Posted by randy on February 17, 2002 at 04:23:32:
NT
This note stuff???/ - Posted by LonnieWa
Posted by LonnieWa on February 16, 2002 at 12:48:08:
How do you get the address of note holders so that you can send direct mail to them without going to the courthouse or recorder’s office. I have been thinking about getting a course on this but I like direct mail.
Lonnie B. Turner
This note stuff???/ - Posted by Jon Richards
Posted by Jon Richards on February 17, 2002 at 19:27:09:
Lonnie
Mike Morrongiello points out the saturation of the market with direct mail. Great point.
We have found a better idea, if you want to use direct mail to find note sellers is to send letters to professionial referral sources: accountants, bail bondsmen, attorneys, real estate agents, escrow & title officers, insurance agents, etc. etc.
Build a list of people who know about other people’s finances. Then pay the professional a finder’s fee when he sends you a name and you buy or broker the note.
You will find it is more cost effective to send 100 letters to accountants, than 1000 letters to note holders. Second, you must send letters every month (week?) for maybe a year. I like the idea of one personal letter and then a postcard every month.
The secret of successful note finding is repetition, repetition, repetition…
Best of luck
Jon Richards
NoteWorthy Newsletter
800 487 1864
This Marketing Stuff for Notes… - Posted by Michael Morrongiello
Posted by Michael Morrongiello on February 16, 2002 at 22:20:35:
There are companies that SELL these lists of note holders for anywhere from .05 to .10 cents per record.
These lists are comprised from courthouse research that they or their staff have done in various county courthouses around the country.
Since the data is widely sold and dispersed, the Note holders often are bombarded with multiple mail pieces throughout the year with all kinds of grandiose offers to buy their Note. In some respects Note Holders are receiving 50 or more mail pieces from various Funders, Note brokers, etc. all trying to get them to respond so that they can see if they wish to sell their Note.
As a consequence of this, any brokerig of these Notes is done at very low profit margins.
This is a fine example of “market saturation” in marketing.
There are other ways to target Note holders or potential Note holders so that your competition isn’t as keene.
To your success,
Michael Morrongiello
Re: This Marketing Stuff for Notes… - Posted by George
Posted by George on February 22, 2002 at 23:37:32:
A good way around the direct mail saturation is to call instead sending letters. I have found out that 95% of the people is afraid of the phone, therefore you are competing with only 5% of the note buyers.
Phone calls are much more effective than a letter.