Want to know what I think is one of the best lists to mail to?
Well, first let me just say that there is no magic list or secret postcard… if only, right?!
But the list I’m talking about happens to be one that most investors are NOT mailing to. It’s a great mailing list that’s largely overlooked and ignored…
What is it?
The high-equity list.
This list is mostly made up of longtime homeowners and landlords who have a lot of equity.
And heck, don’t just target single-family high-equity homes… also mail to condos and townhouses.
So, where to get this underused list?
I like to use these two:
Find Motivated Sellers Now
I target zip codes that have homes in the median price range or below… good blue-collar, middle-class neighborhoods, where the rents are close to what the mortgage payments are.
Now, this may vary slightly depending on the county you’re in… but when you’re on ListSource, enter your target zip codes, and then filter for:
“last market sale date” of at least 10 years ago (choose a start and end date of 10 years)
“percent equity” should be “unknown” and “70%-100%”
Also enter your number of bed/baths, square footage and single-family, condo, etc.
“demographics” should be 55+ years
I’m telling you, when you find these sellers, I’ve found that they’re often really motivated. 🙂
And I’ve gotten pretty good results just from mailing blind offers…
Obviously, once you check out the property, if it turns out it needs some work, then just renegotiate the offer down some.
I’ve been doing these deals with seller financing, no interest… usually at the Zillow value. So, if Zillow says the sell value is $100,000, that’s what we offer. With rent, though, it’s half… if Zillow says it can rent for $1,000, we offer $500. And it’s principal-only payments until paid.
So, we get the deal, pay off the property in 10–15 years, then turn around and sell it with owner financing with a wraparound mortgage.
Look, folks… this is a sweet strategy and there’s not much competition for this list.
I highly encourage you to give it a go. Today.