Marketing and Wholesaling Business Plan.
Hey gang,
I thought I'd put this up to the trusted BP community, ask you guys to tear it down, and then I'll build it back up. (I also apologize in advance if this gets just a little long - I'll do my best).
So I'm planning to start a marketing campaign with my partner in exactly a month's time. We first want to wholesale deals before we put other tools in our kit. We have a budget to send out 1500 pieces of mail each month for six-seven months, and in my head these are the steps between here and there for the next 30 days:
1. Legal coverage. We are both real estate agents, and he is also an attorney though he doesn't specialize in RE law. We need to first figure out how we operate as a licensed person assigned to a brokerage because we want to do this whole campaign separately from that (for marketing reasons).
2. Choose a list. This is where I could use some advice. I understand the basic options, and have listened to the podcasts with Michael Quarles as well as the ones with the other wholesalers, but are there strong reasons you would recommend new wholesalers choose one particular list? We are thinking about working probate. He has done a bit of legal work in this area, and I've gone through the process personally. I know there are some hoops to jump and processes to learn with any strategy, but it's all doable. Also, everyone on the podcast says absentee is over worked, do you guys think that is because it seems like the easiest list to mail?
3. Marketing pieces. I like everything I see on yellowletters.com, and might just use that for all the pieces, though we are looking into other avenues (my friend knows a local printer, for example). Would everyone be kind enough to maybe throw out list sources as well as marketing platforms that provide these services? (In addition to listsoure and listability).
4. Set up lead capture. What services are available in addition to google voice for bouncing calls to my cell phone during the day and my partners at night? As well as a prerecorded voicemail if none of us are able to take it? (As well as saving the number for quick call back?)
5. LLC? I'm not sure it's necessary at this point, but it only takes 20 minutes to do and it might be worth it because then when either of us signs a contract we can just use the name of the LLC rather than our own.
6. Design scripts so we can standardize and systematize all of this and how we deal with sellers.
7. Systematize.
8. Close deals, scale marketing, and hire VAs.
I believe we already have the contracts covered. In WI its just the WB-11 'and/or assigns' clause with a separate assignment of contract that my partner is currently drafting.
Additionally, what metric tools do people use for tracking response rate, lead capture, etc, etc.?
If you read to the end of this I heartily thank you, whether or not you choose to respond.
Thanks in advance, I wouldn't be doing it without BP.
Best,
JTM
P.S. I'm not sure this was the best place to post this, so sorry if you see it again elsewhere.