Case Study: Email Blast to 200 Investors — What Happened
A Memphis wholesaler tested two approaches to deal distribution: a targeted blast to 38 investors identified near the property, and a broad blast to 200 investors from their general buyer list. Same deal, same messaging, same deal page. The results reveal exactly why targeted outreach outperforms bulk blasting.
The deal
4/2 single-family in the Raleigh area. Contract price $52,000. Asking $62,000. ARV $110,000. Repairs $25,000. Rents at $950/month. Works for both flip ($18,000 profit) and rental (8.4% cap rate).
Blast A: Targeted (38 investors)
| Metric | Result |
|---|---|
| Emails sent | 38 |
| Open rate | 52.6% (20 opens) |
| Click rate (deal page) | 28.9% (11 clicks) |
| Responses | 5 (13.2%) |
| Walkthroughs | 3 |
| Offers | 2 |
Blast B: Broad (200 investors)
| Metric | Result |
|---|---|
| Emails sent | 200 |
| Open rate | 18.5% (37 opens) |
| Click rate (deal page) | 6.0% (12 clicks) |
| Responses | 3 (1.5%) |
| Walkthroughs | 1 |
| Offers | 1 |
Analysis
The targeted blast produced nearly 9x the response rate (13.2% vs 1.5%), almost 5x the click rate (28.9% vs 6.0%), and 3x the open rate (52.6% vs 18.5%). The targeted blast also produced more offers (2 vs 1) despite reaching 5x fewer people.
The winning offer came from the targeted list: $61,000, cash, 14-day close. A local flipper who had completed 3 deals within 1 mile in the past year. Assignment fee: $9,000.
The broad list's single offer was $56,000 — below the asking price — from an investor 15 miles away who had never bought in the Raleigh area. Not a serious buyer.
The takeaway
Targeted beats broad on every metric. The investors identified near your property know the area, understand the pricing, and are actively buying. They open your email because the address is in their neighborhood. They click because they can picture the property. They respond because the deal is relevant to their business.