Collecting Keys - Real Estate Investing Podcast EP 48 - How to REALLY Do Direct Mail to find Off Market Deals
What did you think of todays show??
There’s always someone looking to sell their property. Some of them might not have thought of it until you’ve presented it to them. It’s up to you to reach out, find leads, and close good deals with different marketing strategies.
In this episode of Collecting Keys Podcast, we’ll talk about the power of direct mail marketing in finding good deals. Make the most out of it by learning to use it effectively and efficiently.
Here are some power takeaways from today’s conversation:
- Reach out for opportunities to find the right buyer
- Mail directly to your target demographic
- Customize your mail
- Be consistent and follow up with your leads
- Focus on quality over the quantity
Episode Highlights:
[3:50] The Struggles of Real Estate
Have a well-established team to take care of your units. Scale your real estate business to secure your finances and double your net worth over time.
[14:04] Opening Opportunities for the Right Buyer
You need the right processes to find the right buyer. Reach out and open up opportunities to many others. Being known for your good reputation allows more opportunities and larger margins on your deals.
[18:00] Finding Deals
Find good leads and close deals using direct mail marketing for off-market real estate. Though more costly, this strategy gives you a better chance to reach your target demographic. Unlike cold calling, direct mail is a warm sales process that yields consistent and quality deals.
[22:40] How to Make Direct Mail More Efficient
Despite its costly drawbacks, you can make direct mail more effective by:
- Optimizing for your target audience.
- Customizing your mail to stand out and be more credible.
- Being consistent. You might not be what they need at first, but you can be there when they’re ready to make a deal.
[31:09] Making It Work
Cold calling or texting doesn’t always work in all markets. Focus on quality instead of quantity. Be consistent with your marketing strategy to reach its full potential. Have a good sales and follow-up process to turn your leads into closed deals.
Notable quotes from the Episode:
[8:07] “...if you’re going to do real estate you probably should do it at some level of scale. You shouldn't just do one because if you have one rental property, and something goes wrong with it, you now have personal liability and your finances...”
[21:51] “...the advantage is you can be much more strategic about who you target, and you can guarantee that you’re gonna be getting in front of them...”
[33:40] “...when it comes down to leads, it’s all about quality over quantity...”
Resources Mentioned: