Real Estate Wholesaling

8 New Killer Resources for Savvy Low-Budget Wholesalers

Expertise: Personal Development, Real Estate Wholesaling, Real Estate Investing Basics
97 Articles Written
wholesaling-tools

I remember starting out wholesaling with no money and little to no resources. Because of that, I wrote an article called “8 Killer Resources for Savvy Low Budget Wholesalers” to help newbies find resources that were very affordable. Now since it has been some years, I thought I would expand the list. Whether you are a newbie or a seasoned investor, these tools are very helpful in getting your first deal or expanding lead flow.

Want more articles like this?

Create an account today to get BiggerPocket's best blog articles delivered to your inbox

Sign up for free

Let’s get started.

8 New Killer Resources for Savvy Low-Budget Wholesalers

Screen Shot 2016-04-04 at 10.48.56 AM

1. ReboGateway.com

This is one golden nugget that anyone using direct mail to get leads need to utilize. Everyone discusses Listsource.com or Mellisadata.com for purchasing direct mail lists, but ReboGateway is gold. Unlike the others, Rebo has the data presorted into categories, i.e. divorce, pre-foreclosure, high equity, probate, tax default, notice of default leads and others. Instead of trying to market to every single absentee owner as most are told to do, this platform can segment the data.

For example you can mail exclusively to absentee owners who are out of state and behind on their mortgages and taxes. Talk about motivated! Oh, and I almost failed to mention, you can create “farm areas,” and Rebo will send you daily notices of any activity in your farm. So, if someone just filed for a divorce in your farm area, guess what? You’ll be notified.

Related: How I Botched My First Wholesaling Deal (& What You Can Learn From My 3 Mistakes)

This will assist in getting a better return on your marketing budget. I must warn you, however, that the response rate maybe lower — but the conversion rate is much better.

Also what distinguishes Rebo from the other list sites is that you do not have to pay for the list immediately — rather, you can set up an annual plan that is the fraction of the cost of paying for one huge list. With Rebo, you can pull leads as many times as you need and still pay the low monthly rate.

Screen Shot 2016-04-04 at 10.49.34 AM

2. BiggerPockets Wholesaling Calculator

Yes I did mention our most famous resource in the prior article, but there have been technological advances made here that were not at my disposal back then. The biggest value add, especially for newbie wholesalers, is the wholesaling calculator. If you are not using this resource, you are missing out on a great educational tool. It would be very beneficial to analyze other wholesalers' deals so you can become familiar with what an attractive deal looks like.

3. Leveraging Your Counterparts

In this business everyone must understand the concept, "It's not what you know as much as who you know." This is very true, and I add this to the list because of the leverage learning component.

Here's what I mean: Many wholesalers send out a property with the purchase price and the after repair value (ARV) noted. As I stated above, this is a great opportunity to analyze their deals to see with what percentage of ARV they are sending their properties out to the marketplace.

It is highly beneficial to join the email lists of all the major wholesalers in your area. How do you do this? You ask. Just Google "sell my house in [your city]" and join the email list. You will be able to see the majority of the non-MLS (off market) deals in your market. You will not only get a chance to analyze their deals using the BP calculator, but you will be able to see who the major players are.

networking-tips

4. Title Companies’ Marketing Departments

Once again, leverage comes into play. This may be a little intimidating for some, but it's very easy — schedule a meeting with a title company.

Why, you ask? Title companies have a dedicated marketing department, and they are willing to help provide tools to help their clients. The reason why I say this may be intimidating is because many newbies don’t have a deal to bring the title company so they believe they are wasting the company’s time.

This is so far from the truth. It’s great to market for a deal knowing you have your title company in place to close the transaction for you. This ties into the perception you have of yourself. You have to talk the talk until you can walk the walk. This does not mean boast and lie, but this means have some confidence and swag about yourself. You have to know that the deal will come, and when it does, you’re going to be ready.

Title companies have lists of sellers that are in distress as well. Here's a quick example: I met with a new title company this week because my old title company called and stated they are no longer doing double closings. I thought to myself, OK, oh well, I'll find another title company. I reached out to a colleague of mine and explained the situation, and he gave me the contact info. I called and scheduled a meeting with the escrow agent. I also asked if a person on the marketing team could be available for the meeting. To make a long story short, because of leverage, I receive a new list of notice of defaulting homeowners every Monday. This is a list of motivated sellers that is dropped into my email that I do not have to pay for. How great is that?

Screen Shot 2016-04-04 at 10.50.56 AM

5. Rent-O-Meter

This site is used to evaluate the current rents in an area, so it's essentially comps for rent. I use this because not all motivated sellers are willing to sell at 70% ARV, but they are willing to give a sizable discount, maybe 80%. This is still a deal, especially for a buy and hold investor.

Related: The Harsh Truth About Wholesaling Newbies Need to Know

They acquire the property with 20% equity position, and as long as the property cash flows pretty well, it's a deal. My buy and hold guys are normally looking for 10% cap rate (NOI/monthly rent), so I know if I can't get the property secured for a rehabber, I can use these leads for our rental guys, and rent-o-meter helps by pulling all the current rents for the area.

Screen Shot 2016-04-04 at 10.51.24 AM

6. IFTTT

This acronym stands for “If This Then That.” I am not quite as experienced in using this, but I am working it into my daily processes. Why do I use this? IFTTT is a program that will scrape leads from Craigslist and other sites daily and either send them as an email or create an Excel spreadsheet and store it on your Google Drive, Dropbox, or any other storage retention medium you use. Again, I am just starting to use it, but I believe this will be a game changer for getting daily active notices for leads.

Screen Shot 2016-04-04 at 10.51.55 AM

7. PostPlanner.com

Want an easy and efficient way to coordinate all your social media post? Try PostPlanner. I was running into the problem where all my online marketing was getting overlooked because I was not doing the social media marketing. PostPlanner help alleviate that problem. On this site, you can plan all your social media messages for the week and even for the month. This will set up auto-post so you don’t have to worry about ensuring your message is out. Keep your brand in front of your audience consistently with PostPlanner.

Screen Shot 2016-04-04 at 10.52.29 AM

8. Canva.com

I’ll wrap everything up with Canva.com. We utilize the marketing ability of Canva with PostPlanner. Canva is a marketing platform that will brand all of your posts. For instance, if you found a great quote online, you can upload it to Canva and add your logo. Staying in the mind’s eye of your audience is very important, and social media is oftentimes the best platform these days. By tying PostPlanner and Canva together, you will be able to expand your branding.

I hope by reading this article and my previous article on wholesaling tools, you will find ways to integrate new strategies into furthering your real estate business. Again, these are all budget friendly.

I would appreciate your input if you have other tools that will help our investors move forward in their investment goals or to help a newbie get that first deal done.

Wholesalers: What are some of the coolest new tools you’ve found to make your real estate business run better?

Let me know with a comment!

Marcus Maloney is a value investor and portfolio holder of residential and commercial units. He has completed over $3.3 million in wholesale transactions. Currently, Marcus is a licensed agent who ...
Read more
    Gordon Cuffe Investor from Roseville, CA
    Replied over 4 years ago
    thanks for giving the tip about rebogateway. I am going to give it a try
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Gordon, Great its an awesome list provider
    Dina Miller from Round Rock, Texas
    Replied about 3 years ago
    Hi Marcus, you had mentioned in the article that you can get lists of ” absentee owners who are out of state and behind on their mortgages and taxes” for example. I just joined and don’t see how to get a list of all those combinations. Also, I don’t see an option for “high equity” properties. Do you know if they’ve changed the site since you wrote this article? Thanks
    Gordon Cuffe Investor from Roseville, CA
    Replied over 4 years ago
    I signed up for rebogateway. You should ask them if you can be an affiliate for them so that you can earn some commissions.
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Gordon, Now thats great advice, I’ll take you up on that and give them a call. Thanks, and I hope the list gives you much success. “Enjoying the Journey”
    Ronald
    Replied over 4 years ago
    How has Rebo been working out? Are you using it as a wholesaler or an agent?
    Curt Smith Rental Property Investor from Clarkston, GA
    Replied over 4 years ago
    I feel for my very small populatoin counties the monthly is too much. I sent sales a contact asking for a discount code to get me on to tire kick and maybe keep robo service. Yes I have been looking for additional levels of stress for sellers and they say they have those catagories. TBD.
    Marcus Maloney
    Replied over 4 years ago
    Curtis, Inbox me i have some info for you where you can get for around $30 bucks. Yes definitely contact the sales team and do a demo and try it as a tire kicker first. Thanks for readying “Enjoying the Journey”
    Carmen Hunter from Fernandina Beach, Florida
    Replied over 4 years ago
    This is a great list, thank you.
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Carmen, Thanks for reading I hope it helps you. “Enjoying the Journey”
    Darieal Sutton, Sr. Wholesale Investor from Philadelphia, Pennsylvania
    Replied over 4 years ago
    Nice post, Thanks for sharing. I’ll have to revisit ReboGateway. Working on the IFTTT automation as well. Just one thing, though haven’t found any other mediums other than CL what would you suggest? I see they removed Zillow etc, or did they just move it.
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Daieal, Thanks for reading, yes they did remove zillow but I’m working to find another avenue for that. If you pm I will be able to send you a podcast about rebo and the direct contact to speak with. “Enjoying the Journey”
    Chris Boyd Rental Property Investor from Charlotte, NC
    Replied over 4 years ago
    Great post. I use IFTTT and it drops leads into my gmail all day, everyday. Very efficient. I’m going to try some of the others you suggest. Thanks.
    Keith Wick from Amityville, New York
    Replied over 4 years ago
    What “keywords” do you have IFTT scrape for on Craiglist?
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Chris, Thats amazing right, I hear so many people complain about leads. There are many resources that will send the leads directly to you. Keep progressing! “Enjoying the Journey”
    Lisa Bujno from Wilder, Vermont
    Replied over 4 years ago
    Hi Marcus, Your article was informative, clear, easy to digest and generous! I am a newbie and I enjoy, reading and my training every day, that God has provided. I am looking forward to my next step. Your knowledge and expertise are greatly appreciated. Keep posting, great stuff!
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Thank you Lisa, I try and help as much as I can I always tell people that we are all Newbies in some form or fashion because the industry is ever changing and no deal is a like. Keep studying and learning but most of all put some things in motion and you will see things start to come together. “Enjoying the Journey”
    Lisa Bujno from Wilder, Vermont
    Replied over 4 years ago
    Hi, I appreciate your encouragement. It is my hope and prayer to put all this learning, into motion very soon. Thank you, for responding. Keep Building!
    Larry Glenn Real Estate Investor from Columbia, South Carolina
    Replied over 4 years ago
    Great info man!! Will be incorporating this into my business model asap. Please keep the info coming!
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Larry, Glad I could be of help thanks for reading. “Enjoying the Journey”
    Sackie Makor from Cranston, Rhode Island
    Replied over 4 years ago
    Hey Marcus great advice I always read your post and they are always filled with useful info thank you
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Sackie, Thanks for the compliment, I wish I could write more but I’m in a highly competitive market and things are getting really crazy. “Enjoying the Journey”
    Santrece R. from Chicago, Illinois
    Replied over 4 years ago
    Hi Marcus, I enjoy reading your articles which are always informative and inspiring! Thanks for the great resources. After reading your article, I decided to give rebogateway a try. So far I’m very pleased with the service and their customer service is great! Thanks again!
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Santrece, Great I hope things work out for you I use their list and it produces continously. Keep pushing. “Enjoying the Journey”
    Tomas Chao from Gastonia, North Carolina
    Replied over 4 years ago
    Great post. Thanks for the ideas
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Tomas, Thank you for reading I hope these tools assist you. “Enjoying the Journey”
    Tobias Armstrong
    Replied over 4 years ago
    These were some great tips on where to start for certain marketing strategies. I’d never thought of a lot of the idea that were brought up, and I’d never heard of a lot of the resources you provided. Thanks for the information, because now I have a lot to start thinking about!
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Tobias, Great glad I could be of help, but stop thinking and start implementing.LOL “Enjoying the Journey”
    Shamsideen Musa Investor from Richardson, Texas
    Replied over 4 years ago
    Im just starting my wholesale business in DFW metroplex and these are some really great tips. If you have any other lead generation strategies or tips please PM me. Thanks!
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Shamsideen, You are in a great market to start, basically all of Texas is on fire right now. There is some stiff competition but just run your race and you will be successful. I would say especially just starting out pick a farm area that you want to focus on and start saturating that area with your marketing, direct mail, bandit signs, post cards, if the area have a local penny saver, try everything but you also have to track everything to know what is working and what is not. “Enjoying the Journey”
    Stefanie A. from Elkins Park, Pennsylvania
    Replied over 4 years ago
    Thank you Marcus for sharing this information! As a newbie wholesaler this is so helpful.
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Stefanie, I’m glad you were able to use some of the content, please give it a try and you will begin to build momentum. “Enjoying the Journey”
    Darnell Griggs from Leesburg, Virginia
    Replied over 4 years ago
    Great article, definitely going to check out robogateway. Wasn’t a fan of what listsource had to offer for that very reason that weren’t many different directions to go.
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied over 4 years ago
    Darnell, Thanks for reading man, yes give Rebo a try and see if its for you. There’s a monthly fee but you can pull as many list as you want versus listsource you have to pay for each lead. Hey man good luck and happy hunting. “Enjoying the Journey”
    Ronald
    Replied over 4 years ago
    A suggestion: Your hyperlinks should open in a new tab, not take me away from your site.
    Tina Pollard from Dayton, Ohio
    Replied over 4 years ago
    More wonderful nuggets. Thank you!
    Michael Perez Investor from Clovis, CA
    Replied over 4 years ago
    Marcus not sure if this was already posted but I found this on another blog to get a free county on the annual plan for robogateway. Promotion: $399.95 for Annual Subscription with 2 counties, Set Up Fee Waived, VIP List Development, Grandfathered Pricing (Retail Price $795) PROMO CODE: JH2SW2 credit -http://retipster.com/real-estate-data/#AgentPro247
    Alisa Lewis Investor from Milwaukee, Wisconsin
    Replied about 4 years ago
    Thanks so much Marcus, as a reformed newbie This information has just accelerated my ability to be epicically productive and by pass a lot of time that otherwise would be spent guessing, assuming and wasting valuable dollars on endless lead companies, can’t wait to implement and again thanks for all the info.
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied about 4 years ago
    Alisa, Glad I could be of help, start implementing and get started. Thanks for reading. “Enjoying the Journey”
    Keith Weigand Rental Property Investor from Cleveland, TN
    Replied about 4 years ago
    Thanks for the tips in this article. While I used some of them, others were new and I appreciate your sharing. God Bless
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied about 4 years ago
    Keith, Thanks glad the article was useful, which resources do you use currently and how do you like them? Would love your feedback
    Alex Saleeby Specialist from Beaumont, TX
    Replied about 4 years ago
    Thanks for the write-up. Great tips. WIll definitely give Rebo a try
    Jonathon Coleman
    Replied almost 4 years ago
    Good info
    Marcus Maloney Wholesaler from Queen Creek, AZ
    Replied almost 4 years ago
    Thanks for reading Jonathon
    Tim Ivanchuk Real Estate Agent from Omaha, NE
    Replied over 3 years ago
    I just wanted to confirm that the wholesale calculator would allow me to analyze other wholesale deals so I could begin to recognize good deals a little better. I don’t have access to it yet as I’m still in the learning stage and don’t want to spend a penny on anything until I gain more knowledge. In the meantime, are there any other free tools that would enable me to analyze deals or even word problem examples?
    Tim Ivanchuk Real Estate Agent from Omaha, NE
    Replied over 3 years ago
    Also, how exactly would one use IFTTT program to generate a report from craigslist, etc?
    Marcus maloney
    Replied over 3 years ago
    Tim, Go to this link for IFTTT programming its fairly simple https://ifttt.com/classifieds
    Marcus Maloney
    Replied over 3 years ago
    Tim, Google sell my house “your city”, the google search will provide you with a list of wholesalers and fix and flippers. Subscribe to their email list to get their latest deals. Once you receive these deals in your email then you can analyze their numbers and ARV to get a good understanding of what a deal looks like. Its good to to divide the wholesale price by the ARV to see what percent they are putting their deals out. Is it 70% Arv, is it 75% or maybe even 80% this will help you understand the wholesale market in your area.
    Stefane Nichols
    Replied about 2 years ago
    Marcus, these are great tips and resources. Thanks for sharing your knowledge.
    Alex Shin from Los Angeles, CA
    Replied almost 2 years ago
    Great post! I’ve been researching different list lead sources and have been hearing positive remarks about ReboGateway. In your experience, has the site changed? I heard that they don’t offer ‘bronze’ level anymore. Did you see a decline in service/options available on the site? Thanks Marcus Alex