How many leads do I need to get my first wholesale deal?

[David Hartoon]

Hey there, so after a couple months of researching I've decided to target absentee owners by direct mail campaigns to start my wholesale business. I was wondering how many leads I would need to get 1 deal within 2-3 months? I'm aware that consistency is the key and that I shouldn't expect much of anything until the 3rd mailing or so, but I'm strapped for cash at the moment so I can't mail to too many leads. The first deal will be a godsend and help my business grow tremendously so I'm willing to amp it up after that but for now I only have about 230 out of state absentee owner leads off of listsource. Would this be enough to generate at least 1 deal in 2-4 months of consistent mailings say once per month or do I need more?

[Dev Horn]

For most wholesalers, they buy 1(deal) in about 20 leads. Figure out what it take to get 20 high quality leads and you'll be on your way.

Also, yes OOS absentees are a good list, but I like local absentees as well! Both great targets!