Lead Generation - Is this list a flop?

[Ryan Gettelfinger]

As every experience real estate investor knows getting quality leads is the life line of your Real Estate Business. It doesn't matter if your Wholesaling, Flipping, Holding or etc.. YOU NEED QUALITY LEADS. They provide the opportunity to execute on deals and pursue whatever exit route best suits your business. Without them you aren't doing deals or worse you are doing bad ones.

Now I am no expert on acquiring leads but I am committed to learning. So I'm calling for HELPPPPPP from experienced marketers and lead generation experts by opening up about a recent direct mailing campaign of mine with hopes you can tell me if it's time to pivot, quit, or persist with this list/campaign.

List: Probate & Pre-Probate Leads provided by Foreclosuredaily.com on a weekly basis. (Pre-probate: Recorded deaths with a record of ownership to property. Not guaranteed probate but highly likely.)

Mail Piece: Little Yellow letters, handwritten look, Normal Verbiage: I'm Ryan & I am interested in your property, we buy with cash, close quick etc... etc... etc....

Frequency:  New Letters sent every week. Repeat Mailings go out one month from the first mailing and continue to be sent a new letter for 3 full months. Before pausing for the 4th month then sending last mail piece on the 5th.

Amount: We send to roughly 40-50 new leads each week.

We are now in the third month of this campaign and a lot of the first initial leads are receiving their 3rd mailing piece and we are having no response to the campaign. What do you think? Is it time to quit this campaign and find a new one or continue and keep sending?