April was a hard month for me. I’ve been marketing and marketing and marketing and have yet to get a deal. My “yes”s don’t have enough equity, and my equity’s say “no”. Here’s what I accomplished last month:
- Sent 68 probate letters
- Created a probate tutorial to outsource my research
- Hired a VA to research 7 months’ worth of probates for $15
- Sent 124 eviction postcards
- Ordered business cards
- Sent 5 vacant house letters
Not bad, but it’s disappointing not to have a deal. Here are the results of my efforts:
You can see that probates are my overall winners. They got me 7.3% this month, and 8.2% overall.
Evictions were horrific. I have a .008% response rate for April. I emailed Vena Jones-Cox (inner circle member benefit – yay!) and she gave me some advice on how to tweak it. I’ll keep working on it.
My vacant houses (Driving 4 $) was amazing. I sent 5 letters and got a call back. That’s a 20% response rate! And she was a yes (it’s a short sale in the workings)!
My total marketing (which began in March) looks like this:
Total pcs sent: 247
Total responses: 12
Average Response Rate: 4.8%
My statistics tell me that I need about 20 responses to get a deal, so I’m counting on that. With an average response rate of 4.8%, that means I need a total of 420 pieces of marketing mailed to get a deal. I’ve sent 247, so that leaves 173 more pieces to send.
My goal is still to get my first wholesale contract signed by June 1, 2010. That means I have 173 pieces to send in the next two weeks!
Here I go!