I'm new to direct mail but I do think that a >10% response even with a yellow letter to a good list is better than you should expect.For the postcards that seems just a hair low.I think for that many pieces I would have expected 10+/-3 calls so not that far off.

Look for people who have specific catalysts and are pulling their hair out, preferably in big clumps.Don't show up with hair spray and brushes.

I've been printing about 1000 letters a month on my Canon, and while the speed of printing isn't too bad, the ink cost is getting pretty high, I want to switch to a laser-jet printer.

Lined Template @Hattie Dizmond  If you are using a laser printer you may want to mail a few to yourself to notice that the Post Office's equipment removes the laser ink.

It's laser-like.

If we really want to get technical about it would you buy it if they were selling a $100,000 house for $5.That may be splitting hairs but is it any different than when they want $100,000 and it's only worth $100,000. 

I think California foreclosure is on a 21day notice, so you may wait to do pre-foreclosures until you build a pretty decent buyers list, otherwise you may be pulling your hair out trying to find buyers at the last possible moment as they always call the the second before it's too late. 

If you have the time and you are not starting with a huge amount, I would encourage doing them yourself assuming you have a laser printer. 

Worst case the "investors" take a hair cut when they sell.

As I was getting my hair cut (and dyed) yesterday, two hairdressers asked me for advice regarding buying rentals and personal homes.