- Teleseminar Thurs. on Note Brokering / Mailing Lists
Published: Tue, 01/14/14
A Service of The Paper Source, Inc.
In This Issue:
* Free Teleseminar Thursday on Note Brokering
* 13 Questions To Ask BEFORE You Rent A List of Note Holders
Hi ,
Mark your calendar for this Thurs. Jan. 16 for a free teleseminar
on note brokering with Eric Swanson, the Vice President of
Investors Financial (www.thenotepeople.com), one of the premier
funding sources available for today's successful mortgage note
brokers. It is a direct funding source that owns and maintains an
in-house portfolio, purchasing with its own sources of funds.
I've known Eric for many years. He's one of the most experienced
note investors in the world. You and I will both learn a lot
from him.
I'll be asking Eric questions like:
Is this a good time to broker and/or invest in notes? Why or
why not?
What makes a good real estate note?
What makes a good note broker?
What advice do you have for note brokers to be more
successful?
and more. You're invited to ask questions as well -- just email
them to me either before or during the call:
wjm@PaperSourceOnline.com
The teleseminar starts this Thursday at:
2 p.m. Pacific Time
3 p.m. Mountain
4 p.m. Central
5 p.m. Eastern
When it starts in your time zone, call (559) 726-1300 and when
prompted enter the access code: 794728# (That's the number
794728 followed by the # key)
Join in for what will be a great teleseminar!
Cheers,
Bill
W. J. Mencarow
The Paper Source, Inc.
www.PaperSourceOnline.com
P.S. Investor's Financial is generously sponsoring an elegant
white tablecloth lunch on Friday, April 25 at the Las Vegas
Paper Source Note Symposium.
The price for the Symposium goes up next Monday, Jan. 20, at
midnight -- so be sure to get in on the super early-bird savings!
Go to: http://tinyurl.com/2014notesymposium
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13 Questions To Ask BEFORE You Rent A Mailing List Of Note Holders
by W. J. Mencarow, President of The Paper Source, Inc.
www.PaperSourceOnline.com
"I would like to know where I can get a mailing list of
owner-held notes."
I am asked this question frequently. Mailing solicitations to note
holders offering to buy their notes is very labor-intensive and
expensive. If you don't know much about direct mail, your chances
of success are slim-to-none.
If you want to use direct mail learn everything you can about it.
If you think you can just rent a list and send out something
without having ever studied direct mail, you are wasting your
time and money. I tell most people to either become an expert
or hire a professional to design your mailer. I stopped
doing direct mail for notes years ago, even though I know something
about it, and my business partner Alison was the list manager for
the largest newsletter company in the world.
Here are some questions to ask a mailing list vendor before you
spend your money:
1. What are the sources of your leads -- how do you know these
people actually own notes?
2. Is the price for a one-time use, or are you selling the list?
If they sell it, beware. Lots of others probably already own it and
are mailing it.
3. Are the leads sorted by type of note owned? You don't want a
list of owners of unsecured paper.
4. Will I get information about the notes each lead owns (such as
type of property, location, balance due, terms, etc.)?
5. How many times has this list been rented in the past 6 months?
Every time it has been rented or sold you can assume the note
holders have received a solicitation from someone to buy their
notes.
6. Is there a mailing window? In other words, does the vendor agree
not to sell or rent the list to anyone else for a period of time
after your purchase? This gives you an opportunity to use the list
exclusively for awhile.
7. Can you provide customized lists, such as individual states,
cities, type of note, size of note, etc.?
8. Do you provide phone numbers and e-mail addresses of the note
holders? Personal follow-up is what sells, not the first contact.
The prospect must see your message repeatedly -- most sales aren't
made until the prospect's 7th exposure to your marketing!
9. What deliverability percentage do you guarantee? Professional
list vendors usually guarantee that 90 percent or more of their
addresses are accurate.
10. Do you clean the list each time it is mailed? If they say yes,
ask them how. The right answer is, "our customers send us the
nixies" (nixies are returned letters). If they don't get the nixies
somehow, they can't clean it.
11. Do you merge and purge? This is a test question. If they don't
know what it means, they don't know what they are doing. (It means
that when the list is cleaned, duplicate names are merged into one
and the rest are deleted.)
12. What is your refund policy? Suppose you buy the list and half
your letters are returned as undeliverable. Or you find out that
it's not a list of note holders at all, but just names from a phone
book. You have just thrown away hundreds, perhaps thousands of
dollars. Will you at least be able to recover your costs for the
list?
13. Can I purchase small numbers of names for roll-outs?
("Roll-out" means "test" in the mailing list business.) ALWAYS
TEST, TEST, TEST. NEVER SEND A MAILING WITHOUT TESTING THE LIST AND
VARIOUS MAILING PIECES.
W. J. Mencarow is the editor of THE PAPER SOURCE JOURNAL.
www.PaperSourceOnline.com
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