Direct Mail Campaign Budget

[Shaun Johnson]

I am considering a direct mail campaign to identify off-market real estate opportunities in Union County, NJ. I'd evaluate and purchase good properties within my budget ($200k), and attempt to wholesale good deals outside of my range. Given a 5% response rate on mailings, and about a 5% conversion rate to get a viable deal, how should I be thinking of a reasonable budget to allocate to direct mail? Are there any services you'd recommend?