New to Wholesaling

3 Replies

Hi I'm Chester

I am new to wholesaling I haven't even sent out my first yl yet. I have a list of about 300 out of state absentee owners with 75-95% equity and the last sale date is like 10 years ago or older. I have a budget of $200 a month maybe $4oo for marketing. I am trying to wholesale houses in Atlanta. I have about two legal pads of yellow letters written and 200 stamped envelopes. I was thinking about doing ads on craigslist but since I am a math teacher I prefer the law of averages presented in direct mail. I guess my question is after I mail out the first round then what? I can realistically only touch the people on my list once a month. I think I pretty much have step one done I think i need some clarification on step two what ever that may be. What I would like is some analysis on my prep work so far and some direction on where to go next.

Hello Chester -

welcome to wholesaling! :)

These are some of my thoughts/suggestions:

  • First of all, the quality of the list is important for the best response rate. If you don't get at least 5% phone calls from your mailing, you need to revisit the source;
  • I am more inclined to printed letters and envelopes with a good tag line to get people to open the envelope - I am not much for yellow letters;
  • To increase your success rate, after you do the mailing, try to get as many phone numbers as possible for the people you mailed to - you can try to use, or intelius (fee based) - you might also want to visit personally a few of these properties, and talk to neighbors, to find out more about the owner.

To me direct marketing is a 3 step process - good list first, tweak the mailing until you get 5% or better response rate, follow up as many as possible (via phone or personal visit.)

Good luck! :)

I got my list from so it should be good and I can't really visit the property because my farm area is two hours away however after I have made contact with a potential seller then I would check out the property.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here