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Re: An inquiry to Scott
Re: An inquiry to Scott -- Cairns Tishman Post Reply Top of Thread Forum

Posted by: Scott Rister
11/26/2002, 22:16:33

Edit
C,

Sounds like you're a person after my own heart. You're aggressive and not afraid to try new opportunities. Now, here is my main recommendation and you seem to be doing: TEST, TEST, TEST!!!

I make no bones about it that the cornerstone of my personal biz is direct mail. And for example just like you mentioned on calling the FSBO ads I get a reverse directory like from Yblost.com getting their mailing addresses and MAIL them instead of calling them.....I don't have the time and just as important I don't want to listen to the negative attitudes.

I applaud you on the steps you're progressing with and encourage you to keep going. Listen, I don't on a consistent basis use all the marketing mediums and techniques I teach. Rather, I just don't have the time as I get many many deals from multiple opportunities.

The key here is mainly to test an opportunity before going full-bore. Once you hit on some success then be able to judge and qualify your marketing costs accordingly. For example, when I'm direct mailing for true junkers in my area I'll key into properties with "assessed" tax value of $60K and under mailing to absentee owners---this is just one direct mailing approach I use. I'll send out 300 letters getting 10 calls looking at three properties which had enough motivation making offers on all and getting one great/no-brainer/can't lose deal. It's a numbers game. My response rate is about 3% and my SUCCESS rate is about .3% so is it worth it? Well, it costs me about $150 for those letters and including just a smidgen of the cost for the absentee list and those deals I wholesale make me on average $2-$3K---pigs get fat and hogs get slaughtered so leave enough on the table for the next person.

What I'm trying to state from the above paragraph is I've found just one simple marketing niche that works over and over in my area and I keep mailing and working it while I tweak and test other opportunities. You've got the right idea and don't be afraid to scrap a method/message/or medium after you've tested it out but then again when you justify the costs/per success lead basis then open the marketing guns up and let it fly.

Let me know if you have any more questions/comments.

Thanks,
Scott


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