Any tips for the newbie wholesaler?

3 Replies

Hi BP,

I have been researching and researching until my eyes literally popped out today while reading another book on wholesaling and short sales. Does anyone have any tips on how I can make my time a little more efficient rather than sending yellow letters? I've come to notice that every piece of data in the newspapers are on websites like already and it makes the morning paper look like old news. Is there any other way to get a jump on the competition?

Thank you BP

There are lots of ways to find deals. I have never sent a yellow letter and have only gotten 1 or 2 deals from Direct mail.  do some searches here and you will find lots of ideas about how to find deals. 

I greatly prefer to develop my own leads than to buy leads from a second hand source.

You may also want to consider developing some relationships with some real estate brokers, title companies, lenders, hard money lenders and divorce attorneys.  You never know what they may know or come across.

While I've only been looking at wholesaling for the past 2 months or so I have already been able to spot about a half dozen properties that warrant an offer. Usually they come from some of the more obscure places but it doesn't hurt to have a well-established network of people in the business.

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