Hi Jordan, I have a few questions...
1 have you done a direct mail marketing campaign yet?
2 gathered a buyers list of any sorts?
3 done any type of marketing (bandit signs, flyers, google adwords, handing out business cards, word of mouth, Craigslist...?
The reason I ask is because I've learned time is money.
Not everyone has money to start a business but it's more about making the right decisions and learning from the bad ones. Think about the time you spent driving around excited, looking for beat up or vacant properties. Cost of gas, maybe food, 3-4 hours of driving? Then going home and researching the property trying to find the owner/tenant just to come up with a property that is underwater, 2-3 liens, passed away or simply walked away. You've now spent an entire day on one property that you can't wholesale...
Time is money.
Direct mail takes a few minutes...
Figure out a way to save money for DIRECT MAIL!! Postcards are cheap, letters cost more but they both work! Time is money! I used zillow for sold comps.
Here's the deal, send mail to absentee owners and use postcards, send out as many as you can monthly and follow up every single month for upto 7 months. You will get a deal from someone fed up with tenants, old, tired or just needs to sell.
Time is money!
Send out the mailers to buyers and sellers, answer the calls, coordinate the deal and collect your check!
It's not that easy trust me... IT IS A JOB and when you complete that first one you'll know what I'm talking about!