This is actually a fairly simple process. You just need a list of qualified leads and a simple method with which to mail to them. The great thing is that you can use direct mail to reach your target buyers and renters no matter who they may be. You need only know how to define them and where to get the information
If you’re selling a house in the $200,000 range you need to know who your target buyers are.
Are they married?
Do they have children?
How much do they make?
And of course they will need good credit and likely not already own a home. That is unless your property would be appealing to someone as a second home.
You can get very sophisticated with the process of defining your target buyer, and for certain properties like beach front condos, that may be best for vacation-home buyers out of state, that may be necessary, but for this example we’ll assume this is a local sale.
You will likely be looking for renters within a few miles, who are making $65,000 to $90,000 household income (this is based off of the monthly payments and the price of the home – debt payments should be around 30% of income), and they should be a likely candidate for wanting to own a home. Usually people who are married and have children are ideal. Age may also be a determining factor – maybe 30 to 45 years old would be good for this type of home. And the final thing you would want to look for is a credit score, if you can get it. Right now 700 is the minimum.
So how do you find a list of people who meet this criteria?
Utilize a list service like Listsource.com or InfoUsa.com. Create an account and select your criteria. You will have to adjust accordingly to get the desired number of leads. There is usually a minimum purchase amount of $50 and the leads cost between $.15 and $.20 apiece. Beware of the additional cost for additional criteria – only use what you need. After doing this once you’ll have a good feel for it and you’ll be able to select a list much more quickly the second time around.
If you’re trying to reach a tenant you will you will need to select criteria that define someone who does not meet the financial requirements of a home buyer. Lower credit score, younger, and maybe just filed a chapter 7 bankruptcy – when they lose the protection of the bankruptcy court, current owner or not, they will need a place to live and renting may be their only option. However, you will want someone that’s still making a decent income, so they can afford the monthly payments that you’re asking.
Now that you have a list of names you need to create a postcard, reproduce it, add addresses and send them out.
Your easy solution is to go to Click2Mail.com. You will upload your list to the website, then create a postcard, and this service does the rest for you!
When creating your postcard you want to be sure to get your audiences attention by giving them some kind of incentive as in Lightning Fast Tip #1 – http://acmeinvestmentproperties.com/investordeals/lightning-fast-selling-and-renting-tip-1
If you’re selling you can offer to pay closing costs or to hold a second mortgage for downpayment. If you’re renting you can offer a free month or a limited time offer monthly rent discount.
Try this on your next property that you need to rent or sell and see how many buyers you can line up!
As always I appreciate your comments and feedback. Please leave your comments and questions below.
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