Hello BP What Steps Should I Take?

3 Replies

Ok here is what Im currently working with. Currently I have about $5.7k and have $300 a week that I can spend on anything real estate related or $1200/mo. I have 2-3 free days per week that I am free before 12:30 AM. If YOU were in MY position what would be the first steps you would take to reach where you currently are now?

Currently I am thinking of delving into direct mail but as of now thats just an idea.

A few questions I have are 

1. Do you think I have enough money and enough coming in to cover my direct mail expenses?

2. What kind of response rate does direct mail generally yield(I would love to try yellowletters.com)?

3. What is an average conversion rate?

4. Is absinthe my best choice to find wholesale deals or could I look into other avenues and if so which ones and are they better than absinthe when it comes to finding wholesale deals or does it depend and if it does what does it depend on?

5. Is the ole yellow letter with red ink thing really the best way to go about it or could I try blue ink?

Thank you all for your time.

Hey David,

It's the usual. About 1,000 mailers will get you about a 1-3% response. What are you looking for?

Then you can expect of that 3% response (30 owners) that you will have about 10 owners meet with your criteria. From which you'll make offers on 1-3 properties, to close 1.

Yep, you have enough money if it is spare money. Keep thinking clear and logical about RE investing.

Best to you!

TM

Originally posted by @Tom Mendez :

Hey David,

It's the usual. About 1,000 mailers will get you about a 1-3% response. What are you looking for?

Then you can expect of that 3% response (30 owners) that you will have about 10 owners meet with your criteria. From which you'll make offers on 1-3 properties, to close 1.

Yep, you have enough money if it is spare money. Keep thinking clear and logical about RE investing.

Best to you!

TM

 And is that typically on the first mailing? Also when I mail again to the same list does the numbers go up or down? Also yes it is money that I can use on real estate.

Can anyone else help me out?

much appreciated

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