Question About Lead Generation Program
I have a property out of state, and have locally heard about a lead referral program called TenantStream. The idea looks really sound, but I am relatively new to renting property and thought i'd find out if anyone had heard anything about this company, or if the idea itself was good/bad. The website for the company is:
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I'm just curious if anyone has used this service, or a service like it, and if they have had good luck with them.
Thanks!!!
Jon
Dallas here. I've heard about 'Tenant Stream' as well. I'm very interested in it but haven't spoken to a current user either. Certainly sounds like a great deal. They were on a national real estate radio show that I listen to.
I figure, any halfway decent advertising would bring in a good portion of tenant/buyers. There are just so darn many people that can't get financing.
For instance, we still haven't submitted our site to search engines yet (time investment). I pay to advertise on ONE search engine. That's it. No print www.ads.No mail-outs yet. No other paid ads. In a few months, we've had 1800 click-thru's that resulted in 800 sign-ups (as rent-to-own candidates). Of the 800 sign-ups, 100 or so have $3000+ as an option fee. The rest are still future rental clients, as far as I'm concerned. I email blast all clients each time we get a new property.
If Tenant Stream is marketing on a national basis, I would think that you would get lucky at least once. Wouldn't you think? We're going to sign up as soon as our next deal closes. Good luck to you!
Woodchuk - I bit last night, and have a good chunk of leads. I started calling my leads and will spend the rest of the weekend doing so. I'd like to let you know how successful I am, so you don't waste your money if i've just wasted mine, so how do I get in touch with you in the future? - DKB Tech (Jon)
I sure hope that you post your experiences with Tenant Stream on the board for all to see. I know I'm curious, and would be willing to bet many others are as well.
I hope it works out splendidly for you!
I'll give everyone else a heads up if any of these deals go through. I've hopefully got a few people looking at the house, so everyone wish me luck!!!
Jon
dkbtech,
Definitely keep us posted.
I am banging my head against the wall trying to think of some use for my ever growing list of potential tenant buyers. I am getting a lot of calls from folks interested in different types of houses in different parts of town, but very few that are actually looking for what I am selling right now.
JohnCl
Any update on your progress?
Woohoo! Success! I did find someone through tenantstream, they signed the lease yesterday! Now all I need to do is find another property to buy
With that in mind, I would definatly vouch for tenantstream. It was definatly a worthwhile investment. As the official guinea pig for the group, i'm still alive and have successfully rented my property!
Now for the shameless plug. I signed up for the tenantstream partner "referral" program, so if you do go to their website (I don't think I can post links, since i'm new, but its just the company name tenantstream.), use the referral code CD139. You have to enter a code to access the website, so you might as well enter mine.
Thanks and good luck to everyone! If anyone else knows of any good lead generating programs like this, let the group know!
I will certainly use your referral code. Thanks for the update on your progress/experiences.
Just to add to the info, I was on the phone w/ robert ryan (founder/ceo) earlier. He clarified a few issues for me.
1) You WILL have competing investors in your territory. However, the leads that each receive are EXCLUSIVE for 8 days. Then, after the 8th day, the lead is opened up for all. Reasoning...you have that length of time to work the lead. But if you haven't make a 'good fit' by then, it becomes a benefit to all. I like that idea. You are not really competing. Because, if it's not a good one for you, and vice versa, it may be to someone else. Of course, you will also see their unmatched leads.
2) The more investors we have in our area (to a certain maximum point), the more 'Tenant Stream' will put into advertising/marketing locally. I currently have 3 other investors that I partner w/ things. The biggest benefit from this synergy has been in advertising.
We each used to have our own add in the Dallas paper @ $70 per 10 days. That's $210 per month, right? Well DallasNews just got the big idea to raise the rates. As of Jan 1st, it became $550+ per month. They more than doubled the rates. Idiots! What independent/start up investor can afford that?
Answer?? Not many!! The number of ads in that section has dropped from an average of 20 per day to 6-8 per day. Luckily, one is mine. My buddies and I each kicked in $460. That covered 3 months worth of ads and an answering service. The answering service evenly rotates the incoming calls between us.
The bottom line was that we now pay roughly $150/month EACH, where we used to pay $210/month EACH. Plus, we have about 1/3 of the competition, which will compensate for the fact that we are splitting the leads.
A bit of rambling, but I wanted to qualify Robert Ryan's point about synergy numbers. I'll be signing up soon and hope to add to the existing results/experiences.
Good luck all!
_________________
Success and $$$ to us all!!
Woodchuk[ Edited by woodchuk on Date 02/26/2004 ]
I am also very interested in more communication on tenantstream.
Also, I am new in REI. How do you dtermine which property is best to keep in your portfolio as L/O or to just flip it?
Thanks in advance.
I have had Tenant Stream now for a couple of months and unfortunately have gained nothing. It has only been an additional expense for me. I like the concept and would Luuuuuuv itif itt did work.... but for now it just looks like I'm stuck blowing alot of cash on overpriced newspaper ads hoping someone comes along.
In fact, I'm contemplating turning off the service altogether. But now since I've already been billed another month because it's automatic billing, I've decided to check it out for the rest of the term. I too, would love to use their referral program as it has potential to even pay for a newsaper ad per month... if you sign up enough people. But I am so far not convinced this service works, so I am holding back on that.
I have noticed quite a few people theorizing and thinking about joining, but not too much feedback from experiences with the service. If anyone has any other input, please post.
Thanks.
HanSolo
This is my 2nd month on tenant stream. When I first signed up I was send quite a few leads but since that initially list I have only received 2 more leads .. anyone else have this problem? Also the customer service suck...I cannot get ahold of anyone!