Using Direct Mail To Contact Default Mortgages

Using Direct Mail To Contact Default Mortgages
05-19-08

Investing in foreclosed homes is a very profitable business. Experienced foreclosure investors understand that contacting default mortgages before they turn into foreclosures is much more profitable than purchasing properties at auction. Actually finding and contacting default mortgages has historically been a difficult process but things have changed in recent years. Thanks to the internet, it is much easier to find the names of homeowners in pre-foreclosure than it has ever been.

Way back before this newfangled technology called the internet came around, an investor interested in finding default mortgages had to venture to the county court house. Once there you then had to sort through the lists of homes on microfiche and hopefully find a few of those pre-foreclosure deals. If you're like me and don't like spending hours in a courthouse looking at microfiche, you can try buying into a mortgage list that actually sends you default mortgage information as it is made available.

You can find mortgage lists online by performing a search for foreclosure forums. Once you have found a forum that interests you, make a post on that forum asking for information about mortgage lists. A forum member will inevitably be able to point you in the direction of a reasonably priced and reliable mortgage list. If you perform a search for a list on the search engines you will bring back results for about 100 different bogus lists. The best way to find a good mortgage list is to ask other foreclosure investors.

After you have your list of default mortgages you will then want to contact them using direct mail. Direct mail involves contacting your prospect with a specially written form letter. A good form letter needs to be written by a copywriting professional. If you don't have a great deal of cash on hand, you might consider looking pre-formatted sales letters many of which are available online. Your form letters needs to be very clear and concise and explain the reason why you are contacting the homeowner.

Often times a homeowner may not be interested in your offer at first. Including a business card along with your letter is a very good idea if you can afford it. Don't be discouraged if your mail outs have very low response rates. Studies have shown that a homeowner has to be contact seven times before actually responding to your sales message. In other words, it pays to follow up with your leads.

Mark E. Moebius
Miljonair Homes
Custom home builder St. Louis
3451 St. Albans Rd.
St. Albans, MO 63073
636.300.9000