Where are you getting your leads?

[Talha Shahid]

We are in 2 markets right now. Our primary market is in New Jersey. The leads have become scarce now due to too many inexperienced people coming into the market. We need to have a consistent supply of purchases because of private funding we are sitting on. 

How are you guys getting your leads now? What is working for you guys and what isn't? Wondering if we need to start doing some other things that we currently are not doing right now. 

We are doing Bandit signs and EDDM postcards. Getting a lot of calls on bandit signs but its mostly other Investors or wholesalers calling us. We are not getting as many direct sellers calling us as we used to. EDDM postcards we will not be doing anymore as we are not getting good responses from there. 

[Jason Timmerman]

@Talha Shahid,

Direct mail is definitely the best option in NJ right now.  Essex, Union, and Somerset Counties all show good response rates from basic postcard mailings.  We see about a 4% callback on basic postcard mailings there.  Middlesex is very streaky.  We have stepped up and done costlier and more inventive mailings and still haven't been able to increase our callback percentage to the levels we were hoping for.  Monmouth County is the worst.  We get some calls but the sellers are entirely unreasonable about the prices.  They all want retail price for their houses.  Obviously that's not the business we're in.  The only areas of Monmouth worth mailing are Red Bank, Asbury Park and Atlantic highlands.  Other than that, Monmouth just isn't working. 

New Jersey is a tough market because taxes are so high and most sellers remember ten years ago when their homes were worth $150k more than they are now.