#159: Using Direct Mail To Buy Hundreds (Soon To Be Thousands) of Units And Why Selling Properties Is Wise With Ryan Corcoran
Jun 13, 2023
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Ryan Corcoran, a multifamily investor and marketing expert, shares his successful strategies for using direct mail to acquire hundreds of units. He discusses the benefits of being transactional, the importance of selling properties, and his direct mail strategy. He also touches on his development game plan, the advantages of direct mail, and how his underwriting criteria changed. If you want to unlock the potential of direct mail campaigns and maximize profits, this episode is a must-listen.
Taking on larger properties can be more beneficial in the long run despite challenges.
Being transactional in real estate investing can generate significant and quick profits.
Direct-mail strategies are effective for finding off-market real estate opportunities.
Deep dives
Why smaller multi-family isn't always the best option
The speaker questions the common belief that smaller multi-family properties are the best investment option. He suggests that taking on a larger property, despite its challenges, can be more beneficial in the long run.
The importance of being transactional with property investments
The podcast episode highlights the importance of being transactional in real estate investing, particularly with smaller properties. The speaker emphasizes the need to generate significant and quick profits by wholesaling or flipping properties, rather than solely relying on long-term cash flow from rentals.
Direct-mail strategies for finding off-market opportunities
The episode explores the effectiveness of direct-mail strategies for finding off-market real estate opportunities. The speaker shares personal experiences of having success in uncovering deals through direct-mail campaigns. They emphasize the importance of pursuing direct-to-seller marketing to stand out and find good investment options.
The Power of Direct Mail in Finding Deals
Direct mail has been a key strategy for finding deals for the speaker's business. It has evolved over the years, from handwritten letters to hiring local help, to scaling up to thousands of letters per month. The speaker emphasizes the importance of consistency and timing in direct mail marketing, highlighting that someone may not respond to 15 letters but may be ready to sell on the 16th. They also discuss the significance of tailoring the content of the mail to different types of sellers, such as presenting a professional tone for multifamily property owners and a more distressed homeowner approach.
Transitioning to larger development deals
The speaker shares their shift to pursuing larger development deals, highlighting the mindset change necessary to overcome the fear and complexity of dealing with bigger properties. They attribute their success in moving into larger deals to networking opportunities that arose from direct mail marketing. They emphasize the importance of direct seller marketing in finding these opportunities and express skepticism towards relying solely on MLS-listed properties. The speaker also mentions their cautious approach towards underwriting deals and the avoidance of depending on future refinancing plans.
This week, we're diving into the world of direct mail marketing with our guest, Ryan Corcoran. Ryan is a multifamily investor and marketing expert who has successfully utilized direct mail to acquire hundreds of units, with plans for even more. In this episode, Ryan shares his proven strategies and techniques for standing out in a crowded market, analyzing potential deals, and maximizing profits through strategic property selling.
If you want to unlock the potential of direct mail campaigns and make informed decisions regarding property selling, this episode is a must-listen.
Key points from the episode: 1. His real estate journey 2. How he finds his deals 3. Why you should be more open to being more transactional 4. You should sell! 5. His direct mail strategy 6. His development game plan 7. The benefits of direct mail 8. How his underwriting criteria changed 9. You should be actively looking for deals
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