Yellow letter/Direct marketing for multi-family

[TangoWhiskey]

Hi Everybody,



Does anybody have experience with a mass marketing mail out campaign like the yellow letter technique?



I'm about to start marketing for multi-family properties in a serious way with a partner. We plan to do a generic yellow letter campaign for properties up to 10 units and a more customised package for owners of 10+ units.



Julie Broad had an article in the RE Investor about a campaign she ran that resulted in only two deals for 6500 letters, which suggests there would be better approaches. She said the response rate was great but mostly produced just a lot of time spent on the phone with very little conversion to a completed deal and very low ROI on this approach.



Does anyone have any experience doing this kind of direct response marketing for multi-family? Was it worth it - honest replies only please



Thanks

 

[Thomas Beyer]

A more effective approach is networking via a landlord association, via property managers or via realtors that specialize in MF.

 

[ChrisDavies]

Yellow letters essentially look for stupid/desperate people, and very few of those have multi-family buildings. I have a system for Edmonton which I'd be willing to share if you drop me an email.



That said, Thomas is right on the money. It's very slowly meeting as many owners as you can, keeping track of what you think they own and when they're ready to sell.