Co-wholesaling

Bird Dogs, Wholesaling
1

It will be March until I can afford to purchase names off ListSource and send out another mass mailer.

Until then, I’m trying to make money by co-wholesaling.

My strategy is: I have build a buyers list of about 500 people from the local REI associations, Craigslist, bandit signs, etc.

I know I have been told that I don’t need a huge buyers list, but I have also been told that it’s a good idea. The only way to co-wholesale is to have a better buyers list than the original wholesaler, so it makes sense.

My strategy is to get on the email lists of all the local wholesalers (which totals about 250) and to try to re-market their inventory to my list.

I could also try to re-market from Craigslist ads.

Has anyone had success doing this? What is my best bet.

As soon as I make $1, I will obsessively repeat that task for the remaining 55 years of my life. (just quit smoking and drinking, went mostly vegan once I found out I had high cholesterol, so I think that’s a fair bet). All I need to do is make that first dollar and my life will change drastically.

I’m even trying to co-wholesale with someone off this site who recently posted in Pittsburgh.

I have lists of cash buyers that I purchased from all over the country, but the list is somewhat repetitive city-to-city with a lot of them being “nationwide” buyers.

2

Apparently, co-wholesaling without a license is illegal in Florida and people get reported.

So I’ll just wait until my next mailing campaign in March.

3

If you believe that, I got a bridge I’ll sell ya.

4

Still sticking a stick in your own spokes I see…

Closing four deals in February. Seller from one just sent me his dad that wants out of the rental business. This could be you.

5

I think it will be once I get my mailing campaign going again, but that’s not free.

6

Well a third degree felony is no joke and that’s what everyone keeps telling me it is. Citing statutes and everything.

Including those “yahoos” who have their own office and full-time staff.

7

Focus on what you can do, instead of what you can’t. I mean what’s the point of outlining all the reasons that you can’t go forward?

You’ve already told us that you are either bored with, or not interested in doing, any of the basic things suggested to you.

Never mind you said you had ‘x’ thousands of dollars to work with for marketing, and then all of the sudden you have nothing. I’m quite certain you did not spend all your money on marketing, because you would have a deal by now.

I can spend literally $1800 dollars in postcards and scare up a deal worth $10k in profits within six weeks, if not six days. I know because I do.

I’m not talking about using any cornball ‘gimmicks’ to get motivated sellers to call me either. I’m just sending one message to one highly-sifted niche of prospects that I know will resonate with that one message.

I’ve already explained how you can copy me. Of course, it takes a little thinking on your part, because I can’t spoon-feed you exactly what I do. Never mind I’m not interested in educating my competition. (Lots of people in my farm follow the reiclub. Who knew?)

Meantime, why can’t you just drive around and find the houses that look like crap, and leave a note on the door? If nothing else, you get a ball rolling; spread the word about what you want to buy; get more leads from sellers that call you on your note, who know someone who is motivated to sell, and gives you a name and address, or phone number.

This is such a basic, cheap, no-brainer way to start that requires only gas and a willingness to win.

I’m not guaranteeing fast results, but I am guaranteeing ‘results’ if you keep at it.

One last thing I’ll share that I was reminded of from Barney Zick, who’s the same guy that pretty much wrote the option courses for Bob Allen, Ron Le Grand, and a few other well-known real estate trainers, and that is that you need to maintain 7 sources for leads.

I just gave you one. I also offer about 149 more in my signature link, if you haven’t read it yet. Lots and lots of options there. Find seven ‘free’ ones, and start milking them. Eventually, you’ll be able to move up to more expensive options that require much less of your time to maintain and implement. Just saying.

No more examples of what doesn’t work for you. Nobody cares.

8

Something came up and I don’t have marketing money until March.

I know five years in prison isn’t the answer.

I’m just gonna stick with ListSource for now. It’s the only way I know. Making my own lists from the property appraiser was frowned upon.

9

What happened to the $800 worth of signs you bought?

10

I never bought $800 worth of signs nor do I remember saying I was going to.

I’m committing to direct mail come March.

11

You said you bought 100 signs you had specially made and they were $8 each…

12

I said I was considering it. If I ever use bandit signs (which I probably should), I’ll most likely hand write them on white.

13

I used to hand write them, worked pretty well.

14

Wow. How did I miss that (your book) years ago? Where have I been?

15

Without starting a new thread…

What percentage of calls should I expect to turn into deals?

I am confident that my phone will be ringing once I get mailers out.

1/10? 1/100?

16

It depends on how well-sifted your mailing list is; how well you’ve targeted your message to that list; and your negotiation skills. So, the answer is, “It depends.”

In other words, you keep sending until you get a conversion, and then you determine what needs to be done to scale up, based on that one success. This isn’t rocket surgery.

Put it this way, however long, and however much, it takes for you to achieve one conversion is considered your baseline.

Once you have a conversion, you have valuable data to work with.

The problem I see so often is that newbies refuse to do what it takes; and give up before they have one conversion. And so they never know what’s required for a success, and they’re always asking others to give them what they unwilling to learn for themselves.

I understand the desire to know what to expect, but this doesn’t take into account the ‘stupid dumb butt’ factor that negatively affects some investor’s results.

For example, some are in a hurry for results, so they don’t sift their lists; don’t learn how to make offers; don’t know how to negotiate; and give up before they discover what their conversion rate requires; all while failing to take into account their dumb-buttness.

Worse, they rely on only one source of lead generation.

Bottom line is that you have to determine what is required to capture one conversion, and work from there. Nobody can tell you in advance what your conversion rate will be. You have to just find out what it is, for you.

You do ‘something’ until you achieve one conversion. One. After that, you have a baseline established, and you can make informed decisions on how to go from there.

FWIW

17

What do you mean by “sift?” I’m just buying from ListSource. If I use too many parameters, it becomes prohibitively expensive.

I should start hiring bird dogs once I can afford to mail out letters and make some bandit signs, business cards. And I did drive by some boarded up houses today. I wish I was prepared with notes.

My negotiation skills =

Them: I received a letter in the mail
Me: what’s the address? I’ll get back to you in an hour.

,…

Me: I can offer $68,000
Them: I want FMV
Me: Damn

18

We’ve had this conversation before.

You don’t have to buy the entire sifted list. You can buy what you can afford at the time, and then mail to it, and then buy more of the list as money permits.

Isn’t that correct, or what am I missing?

It’s cheaper in the long run to mail to a highly-sifted list, than to shot-gun the list, and attract all sorts of trash calls. Isn’t it?