Wholesale Tips For Beginners

3 Replies

I noticed on youtube that people are suggesting cold calling leads to find deals. i have experience with cold calling in other things, but absolutely hate doing it and i know most people who get solicited calls hate it too. anyway around this? Im hearing direct mail is another way, but you have to have a big budget. any tips or suggestions?

thanks  

@DQ Beverly both of them works just fine. You should start with the one which you can stick with the longest. How each marketing strategy will perform will depend on the market you are in. Some marketing strategies are more effective in smaller cities vs larger cities.

For example, I am in NW Indiana market, about 30-45 mins outside of Chicago, so in my market, Direct Mail still works very well. We get a large majority of our deals from Direct Mail. Facebook hasn’t been as effective for us so far.

On the other hand, investors in some of the more competitive markets like San Diego, Los Angeles, etc. don’t see good results with Direct Mail. Now that’s not saying that Direct Mail doesn’t work in those markets, but you will have to get more creative with your Direct Mail marketing and have a more targeted list in those markets.

@DQ Beverly Mail can be effective in almost every market. The key is to find a list of motivated sellers that isn't getting used by almost every other investor in your market. Absentee Owners have been popular for a long time, and are apparently still somewhat effective (people are still mailing to them) but they are getting multiple offers to buy their home. It's hard to stand out.

There are some new owner-occupied segments with people who share motivating factors for selling their home.

Seniors with Long-time Ownership: often ready to downsize or transition to assistance.

Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.

Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance. They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.

A List Broker can help you sort out the best list for your area.

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