what now
I've created the business name, email, website ,cards and mailings are out. I've been researching hundreds + properties. Sought out investors who never panned out . completely dedicated to this dream. I'm feeling like I can't breakthrough and get that really solid deal.....need a boost of confidence here.
Comments (21)
.Feeling really inspired right now seems like as the weather breaks the opportunities are showing up This is the year ...learned from some mistakes and have grown some. Have teamed up with some really great people and looking forward to meeting you even more promising connections.
Jason Fripp, about 9 years ago
I really appreciate all of the advise, positive words and encouraging story's .fell off for a moment lost a little momentum. But I am back at it with my team. Determined to close deals and build our dream. Never giving up.
Jason Fripp, over 9 years ago
Be current with your research and educate your mind in wholesaling. There are many of newbies who are in the same bracket( including myself) like yourself trying to find their grind. Some places will be easier than other places to find deals, some people will find deals before you or me even mail out a letter or postcard. At the beginning a cost you going to be hungry, starving for that first lead, but for now, maintain, master your game plan and you will get there with no doubt at all. Stay positive and keep learning it will happen one day...
Levon Turner, over 9 years ago
Hang in there! I searched endlessly for my first deal, auctions,mls,wholesalers. It took me close to 5 months to find the deal, and it actually happened by chance! I kept getting outbid when I submitted offers on properties, but always made sure to always submit a back up offer. Well my first deal was exactly that, I got lucky the inital buyer backed out and I got the deal!
I made $21,800 on that deal!
Stay positive, and never rush into a deal, there's nothing worse than working a rehab and knowing your working for free. (Experience)
Don't give up!!
Yale
Yale Hamrick, over 9 years ago
Hi Jason,
My wife and I are just getting started, too. We're a little behind you regarding marketing for leads, but our strategy is to learn and become familiar with the wholesaling process first. I am attending local REA investor club meetings, and I can tell you I have several investors who have told me that they will look at every deal I get, and as long as it fits their criteria, they will buy. These are seasoned investors, and all have told me that there is a lack of good wholesalers in our market. These guys have a wealth of info that they are happy to share, just like here on Bigger Pockets. If you haven't checked out your local investor meetings already, look them up and go talk to them, you'll find your buyers :>)
I wish you every success.
Blessings,
Graham Lyster
Graham Lyster, over 9 years ago
Graham I really appreciate your heads up on this. It's funny I just looked into these meetings and was thinking about attending on soon. This is great info...God bless you and your wife with great success in your real estate endeavors. See you on the other side of success.
Jason Fripp, over 9 years ago
Every investor I spoke to told me the same thing - get your numbers right! Meaning, make sure your rehab estimate is accurate (there will always be some leeway due to unforeseen repairs), your ARV is accurate, and pull up to date comps. I was told that some wholesalers present poorly/inaccurate structured deals because they are trying to make too much money! To my way of thinking, I'd rather take less on a well structured deal and have investors take me seriously, than try and get rich on every deal I find. Once we feel comfortable, and have built a solid network, we move into fix and flip (I have a construction background), and eventually fix and hold.
Best of luck, and see you on here.
Graham
Graham Lyster, over 9 years ago
Jason Fripp, over 9 years ago
I heard that it is tough to wholesale in Connecticut. Does anyone know about the third party buyer laws in place. Seems like that would be a huge obstacle. .....has anyone really had success in the CT. market?
Jason Fripp, over 9 years ago
Thanks for the words out encouragement everyone, I'm in the same boat as well. Very frustrating, but I have no choice but to continue & try hard because I do want this & need this to workout.
I wish everyone the best of luck with their business & goals.
Thanks Jason Fripp for the blog & to those who commented on here as well, it's always good to know your not alone in the process.
Jay S., over 9 years ago
Jay. ...I guess we will just have to hang in there. If I can ever be a resource to anyone please don't hesitate to ask. Hope to see you all on the other side of successful entrepreneurship. Let's build together. ..
Jason Fripp, over 9 years ago
Hey Jason,
Beginner's luck maybe, but I sent out my first yellowletter DM campaign a few weeks ago. I got approximately 60 leads and round two of 5 starts next week. I've widdled those 60 down to about 20 that are worth following up on. From there, I called and widdled it down further to 12 that are worth talking more to.
I submitted my first offer 2 days ago and just got the seller's acceptance last night! I will be putting out another offer this week for a rehab candidate. After these, I have 3 more that I'm very optimistic about.
PM me if you'd like and we can talk about my list, strategy and systems.
Maybe there is something we could learn from each other?
Mark
Mark Moore, over 9 years ago
Hey thanks Mark...let's connect and I think I could learn a lot from you sir.
Jason Fripp, over 9 years ago
Same situation here Jason. The replies you got from your post just gave me a boost. Thanks for the contribution.
P.S. I just finished my first flip and after 9 months of a nightmare I squeezed out a little profit and huge learning lesson. Good luck too you. Don't give up.
Derek Mercer, over 9 years ago
Jason Fripp, over 9 years ago
Jason,
I totally know how you are feeling. I spent the first six months just reading, watching, and listening to information about real estate. I just want you to know that the easy thing to do is quit. It is hard to start a direct mail campaign not knowing what leads if any that you will get. I have been sending out letters for 4 months now spent $500-$600 on letters (ink,paper, envelopes, STAMPS) and I finally have a solid lead just a few minutes ago. I kept hearing "It is just a numbers game" and they said that if I keep doing the next right thing I would eventually get a good solid lead. After months of hearing that I finally get it. I was in a similar situation just last week where I felt like things were going nowhere. You are in the best place possible- BiggerPockets! I know, this sounds like a plug, but I found my mentor from this site and my life has not been the same since. Reach out to someone in your area who you "want what they have." I mean find a mentor who can be a personal coach. A good mentor will not charge you money for this, and they will be honored to help you grow in this business. You are so close to finding your first deal, do not give up before you have given yourself a solid shot and being successful! This is what the gurus never tell you-that there will be times you want to quit. From my experience(which is very short) I have found every time I want to quit there is a great deal just around the corner! Do not let this opportunity pass you by! Good luck and God bless!
Stephen Barton, over 9 years ago
thank you for the encouragement Steve. .. I needed to hear that. I truly believe in my heart I can be successful at this..I want a better life for my family and to be able to be a resource for others coming behind me. I will not quit. Thank you sir
Jason Fripp, over 9 years ago
Jason,
You've said that you've researched hundreds of properties and sent out mailings. Can you give more details? You've sent out how many mailings? What type and what did they say? Who did you mail them to?
And you mentioned investors that did pan out. How many real buyers do you have? Did you find out exactly what they are looking for (i.e, how good the deal has to be, type of property, value of property, location, etc.)?
Keep in mind that there is a silver lining to this frustration. It separates the wheat from the chaff. Every industry has a barrier to entry. That barrier is important because if there were no barrier there would also not be an opportunity for those who overcome it. For wholesaling, the barrier is time, a little money, and frustration. Be thankful for that barrier and be one of the ones who overcomes it.
Larry
Larry Turowski, over 9 years ago
Jason Fripp, over 9 years ago
Hey Jason - Jump on the forums and get involved . . . all the stuff you've done is great, but what matters is learning how to find and evaluate deals. Spend some time on the marketing forums and listening to the BP podcasts that focus on that topic -- I think you'll find it time well spent.
Don't get down -- it takes time. Be patient, soak up the knowledge and you'll find something.
Most importantly, don't let the challenges you're having force you to jump on bad deals because you might be desperate for one. That's the worst thing to do. Be sure to leave the emotion out of it.
I hope that helps!
Josh
Joshua Dorkin, over 9 years ago
Hey thanks for the great advice. ..I will connect with those resources asap. I will stick with it and make sure I'm well educated and level headed going into a deal..... God bless
Jason Fripp, over 9 years ago