Mailing List-30% Equity

[Andy More]

I'm getting ready to do my second mailer in attempt to find a DEAL on a rental.

I've got a list of property from the assessor that meets certain criteria. The list is currently 2,000 long and I plan on whittling that down to properties who I estimate to have atleast 30%+ equity. My next step is to head to the recorders office and get mortgage information on each of these properties.

My question is...

What percentage of rental property do you think has atleast 30% equity based on current market value. I know the answer to this question will vary based on alot of differnt factors(location in US etc....) but whats your best guess? I'm just curious how long my final mailing list might be. I'll be the first to guess and say that 10-20% of multiunits between 50-500k have atleast 30% equity.

Whats your guess???