So I just retired from the military last December so before I get tied down by another job I want to give 100% to real estate but I need help. We bought our first property about a month ago and it's still sitting gutted and empty. More to come on that but I'm here seeking some guidance/a mentor to help me to get starting with wholesaling. Currently I'm working on finding buyers to create a list but how? Any advice?
Hi @Shawndrika Hardie ,
Sounds Great that your given it your all instead of just jumping on the next job. What I do to look for motivated buyer is I go on Zillow and I filter by For Sale by Owner then I look for houses that have been rehabbed and start calling those owners who are fixing and flipping. I have a script I use to call them that I won’t mind sharing with you if you PM me. I also call For Rent by Owners and use a script as well. Hope all works out.
To simplify my post I'm asking how to develop my buyers list? If this isn't the first step what is?
@Joaquin Rosario thanks for the encouragement, I need it. I would love your scripts. PM'g you. Thanks.
@Shawndrika Hardie instead of wholesaling why not get your RE license? Wholesaling js very difficult so just be aware of that.
I would not worry to much about having an extensive buyers list. I’d focus more on your marketing. You’ll want to spend 3-5k a month on marketing and you’ll want to figure out which type of list works best for you to target.
@Caleb Heimsoth OMG, $3-$5K a month! The funny thing is, I'm enrolled in RE school but I was told that having my license could potentially cause issues for my investment business. I'm so torn.
@Shawndrika Hardie well give it a go at wholesaling for 6 months or so and see how you do! It’s a tough business. Good luck!
Hi @Shawndrika Hardie ,
I want to start by thanking you for your service in our Military. It takes a special sort of someone, and we definitely support the troops!
Second, Real Estate is a perfectly viable pursuit and passion. It comes in many varieties and flavors, and almost ALL of them will be enhanced by having a license. When you are licensed, you open up many more avenues of income for yourself. You can buy for this, list for that....if you do not wish to personally take the listing you can legally split commission with someone who will.
You will have access to better tools, information and resources. If "Investing" does not work out or is slow to start, you have a back up career at the ready which of itself can be quite lucrative.
The only downside I have seen to licensing is that not everyone is able to find a Broker off the bat that is supportive of their Investing goals. While under a broker, you must follow that Broker's rules. The only "issues" a license will cause is making you think twice (because of the consequences) before engaging in any questionable practices. Wholesaling is a perfectly legitimate strategy, but there is so much misinformation out there....so many sketchy techniques taught.
There are many ways to build your buyers list. Most free, but all require some effort. Here is a link to a classic thread with many techniques I've actually used. (list itself is separated with half towards the top of the first page, the rest several posts down)
But I must say, @Caleb Heimsoth is absolutely correct. Finding the deal is the hard part. Finding buyers pretty simple.
Hope that helps!
I realize this is a little bit older thread, but I wanted to offer a hand with your wholesaling. You seem like you could be a valuable person to have a few years from now if you stick with it. If you have any questions please feel free to ask. I'm local and am part of a local bp group as well as other REIA meetups and such. Reach out to me anytime you need any thing or need encouragement.
I will second, the buyers are easy to find. The deals are by far the hardest part and take the most time and effort. At least 90% of your time will be marketing to find deals and phone calls. Connect with us locally and I will help you with buyers and mailings and such.
Great thread, and, as a fellow veteran, I wish you a lot of luck Shawndrika. Taylor’s right, and I hope you come out and meet other Golden Triangle investors (potential buyers). To me, the deal is everything. If you had a $50,000 house for $5,000, you don’t need a list—everyone would you told about it would want to buy. A silly scenario but it makes the point about the importance of deals.
Contact the folks described by @joaquin rosario and think of any other place that might house potential investors. Most importantly, find out what they’re looking for (type of house, location, etc.) take good notes and then give it the personal touch when marketing something that matches their criteria.
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