Business

5 Replies

How would I go about building my brand and making a business out of wholesale real estate or house flipping? 

Telling anyone and everyone what you do. Use social media, your car, your website, business cards, just tell everyone what you do. Send direct mail, post on Craigslist, take investors and lenders to lunch, tell them what you are doing. Connect with brokers in your area

I wouldn't. Building a brand as a wholesaler is pointless. Property sellers are not going to line up to sell you their house for 50-60 cents on the dollar because you fly your flag as the wholesale king. Real estate is typically a one shot business - you buy the house, and they disappear. They typically don't talk about the sale and rarely refer new business. There are exceptions to the rule, but if you stick with the business long enough, you'll learn those exceptions are few and far between.

You're better off investing your time in networking and getting the word out to agents that you are a performer, meaning you close and don't complain. A good network of agents in your farm will bring you deals again and again. The individual sellers are more often going to sell to the one off guy who contacts them and asks about buying their house. I can't tell you how many deals I've snaked from idiots who bought into Homevestor franchises here. Once they learn that the other guy is part of a national franchise and I'm just an average local guy looking to acquire another rental, I get the deal - every time. That is why radio commercials, television commercials and people who advertise on billboards about buying houses eventually disappear. After writing those $5,000 checks month after month only to realize a bunch of mobile home owners in senior parks call them 100 times a month, they shut that down. At least in my market they never last.

@HaaShim Graham I would suggest that before you start trying to promote your business to anyone you might want to learn about what a brand actually is. What will your brand stand for? What level of value will it deliver? What market will you operate in? Who are the key competitors in that market? Will your brand be low cost or high end?

Understanding what branding is all about will help guide you to where, when, how and why you would use different methods to generate leads. High end brands that charge a premium for their goods or services would not operate in low end markets and vice versa. A low cost brand would not try to operate in a high end market.

There is a wealth of information on BP about how to find deals in the wholesale market that you can access. I hope I have read your post correctly about brand building because this is not as common a topic on BP. Brand building is a marketing exercise, not a selling or sourcing exercise. It is important to understand that selling is a process of the marketing plan of a business, just as brand development is also a process of the marketing plan. Your brand development should help you identify your sales activities, advertising strategy, advertising budget to some degree and likely profit margins.

If you are in fact looking for info on brand development then I would suggest researching brand development on the internet. If, however, you are looking for ways to operate as a wholesaler then the comments made by @Aaron Mazzrillo are very well worth taking on board.

Hope this helps.

Happy investing!

Thanks everyone for all of your help. I appreciate it a lot.

@HaaShim Graham

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