Looking for more info

Bird Dogs, Wholesaling
1

Hey all,

I am jumping into the wholesale business over here in Northeast Ohio and am eager to get rolling! As I am just getting started, there is still a lot that I do not know.

2

consistent marketing is the key to success in the business…

3

What kinda of marketing tips can advice working with a small budget ?.. Also with foreclosed homes do I deal with the homeowner to get the home under contract or bank ?

4

Ray

Your subject says looking for more info, but I am not sure what your exact queston is.

A question to ask yourse is “To be a successful wholesaler, what are the two topics you should spend the most time educating yourself?”

The answer is not real estate or estimating repair costs. It is:

  1. Sales / Negotiations
  2. Marketing

Before anything else happens you need to generate LEADS! Nothing can happen in your wholsaling business unless you are getting a steady stream of leads, have a good system that will sift, sort, and prequalify those leads so you only talk with qualified prospects, and have an excellent follow-up system that converts your prospects to customers.

Good Luck!

5

Foreclosed homes are no longer the owners… These are REO’s and need to be purchased through real estate agency.

For a budget bandit signs work really well…

6

Hi Ray!

There are a number of Marketing you can do if you have a limited budget. Just as long as you’re driven and you focus on your marketing efforts, you are bound to find some really good leads. I suggest as a beginner, you spend all the time you can on checking out websites, blogs and forums like REIClub in order to learn as much as you can.

If you come upon something that looks like you can do, go ahead and try it while the drive is there.

Try searching for FSBO sites and call the numbers listed. Also, Craigslist can be a good source of leads. But you must first know, what kind of properties you are looking for. You cannot call all houses for sale. In Wholesaling, you are specifically looking for properties whose owners are motivated enough to sell them at way below market value. This is how you make your profit.

And since this business is ran on those kinds of homeowners and properties, you’d do well to learn more on how to talk to these motivated sellers.

I suggest you first be patient on reading more and don’t be shy to ask your questions. Members here are very willing to help out and answer them.

Good Luck. :smile

7

Ray,

Craigslist is a great free place to find motivated sellers.

I like to search craigslist each day in my area for certain keywords. You would be surprised how many leads I get each day.

You can search for terms like motivated and must sell.

Hope that helps!

8

Thanks for the info gang! I have a possible deal on my hands that’s in another state I have all info on the deal . Question is how can I or where should I go and market this deal for cash buyers ?.. Also where can I get good contracts from that woks in my state and others .

Thanks
Ray C

9

My friend you have a lot of work to do if you have not already started building your buyers list up. GET YOUR BUYERS LIST BUILT!!!. :shocked This is the first thing that you should do and you should always be working on it no mater what. That is your money is, in the Dog On List!!!

Place some cheap sings out around the city saying you have a handyman special for sale, or the craigslist can render many different good buyers list. Let us know how it goes.

10

Hey Ray,

I agree with Delondon, build your database of cash buyers, without the money you don’t make any. Once you have a strong buyers list, then go out and find deals that has tons of equity. There are tons of deals available, so those won’t be hard to find.

To your success! :smile