Target Market For Post Card Mailout
I am designing a postcard to attract sellers. I want to mail out to at least 300 this week. I would like to see what others think about this. I don't have a whole lot of money so I'm looking for my first deal to require no more than 2k out to the seller. Would it be better to mail these to people with mortgages recorded within the last three years or to people who I know for sure are facing a foreclosure in the next couple of months. I was thinking the foreclosure list might present a problem due to back payments and reinstating costs. But it also might present deals that offer an oppurtunity to make a quick buck on an assignment. Possibly try half and half to test both markets.
Also, I have the ability to pull mortgages recorded by Lender. I know Ameriquest and Beneficial will lend at very high ltvs and this presents a great opportunity to find a seller with little equity. What other lenders could I query for high ltv balances?
thanks for any creative advice_
neutral
neutral,
A list of homeowners in default sounds more targeted to me. If you are limited on money, focus your list as much as you can. Defaults you know:
1. Own a home
2. Are very likely to need to sell it (in my opinion more so than pulling a list of mortgages)
Are you familiar with short sales? Negotiating a short sale takes care of many of your concerns about pending foreclosures.
Unfortunately, I would not expect a huge response from just 300 postcards. If that is all that you can afford right now, try mailing to the same 300 in 7-10 days if you can. Follow-up (sequence mailing) is extrememly important to increasing your response). Good luck.
Jason