What would be the most effective method to use to find motivated sellers for wholesale deals with a 250 monthly marketing budget? I know this been asked in the past but was curious since I am new to wholesaling.
Do mailouts
Drive for $$
JOHNNY HOPKINS
Get leads of people that are 45-90 days late. Thats all I work off of and we are super slammed.
figureditout, you find these people have enough equity to wholesale?
codog, you can put out 100 bandit signs one month, and send out a mailing the next. You can also buy leads off the internet for that amount month. And, there are free things you can do, also - craigslist and backpage.com ads, driving for dollars, networking, passing out cards, flyers, etc, etc.
Some of these people have enough equity to wholesale I guess. I never wholesale personally I find it to be a waste of time and money, I know that some of you make a great living doing wholesale deals yet WHY?? Wholesale it and make 3-15k or flip it and make 30-50k?? Just how I roll.
It’s preference. Some enjoy the no risk end of wholesaling. You’re in and out. And yes, generally the spread is bigger in rehabbing, but the risk is greater, you have to manage crews and then deal with the end buyer. And, you can make some big spreads wholesaling, too.
One of my students hit $50k profit on one wholesale deal a few years ago…
You can motivate buyers by giving them fruitful talks… 
amaze them with your sales talk
I am sure you did not realize this when you wrote it but your post sounds very condescending, not to mention misguided regarding the profit potential of wholesaling. You may limit the fee you can make on a wholesale deal to $15k, but I know someone who made 5 times that on one deal.
Anything is a waste of time and money when it is not done right.
Is there a way to do this online? Or do you go to the county courthouse to find these?
Have you tried probates?
Try putting together a list and sending them postcards, letters, door knock & leave behind?
Not sure where you’re located but Florida-probate-data.com is one here in Florida.
You’ll spend more by subscribing to the list than you would if you generated the list yourself by going to the courthouse or if available online.
It’s been my experience that all of those methods CAN work.
However, you can greatly increase the effectiveness of any bandit sign campaign, direct mail campaign, poster board campaign… by including a website on your marketing pieces.
Along the same lines, I’ve had incredible success with Google Adwords, Yahoo, Bing and MSN.
It’s like my Dad used to tell me… “Son, if you wanna catch fish, you gotta go where the fish are” and when sellers wanna sell they don’t sit around and go… “man I’m hoping a direct mail piece will show up”… they also don’t go “I think I’m gonna drive around town till I stumble across a bandit sign”…
Don’t get me wrong I’ve done plenty of deals from bandit signs… plenty from direct mail too. The fact remains, when sellers get desperate they don’t go to their mailbox, they don’t go for a drive, they go to Google and search for things like “How to sell my house fast”, “Pre-foreclosure help”…
Just my 2 cents.
You can look for motivated sellers in places that will cost you nothing or very little. Sites like Craigslist and FSBO’s have some really good leads. You can drive for dollars. Or since you have some money to spend, you can buy a list from sites like Listsource. After doing it for a while, you’ll get better at looking for ads and properties that have big potential to become great deals.
I recruit bird dogs on Craig’s List. It can be frustrating though, out of 50 only a few will actually send you houses. Some will be angry wen they send u a lead and you cant do anything with it. Just the other day I drove thru a few neighborhoods and found 5 vacant houses in 3o minutes. it’s like what is wrong with these people? I also use the yellow letter to absentee owners. Im just getting started but did 10 deals last year.
listsource.com was a disaster for one of my students. The data was over four years old. Their data is not updated evenly across the nation.
Be sure you check out the last time the data was abstracted. You need up-to-date ownership information.
Any list service needs to be checked for abstracting dates.
-
Cold Calling (daily)
a. for rent ads/ For sale (Craigslist, Backpage, other FSBO websites, newspapers, etc) -
Bandit Signs
a. Order 100 to 300 and put across major intersections in target areas -
Ads
a. Vehicle Signs – good quality car magnets on both sides of car.
b. Internet Marketing / Social Media -
Learn a certain market (Walk/Drive for dollars)
a. Write down vacant and/or ugly houses so you can mail to them a handwritten note and see if their phone number is listed to call them. -
Direct Mail (postcards and/or letters)
a. Probates – go to courthouse and pull list and mail to them