BiggerPockets

Sure,

I'm new to all this too. I can't offer much wisdom but I can say that I am trying really hard to focus on my area and one thing at a time so I'm not all over the place. Once I've mastered that I'll reassess and take it from there.

Every market has its issues right now, don't focus on the negative. There is opportunity everywhere. My personal goal is to be an expert in my market, learn where the opportunities are and structure my plan to work best around those.

Opportunity is there, you can find a negative to any market. Some might say my market is overpriced, too competitive, people paying too much for little to no returns. I don't care I am certain money can be made and I can do it.

I know I just sorta followed everyone of your posts on here this morning, I'm not stalking you I swear! I'm new too so I want to encourage and support other folks on here :)

Thanks guys... I appreciate the encouragement, suggestions, compassion, and support.

No, I don't feel stalked... YET! Haha

It can definitely be done, I just started wholesaling about three months ago. Only 1 of my 16 deals have been in my actual area that I live. All of the others have been 90+ miles away.

Hello,

I all business there are 3 things that must be carried out in order to be successful.

1) Lead Generation
2) Lead Capture
3) Lead Fulfillment

Lead generation is fairly easy to perform outside your market as long as you implement a paid marketing approach. In other words you can't network, hang bandit signs, and use decals on your vehicle or anyone of the number of ways to market yourself through sweat marketing. You can send direct mail, run classified ads, post craigslist and such.

Lead capture is also easy. The key component here is that the person responding to your advertising thinks that you are local, which is easy to accomplish by buying a local telephone number or various local telephone numbers to track which campaigns are performing over another campaign. You can either have a voicemail or answering service handle the calls. I am not certain I would handle them yourself as your street knowledge or lack thereof may hinder your performance during the original call. Too many references are going to be made to local areas and unless you have a firm grasp on the local market this maybe awkward. The follow up call is less awkward since you're calling back about a specific property and can dictate the conversation better.

Lead Fulfillment is another story. Fulfillment encompasses both buying and selling of the property. From my perspective the reselling is fairly easy since I dump everything on the MLS and let a Selling agent sell it for me. However if wholesaling then I will need to create a buyers list which absolutely can be done however without a meeting in person with the prospect it may be an obstacle that will interfere with a full resell wholesale value.

As for buying the property. I have found that this is easy as long as you have two systems in place.
1) The ability to manage and locate your core team members from a long distance. Your core team is made up of.
• Realtors or Agents, three being the optimal number.
• Roof Certification Contractor
• Termite Contractor
• Home Inspector
• Handyman and/or General Labor Contractor. (Not a General Building Contractor)
• Closing company/Escrow-Title company
• Lenders (For lenders I would want an Equity Lender, which is different than a Hard-Money Lender, an A paper lender and a Marginal Lender. The reason for the equity lender is that this professional is the most qualified to give you Price Opinions.
2) The ability to communicate and orchestrate obtaining contracts via Fedex, Email, Mail, Fax or Courier. Your communication style must be "this is how it I do it" and not deviate from this model. If you don't believe neither will the seller.

Also note two things. One, you'll do less deals per marketing dollar and two, more deals will be from highly motivated sellers. Your seller will probably be absentee which your city absentee model fits. An absentee seller 2 states away isn't going to want to travel to meet you whereas an owner occupant will want to "Show" you the house.

Lastly this model is absolutely driven by MARKETING. There is little you will have direct influence over. So don't be afraid to spend the money.

You absolutely can. In my opinion the hurdle will be if you have buyers that are willing to purchase in that area.

So the bigger question is are you willing to build a new database?

You are in Milwaukee??? And cant find deals??? You are doing something seriously wrong. The city is huge and growing. You may want to slap up some bandit signs around the city and see what bites.