Snickfish or Aaron,
You were a ton of help. Thank you very much!!!
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Hey guys, we receive at least 4 mailing per month now maybe 8 with all the new efforts to locate possible parks for sale. The average park owner will think back to 2009 NOBODY was even buying parks but some were being foreclosed on . The park business has cycles and presently that why as sellers we can a 6 cap or even less. Keep on sending the stuff maybe 5 cap will be the new number and we will sell since we know even the MHP business has DOWNTURNS!!!
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Carl you sound either angry, upset or very defensive towards those who want to do direct mailing. If you own a MHP you should be happy if you think the trend is going toward a 5 percent cap. And since you’re getting 100’s of letters each year or per month from various investors wanting to buy your park shouldn’t you be happy about that. What are you doing with the tons of letters you are getting from buyers that are interested in paying top dollars for your park?
BTW what method did you use to find the MHP that you now presently own?
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So I shouldn’t get into the park business because you receive too many mailers? Sounds like good advice.
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Actually a 2009 bank foreclosure auction sale–with a +12 cap rate–30 years watching the park business and watching the new trends such as the oversupply of buyers to sellers. Remember the times it took over a year to sell a great investment or find ones for sale. The market is very fluid with some parks that WERE ONCE full with NO rentals well taken care off now looking ??? with vacant homes, untrimmed tress, broken up streets near NEW exciting apartments. Just trying to be helpful with our experience–what you do is YOUR business–just my observations!!
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I think it’s healthy to understand this business model has ups and downs like any other, and while market conditions vary - it can be ugly. I always refer back to this one when I see too much euphoria.
While I am not saying this means anyone should not get into the park business, but I do think it’s worth caution how much you leverage yourself if getting started.
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Snickfish or Aaron, You were a ton of help. Thank you very much!!!
You had it right haha, Snickfish is the company, Aaron is my name. Thank you Mitch, you are much appreciated.
What business doesn’t have downturns? This wasn’t a discussion on leverage, this thread is on direct mailings to find off market properties.
Also, I can’t understand how the influx of “newbies” buying off market properties through mailings is killing cap rates, yet using a broker or buying a park online isn’t? How does that work?
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Now that I have a list of property owners can anyone recommend the most cost effective way to send out the mailers. I guess I can go to one of many direct mailing sites and send them the list of names I want to send out but that seems a bit expensive.
The other option is to go to knko’s and print out labels .
Any suggestions?
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My suggestion for a limited budget:
- Buy some Avery Printer Labels from Walmart, Office Depot, any of those.
- Go to their website, and pick out a template you like with the model # on that avery label box you buy.
- https://www.avery.com/ >>> Templates >>> Find a Template >>> Enter Product Name or #
- Use the template in MS Word >> copy and paste addresses/names
Cheap and easy – moderate time consumption depending on the amount of mailers you are sending out.
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Unless you have some capital to use on some branding and a company that can print and send out on your behalf.
Mailing Companies:
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My suggestion, save your money and don’t send mailers because you will be hustling just like every other Joe to land the same deals. “Call me if you change your mind!” I have a file full of these. Come with a price first, then send the mail i.e. individualize and do your own digging to find the gold nuggets.
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That’s part of what makes it fun! No fun without some hustle.
But I will side with Brandon on this… Take it from the guy who get’s mailers all the time.
I have found the best way to sell/market any product/service, is to be personal. That doesn’t mean find out what the guy eats every day… It mean’s find a way to show yourself if you can’t in person.
Some people like being sold to… other’s prefer indirect selling. Provide value before you provide what you want.
What works for me doesn’t work for everyone either. Marketing however is universal, and there are many ways to do it.
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I have read and listened to many investors who have purchased properties via direct mail. I think the average results will be 1 percent replies so the 99% who throw the mailers out probably don’t believe this is the way to go. That makes sense. Since the number is so tiny I would be surprised if the 1% who reply to direct mail are anywhere near this this forum.
I do appreciate Brandon’t recommendation of coming in with a price. I believe that is very good advice. Brandon how would you go about that? Wouldn’t you need to know some more information about how the park is doing first?
Once again Aaron thank you very much for the suggestions. You are a great resource. One of the best.
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You are banking a lot on 1 in 100 and not 1 in 1000. How much does 100 mailers cost? I guesstimate $1-2 each?
You can do amazing things with the internet these days. You have to sleuth it out, but gov’t websites often have public GIS, Google has aerial photog, you can “street view” it, you can do test ads. Pick the park first, then find the owner not the other way around. At least, that’s my view of it for the time being.
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This is a great thread! For me, I’ve got the time and I feel comfortable sending DM. Its easy to do and takes time but everyone’s gotta start somewhere.
I use RealtyJuggler to track my mailing campaigns. Its 99 bucks for the year and offers simple services for what I need. I highly recommend it if you’re on a budget and want to avoid the learning curve of some of the fancier CRM programs out there. On the other hand, its cheap so it doesn’t do everything someone might want to do. Keep in mind, I’m not sending out tons of mailers on a weekly or monthly basis. I’m keeping it quite local to myself and markets I already know.
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Dave spoke about his most successful DM campaigns were to parks where he sent a specific offer. I’m not sure I feel comfortable sending an offer like that throguh the mail yet…
But I think there is definitely an advantage to finding the park and then the owner.
And with the tools listed above (Snovio), it might be fairly easy to find their online contact info.
Somebody could probably write a book on just finding off market real estate deals. This is an art as much as a science.
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What was the company you originally referred to? I’m looking to get a service like this. Thanks.
Which part of the post are you speaking about?
Update:
If you’re looking for an MHP List – Snickfish is providing a national and state level list for FREE.
Click “Useful Information” and it will take you to the bottom where you will see the lists.
Not sure how much help that will be, but the page is full of other resources as well.
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@Snickfish Are you still providing lists? We are closing on our first park soon in Tennessee and have one under contract in Ohio but are looking for more. Trying to stay in those states or close to there for now
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