Investor · San Antonio, TX · Member since 2013 · 27 posts · 3 votes
I'm so excited on closing on my first deal today! It's not a small pay out too! What "next move" is a must, if I'm aiming to close on at least one deal a month? I work fulltime, so was thinking a VA, buy lists, and try and recruit property scouts. What do you think? I want to step up my game.
Wholesaler · Mishawaka, IN · Member since 2013 · 438 posts · 346 votes
12y
You can pay bird dogs to bring you properties, buy lists, drive for dollars, or put up bandit signs. Those will all bring you motivated seller leads. Just know you will need to make a lot of offers. If you get 100 property leads, you will probably make offers on 10, and probably get 1 or 2 accepted. It's a numbers game. Make sure you aren't paying to much. If you are wholesaling them, figure out the ARV, multiply that by 70%, and then subtract whatever the cost of repairs is. Whatever price you come up with, is what you should be selling that property for.
Wholesaler · Mishawaka, IN · Member since 2013 · 438 posts · 346 votes
12y
You can pay bird dogs to bring you properties, buy lists, drive for dollars, or put up bandit signs. Those will all bring you motivated seller leads. Just know you will need to make a lot of offers. If you get 100 property leads, you will probably make offers on 10, and probably get 1 or 2 accepted. It's a numbers game. Make sure you aren't paying to much. If you are wholesaling them, figure out the ARV, multiply that by 70%, and then subtract whatever the cost of repairs is. Whatever price you come up with, is what you should be selling that property for.
Inland Empire, CA · Member since 2012 · 63 posts · 12 votes
12y
Congratulation on closing your first deal! Now that that's out of the way, your next deals should be a piece of cake, right? At least that what's most people say. :-) Either way, good luck with your future deals.
With that said, I agree with @Chris Piper and @Kelly P. - this is a numbers game and you should put that money into marketing.
May I ask, how you landed this deal and how you get it to close? Thanks!
Real Estate Agent · Philadelphia, PA · Member since 2013 · 87 posts · 19 votes
12y
Congratulations @Max Garcia Jr!!! I am a newbie wholesaler as well so I am looking forward to the day when I can make this post myself!
Something that has been suggested to me (I work a full-time day job myself) is to use an answering system like PAT Live to field calls when on the job and then you can basically screen the junk leads from the leads that come to your inbox based upon the script that you are giving your "PAT" to ask the sellers. I'm still in the planning phase, so I haven't used it yet but it sounds like a great way to go IMHO.
Best of luck to you in the future with your real estate business!
Investor · San Antonio, TX · Member since 2013 · 27 posts · 3 votes
12y
Thank everyone! I will consider these suggestions all weekend and implement next week. @Account Closed I drove a high value neighborhood and found this duplex vacant. I sent the seller a yellow letter. He turned out to be connected in the industry and a great person to work with. I've assigned the deal to a rehabber that will convert it to a SFR. Good stuff
Real Estate Investor · Oklahoma City, OK · Member since 2009 · 71 posts · 21 votes
12y
Congrats @Max Garcia Jr , now step up your marketing. You got past the hard part, now set your marketing up so you can get leads on a consistent basis. Get to know your target area and use different marketing avenues.