OK...So I just started my business and I don't know what to do next. I am using Realeflow to find properties but I don't what would be a good deal and what is not a good deal to do wholesale, I need help. Someone, please help me.
First go to every open house you can . Over time you will see whats a value and what isnt.
Please dont tell us you heard a podcast and decided to become a wholesaler.
I'd suggest setting aside time everyday dedicated to RE. Listen to every single podcast starting with number 1. From there you will have a good idea of where to go next, what to read etc.
Originally posted by @Joshua Tobin :
I'd suggest setting aside time everyday dedicated to RE. Listen to every single podcast starting with number 1. From there you will have a good idea of where to go next, what to read etc.!
Dont do this...............it will drive you NUTTs. Do as i said....................lol. Take off the high heels put on some Steph Curry sneakers and hit the pavement.
The site you have listed in your signature, is that your company? It has properties listed for rent it looks like? So you do own properties that you rent? And it says you are a private broker. So you have your agents license? That's good start.
For wholesaling, I feel like a lot of it would be the networking. Along with that, taking time to learn how to do comps and figure out the potential value of properties. I have no experience wholesaling but I feel like these are things that would be good to figure out.
First, what strategies are you using? I looked at RealeFlow - seemed interesting. However, it also seemed like if you don't know what you're doing you could end up in a really bad place. For example, it features "low equity" leads. I'm not saying a low equity can't be a deal, but certainly you'd need some other major motivating factor. In bankruptcy, look up the automatic stay in your area. There can be lots of rules preventing sale of assets once bankruptcy is instituted. Bankruptcy is one of those things that SOUNDS GREAT but is hard to work. Absentee leads? Well, that might sound good, but you need to avoid corporations or companies that own lots of properties to the extent possible (not always possible if they mis-spell their names and use different mailing addresses). Tax liens is cool, but if they recent'y purchased property, they'd rather die than sell at a loss (seriously), in my experience people would go to the day of auction rather than sell at at a loss).
Also - going to be real about your site. I don't know how or who recommended that - but it needs facelift. My site may not be the prettiest, but it converts over 15% for Google Adwords and I get lots of organic leads. It's all very distracting and I have to spend like 30 seconds to a minute to even figure out what you do and where you enter the info.
Is this a hybrid agent/cash buyer site? If so, seriously consider breaking them up. Your site needs a PURPOSE, it's not a business hub. Now, it's perfectly acceptable have a business hub site, but if you think your home page is going to be pulling in your organic traffic, then that can't be a business hub site. You can start a completely diff site or different page.
And to be honest, I think I only found it because I spend alot of time on lead generation websites and know how to move fast - I could see home sellers never finding where to input their info.
You also feature that "we are not real estate agents" - but then have a bunch of what appear to be MLS listings hehe . . .
Hey @Tanara N Taylor ! @Lucas Machado makes a very good point about making sure that your site has a clear purpose. You want to make sure that the traffic that is headed over to the site doesn't get drawn away from why they are there, and that the conversion action is extremely clear on it. Separating your cash seller, home buyer, and general interests sites is a great first step in making sure that the action that you want your customers to take is clear. PM me if you have any questions about site best practices or marketing for your site! I'm more than happy to give some more input.
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