If you were drop X,000 Yellow Letters & Postcards every month for three months straight, where would you? This would be for wholesaling.
Any towns that are in a transition period? You know lots of re-habbing going on, but not saturated.
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I've seen good deals get snatched up within 2-3 DOM. Competition is fierce and when an investor realizes there's a good deal on the market, they jump on it.
Thank you both!
Ibrahim, when you say HOT, would/could that relate to DOM and Absorption Rate?
I think the first question you have to ask yourself Keith is how far are you willing to travel to accommodate your rehabbers? Let's say, due to work and family, you didn't want to travel outside of a 20-mile radius. Then the next question would be, what towns/cities within your radius are in transition or are booming? That's probably where you should aim your direct mail program. I would think experienced local realtors and investors would know. They can tell you what areas have been picking up over the months. For instance as a realtor and Investor I can tell you that Newark is hot. If you would have asked me 4 months ago I probably would have stated that 'most' of Newark is hot and that there wasn't much going on in the South ward. But with low REO inventory and increased competition, primarily from NYC investors who are attracted to Newark's strong rental market and low taxes, that's no longer the case. It seems that every ward in Newark is strong. Some stronger than others but generally strong.
Of course you will want to further your research to confirm the opinions you receive. Driving through the areas and checking with the # of permits and CO's being issued by the city are just a couple of ways to get a feel for what's happening in a particular area.
Try Trulia.com and check with experienced local realtors about towns with a lot of rehabbing activity. I can tell you that most towns with direct rail access into NYC or at least into Newark Penn Station are a good bet.
Are you asking for advise? Buy some lists. I'd think any area you know well would be a good area.