card to new home salespeople
  27. Place signage near new home subdivisions – “We’ll Buy Your Old House”
  28. Send handwritten letters with business cards to mortgage companies
  29. Place help wanted ad on Craigslist for bird dogs
  30. Send handwritten letter and business card to those on bankruptcy court schedules
  31. Send handwritten letters with business cards to Accountants and CPA firms
  32. Send handwritten letter with business card to real estate attorneys
  33. Advertise “We Buy Houses” using Apparel with Logos: Hats, T-Shirts, Golf Shirts,
  34. Send letter with business card to those on list for car repossession
  35. Send letter with business card to carpet cleaners, painters, etc.
  36. Send letters with business card to local code inspectors
  37. Place flyer and business cards on bulletin boards of nursing and retirement homes
  38. Place an ad on Craigslist to put out door hangers designed by Yellow Letters Complete that have your contact information under “We Buy Houses” on both sides of the hanger
  39. Drop off a flyer and business card to any house with a “Moving Sale” advertisement
  40. Place flyers and business cards in the local hair salon and barber shops
  41. Send letters with business cards to insurance agencies and brokers
  42. Chat with your local mail carrier if anyone is moving or has moved
  43. Send letters and business cards to multiple property owners
  44. Place ads in the free newspapers like GreenSheet, PennySaver with the first line “We Buy Houses”. If they offer online and print ads, do both.
  45. Send letter and business card to the local electric, gas, and water companies
  46. Send letters with business card to the REO division of banks and mortgage companies
  47. Look for HUD and VA houses
  48. Watch the local papers for tax sales
  49. Look for estate sales
  50. Check with local city halls for properties with code violations
  51. Look for condemned and/or fire damaged properties
  52. Place a magnetic sign on your vehicle
  53. Anywhere you can, leave some business cards
  54. Wear attire with your business logo
  55. Billboards, radio spots, TV spots are excellent ways to get motivated sellers calling
  56. Have a full-page ad in the local yellow pages
  57. Review MLS listings for junk properties
  58. Review MLS for expired listings
  59. And you can buy leads from Yellow Letter Complete as well as other services like DataTree, AgentPro247, ListSource, and MelissaData

More Ways To Find Motivated Sellers

There are a lot of other ways to find plenty of motivated sellers, but you won’t find them just sitting there. To be one of those successful people you see, you need to do what they do. Any direction you look, there are motivated sellers, and most are willing to work your way because they don’t know where else to turn. You are the solution that so many of them need.

You don’t have to work all 46 ways we have listed here. Choose one, two, or three of them and go after them with a vengeance. If you’re aggressive enough, you’ll find motivated sellers.

The Tools and Tricks Of The Trade

You may hear people say that the market is too hot to find wholesale real estate deals today. And your first mistake is to believe that statement. If you aren’t ready to jump on the suggestions we listed above, do the drive and call method, which can be time consuming and the potential is limited, but it has been known to produce results.

The other tools and tricks we mentioned have been used by real estate wholesalers with great success. But if you don’t use them right, they won’t bring much ROI for you, take a look at what we have learned over the years through our customers:

Your Bandit Signage

We mentioned these above and you may have just glanced over that, but bandit signage is ideal not only in new home subdivisions as we suggest earlier, but in busy intersections of low-income areas too.

Placing signage with “We Buy Houses” is one of the best strategic ways to get properties coming to you, you just need to place them in the right places. By focusing on low income areas, you’ll get the attention of landlords and owners that can’t keep up with repairs and are ready to sell. And always check local governing laws where you can and can’t place your signage.

Newspaper Ads Placements

Determine the area and zip code you want to focus on and place both online and print ads in the local paper. Don’t run the same ad every time, alternate and rotate them, and track the response rate of each. Samples of ads that have worked for other wholesalers are:

  • WANTED!
    HANDYMAN PROPERTIES
    Call 24hrs Recording (333)444-5555
  • We LOVE UGLY HOUSES
    CALL TODAY FOR QUICK CASH SALE
    (333)444-5555
  • WE BUY PROBLEM HOUSES!
    CALL TODAY FOR A QUICK CASH SALE
    (333)444-5555

A Direct Mail Campaign

All the above discussed methods work and have proven to be successful. But none are as effective and successful as direct mail is definitely the most effective and profitable method.

With the direct mail campaign, you can format your leads to target foreclosures, out-of-state owners, vacant houses, or any other classification you want.

You want to filter your lead list by criteria of “wholesaling-specific” and “year built”. Keep focused on neighborhoods with houses that are 15 to 20 years old. Direct mail works best when you stay on target and have created a good direct mail piece in the form of a letter or postcard. And you need a system in place where you can track the response and manage multiple mailings. All of this is what we do at Yellow Letter Complete!

Making Blind Offers

blind offer to motivated sellers

Blind offers are where you make an offer without seeing the property, and while this may see scary and even crazy, take a moment to read the process.

Take a list of listings that are active and have keywords in them like handyman special or needs repairs. These listings are screaming wholesale special!  After you have this list compiled, send them a letter with your business card offer a lowball price, like 40% to 60% below list price. You’ll need to send out as many as 150 or more before you’ll see any interest, and then you should see some counteroffers come in.

This places you in negotiation stage and this when you’ll want to arrange a time to see the property. You’ve only made an offer, you aren’t obligated to purchase the property, so no harm in trying.

When You Get Response – What Should You Ask?

Now you have motivated sellers calling, what do you do now? There are five questions you need to ask, after you have chatted with them to create a rapport:

1). Why are you selling this property? You need to know what their motivation is in selling the property.

2). Do you own the property outright or is there a mortgage?

3). What is the property valued at?

4). Does the property need repairs, if so, what kind?

5). And then the big question is, what are you wanting for the property?

Hints you can take from these answers will help you determine the seller’s motivation. If they are asking for much less than the property is worth, this indicates an eager and motivated seller. A final question once you have discussed these five questions, is “When are you need to close on this deal?” If it is quick, this is another indicator or an eager and motivated seller.

Category : Uncategorized
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