First Deal..4 plex BRRRR or Wholesaling?

[John Bradley]

So like the title implies- I've been listening to Bigger Pockets for the last year and a half straight since an investor i met that has a $2 million portfolio recommended them to me. Since that time I've gotten my real estate license, quit my retail sales management job, interviewed a broker then decided to originate mortgages through a friends recommendation, made the most money I've ever made (which is not a lot of money at all to the investors that I've met/heard/read), and saved enough money to start a mailing campaign. I've obtained a list from list source that i desire to solicit to, created a post card and am currently proofing the rough draft.

I am not an expert. In fact i am pretty ignorant to how this works since I have not bought a house before. Don't get me wrong, i know about real estate and the process of a buy and sell agreement on the retail side of the industry while working with realtors and clients all day every day (literally) but i am now making the decision to make the move on this side of the industry that I've been wanting to do since listening to Lance Wakefield's episode #236 which lit a fire in me.

SO the game plan is to do BRRRR. And in order to make sure that my time is well spent on properties with a higher chance to provide cash flow or wholesale fairly easily the plan is to mail to 4 plexes in the areas that i personally would like to live so that i can buy the property that i can get under contract on an FHA loan with 3.5% down. Of course by buying it off the market through these mailers at under value costs (either 70% rule or the 2% rule) or just simply wholesaling the 4 plex that i can get under contract at a good deal to local investors. I have no buyers list to market to in case someone was going to ask since in my eyes like Josh and Brandon recommend, i want to find a good deal first. I know my real estate agent buddies in the Phoenix area have connections to people that either have the money to invest or can find the money to invest so I would rather focus on the first step first and worry about the easy part later.

My goal is to have a $2.1 million portfolio within the next 10 years so that i can say that i was able to get a bigger portfolio than the investor that sparked my fire and of course to set a seemingly unrealistic (for now) goal that i know is achievable in this industry after listening to Devan McClish on episode #180.

HERE'S WHAT I NEED FROM YOU-

I need advice and feedback on my first draft of my postcard! I need to hear from people that know literally anything about this topic and their opinions on my game plan since i know nothing but am smart enough to realize that i know nothing. I would love to hear about peoples direct mailing campaigns since i will be consistent about mailing out to my list until i find success or after 6 months to readjust the marketing strategy.

-What was your average conversion of postcard to inquiry, inquiry to offer and offer to close? 

-How long did it take you to see results from your first mailer? Is 1 or 2% response rate too high to expect?

-Is a dollar per card for a quality product expensive or reasonable?

-What are your biggest areas of opportunity looking back when you got your first inquiry?

-What strategies did you take to test the success rates of different mailer layouts or styles if any and what did you find the most success with?

So far after reflecting on the first draft of the card all day and asking for feedback from a few people here's what I already have heard-

1. Is this card for property management?

2. The bullet point section is too passive and too soft of an attempt to close 

3. Mixed feelings about the 'if this is not pertinent to you now, it may be in the future' part

4. Try to grow facial hair so i look like less of a baby face (Brandon style)

Pleeeease critique my post, i need to learn more and BP is the best resource i have found so i am relying on you guys to do what you do best and provide feedback for us to all grow together!