Hello Bp nation,
After being on the site for a year and educating myself I decide to jump into wholesaling full time. I Just sent out my first batch of small yellow text postcards using yellowletters.com to about 1200 individuals with with equity ranging from 30-100 percent in there homes. My mailers were received yesterday and I've only received two phone calls from those mailers. Any advice would be helpful to getting a better response rate in my mailers.
Give it time. Sometimes it takes a couple of days for them to call you. For that matter I've gotten calls from mailers 2 months after the fact. You also need to consider the area itself. It's possible you happened to choose an area that's been over-farmed by other investors and people are just tired of seeing the little yellow cards and letters. Just be persistent and patient.
Every area in Queens, Ny is pretty over saturated with investors and mailers. I chose this area because I live in the area and I don't get as much mailers as other areas in Queens.
@Angelo Lelievre postcards typically get a smaller response rate than letters. A good response rate is between 1-3%, so a good response would be 12-36 calls. Give it a week. I sometimes get calls 2-3 weeks after sending the mail out before I get a response. You also could have hit a list of people that are not motivated to sell yet. Stick with it for 6 months before you do anything. Change your mail pieces. Have different colors, text, fonts, messages, and pieces (letters, zip letters, postcards).
But 1,200 mailers to a high equity list might not targeted enough. Yes, equity is great. But maybe you should cross check those names and addresses with code violations, probate, inheritance, NOD, eviction, absentee owners. That way you define your list to people you know have a higher motivation already.
The high equity list with no filter is great if you have the money and the means to mail to all of them consistantly
1-3% would be a grand slam! the average for postcards is about .5%
However with that being said, "response rate" really doesn't mean anything. Its the type of lead that matters.
I am also mailing to probate leads where i'm having the most success. But as of late my response rate has been horrific with probates. My equity list consist of
30-100 percent equity
Absentee owner 62
Owner Occupied 1200
Last market sales Date : 01/01/1900 to 12/01/2010
Bedroom count are recorded in my county.
Day 3 only received 4 calls. 1 possible seller looking to possible list with an agent.
How much did this cost you?
Perhaps you could start smaller to test different areas.
& then ramp it up.
Have you also considered driving for dollars?