BiggerPockets

If you're asking this question then I'm gonna make an assumption and guess that there are other pieces of your new business plan that should be set up and worked on first, things like establishing a solid database of buyers, having good and legal contracts to use, market knowledge, industry contacts like an agent, title company, and so on.

There are plenty of good blogs, forums, and articles here on BP that have covered the question you asked. And while they're free of charge, they DO cost something valuable: your time to search for and read.

To give a general answer though, the list service websites you're referring to have databases of individuals (with their mailing addresses) that fit searchable demographics. You can purchase lists of people to market to based on things like Absentee ownership, pre-foreclosure, etc.
Once a list is bought, many people use www.click2mail.com to design and mail postcard marketing material to get their phone ringing. Purchased lists can be easily uploaded to the site, then mailed to your target market.

The list service and postal service websites will usually have a written or video tutorial on how to use them. Do some searching here on BP and on the sites you'll potentially use; you should be able to learn the mechanics of it all in a short time. Of course, there's more to wholesaling than just that...

Originally posted by Jason Bentley

If you're asking this question then I'm gonna make an assumption and guess that there are other pieces of your new business plan that should be set up and worked on first, things like establishing a solid database of buyers, having good and legal contracts to use, market knowledge, industry contacts like an agent, title company, and so on.

There are plenty of good blogs, forums, and articles here on BP that have covered the question you asked. And while they're free of charge, they DO cost something valuable: your time to search for and read.

To give a general answer though, the list service websites you're referring to have databases of individuals (with their mailing addresses) that fit searchable demographics. You can purchase lists of people to market to based on things like Absentee ownership, pre-foreclosure, etc.
Once a list is bought, many people use www.click2mail.com to design and mail postcard marketing material to get their phone ringing. Purchased lists can be easily uploaded to the site, then mailed to your target market.

The list service and postal service websites will usually have a written or video tutorial on how to use them. Do some searching here on BP and on the sites you'll potentially use; you should be able to learn the mechanics of it all in a short time. Of course, there's more to wholesaling than just that...

i pretty much understand the basics of wholesaling, my problem is i live a distance from my target area, thus, i was trying to figure out how to market to property owners. i know how i can get a buyers list for the area, its finding the properties long distance that i couldnt figure out. i didnt know what to look for in realquest, etc. to find potential homeowners wanting to sell. i figure that absentee owner lists would generate either a potential buyer or seller, correct? preforeclosure, thats obviously a potential seller. what other demographics would i search for when looking for potential sellers?

Originally posted by Jonathan Rexford

I like using a product such as www.listsource.com the problem with realquest is that unless you have a huge budget to canvas the entire viewing area you are going to be left with your certian area.

I am assuming that you know what demographics you are wanting to purchase with what you have said.

I like absentee ownership of 10 years or more with a home built pre 1990. That is my demographics.

ok, but are you using the absentee list as a means to find buyers or sellers?

@Jawsette: Thanks for the luv on the forum! I've seen a bunch of your posts. You're very sharp as well and I look forward to more of your contributions to the BP community : ]

Troy, regarding "finding properties long distance" on the seller side, I believe the two I listed are the most widely used (and most obvious?). Bankruptcies and Probate lists might also work for you. If you have an R/E agent you've networked with locally, you should be able to get an 'expired listings' list that should yield a respectable amount of motivated leads per batch. However, in working with an agent you'll want to build in some benefits for the agent into your business plan. If you have questions about how to make it a win-win, you could probably network with an agent here on BP who'd be happy to share some tips. I hope this helps. Best of luck to your investing endeavors!

Chris,

It definitely feels good to give back to the BP community that has been so giving to me since I joined.

I can't answer your first question but you might have better results if you do a search on BP profiles of agents in your city (click the *Networking* navigation link under the search bar).

I think the answer to your second question depends largely on two things: your exit strategy and your creativity (which I think is most important). If you intend to wholesale, you most likely wouldn't require agent representation so you could pay the agent after you get your check. However, people should be rewarded for giving you some of their time and effort so you might consider paying a small gratuity after maybe four or five lists received, etc. This is good will, good business practice, and good networking in my opinion. If you come across a deal in which agent representation makes sense, of course the agent providing you with the expired list should receive the benefit of representing you in that transaction. You could refer listing clients to the agent, which is a HUGE deal because the agent will LOVE you after that. Especially if you do this multiple times.
Or if you plan to rehab and retail on the MLS, you could guarantee the agent the selling listing as well.

The possible incentives could go on and on. If you provide a valuable service, you could even make some fair trades. This list is far from comprehensive. If you feel you still need more you can PM me and I'd be fine with helping you identify some things that might work for your particular situation.