Share with you got 80 Calls on 250 Mailers!

[florida man]

greg

thanks. I loved ohio because my broker send out single sided black and white joker mailers for 16.4 cents bulk, and i got 20 calls off each 2000 mailer.

I usually took 12 apps....

However, i funded 1 to 3 of them. Its usually about sub 500 and /or LTV.

down here, i send the same 2000 mailer, get 3 calls, 2 apps and 2 funded loans.

The big diff for me is MEETING the client in person, which eliminates the competition right off the hop. If i can get into their house and sign them up -the sucker is funding. This is why i am limited to LOCAL only.

Im just hoping my rep grows and grows and i can start to spiral out to another county, then another, until the distance is just too far to drive.

I know it sounds limiting, but honesty, i did the math, and there is way more than enough homeowners to make me RICH beyond my wildest dreams in my own county alone. If i can somehow corner a market share of my county for the long term, i shouldnt fail.

cheers

[Erik]

So when do you put up the billboard with a huge picture of you on it, Tom? That's one way to brand yourself locally.

Seriously though, if you do end up doing that you'll have to take a picture and post it here for all of us to see. We'll even rate you if you want. HA!

[florida man]

erik

I am doing the expo at the mall feb 24 -25....does that count as high profile?

my main goal is to make davie mortgage group the next 'Ditech'

whereas my billboard can promise 3% fixed -no middle man fees -

then a whole page of small print disclaimers can flash in the background for
.087546 seconds.

[Erik]

LOL - nice. A mall kiosk is pretty high profile, definitely. You might want to look into personal security (i.e. bodyguard) soon, due to the local fame. I hear Midas has some fighters from his IFC thing that do security when they aren't training.

[florida man]

Erik

I already have security. My wife and Daughter are in tae kwan do . In fact, i bring them to the borrowers house in case the client is nervous about signing the papers.

My daughter usually gives them a 'chop' if they start to back out.

[Erik]

I see you are well ahead of the game, Tom. Carry on.

[arasner]

The Results are the truth I don't know what else to tell you! Check it out for yourself, This truly is the best Mailer I've ever seen, if you got a deed of trust in the mail and it had a cover letter that said please call this # regarding the enclosed document wouldn't you also???? Of course your wondering what is going on, Remember getting this in the mail and you NOT A MORTGAGE BROKER, OF course your going to call!!! The whole Point is to get Borrowers to Call you! And I'm sorry FloridaMan but spending $20,000 on Direct Mail that won't get you 80 Inquiries is a Pretty Bad Mailer, Think About it if you spend $20,000 on Mailers, Check the website out it will give you an Idea of How Many Calls you will get, I think for 5000 Mailers you will get 1000-1500 calls it says!! I Got over 100 off of 250 and I sent out my second wave of 250 and You are Right FloridaMan I didn't Get 100 Calls I got 77 Calls Pretty Darn Bad!! Again no one has to do this type of direct Mail Piece Stick with What Works, But if you need to generate Leads Quickly and Inexpensively I've never EVER SEEN ANYTHING LIKE THIS PERIOD! You still have to sell the loan over the Phone, I am a pretty good closer on the Phone and Like Greg Says it isn't too hard to pull Credit and Know if you can or Can't do something, It works for me and I'm sticking to it, You think My results are insane, you should see the guy that told me about this He is closing 10 Neg. Ams a Month $500,000 Loans, Think of the YSP he is getting on those, I am going to eventually try those, But I stick with my Niche Subprime it's Where The Money IS! So everyone Happy Holidays and I didn't try to create such a stir But If anyone Knows of some other Piece of Marketing that is this Inexpensive and works similar to this PLEASE POST IT HERE As I would want to KNOW!! And Carlos I don't know what you talking about my attitude, I guess having an Excited Attitude and Feeling JUBILATION FOR Something that Works AMAZINGLY AND SHARING IT WITH FELLOW People on Mortgage Brokerland Well That I guess Is Crazy I apologize, just Keep you attitude in check also please if you want to share about your leads that you sell by all means go ahead Anything that will Help US! Greg I only Gave the Idiot Remark to FloridaMan because he was talking about putting a Gun to Borrowers Heads to Get Loan Apps, I think What I said was not so much childish as the INSANE Remark FloridaMan made initially and To FloridaMan it is the Holidays, I apologize and Happy Holidays!

[florida man]

arasner

this isnt my 'niche' .

I also have a rule that i use with my clients. There has to be a substantial benefit to the borrower, which we weigh the closing costs, yield spread, prepay and other balony to the monthly savings and time to recoup those costs.

We must remember that the HOMEOWNER needs a good deal, not US as brokers. Cutting their interest rate from 9% to 7% isnt enough quite often.

I have had to turn down deals with sub prime clients because the 6k in closing costs + the 7k prepay was not worth the $150 bucks per month he was going to save. Even 300 per month, it takes YEARS to break even.

Unless the guy is literally GOING UNDER and he cant get a family loan or some other kind of help -refinancing someone using sub prime is NEVER in the interest of the homeower because of the closing costs, and their probable need to refinance 2 years from now, soaking a new chunk of their equity.

The 'band aid' loan works great in the 20% appreciation universe. However, those days are LONG GONE for the next 10 years.

Like greg says, if you can get these guys into FHA so they NEVER have to refi again, then its WORTH IT.

you may find it DIFFICULT to do so however, given the problems of the target client you are going after.

We cant just 'do a loan' to 'do a loan' . You must ask yourself, would you give up 6 , 8 ,10 k or more in equity to save $200 per month? Whatever the case may be, even if its worth it, do you now have to refi 2 years from now to get away from the now adjusting arm?

If you wouldnt do it -then you cant sell it to your client.

This is why i have decided to let subprime go......unless there i a substantial savings to the client.

I believe the 'gun to your head' remark is something you may understand one day. I fear you have no idea what i was really trying to say.

However, if you feel good with it, good luck and God Speed.

cheers

[midas]

i have a really good mail piece i have been using for the last 4 years with the same results most of the time. i will trade you a copy of mine for a copy of yours.

[florida man]

paul

my piece is local, and is riddled with images pounding that message.

But if you want it -i will scan and send it to you

cheers