Okay I'm ready to begin investing. I have no money so I thought wholesaling will be a good start. I know marketing and getting leads is the first step. Would it best to start with bandit signs looking for sellers, since that's the most cost efficient way I can think of?
@Account Closed Hi good to see new people getting involved in this field but my only advice I can give is find a job doing anything save so you could at least start a marketing campaign and grow from there.
@Jeiby V. Okay thank you for the advice! I currently work at mortgage lending company, so I'll save for a while then begin marketing with bandit signs and the mail campaign. Is that a good start?
@Account Closed That's a perfect start I haven't tried bandit signs but I would do that also just to experiment something else make sure to learn your market which ever one you choose to market to.
@Jeiby V. okay thank you! I appreciate he help
Hi Jacoby - and welcome to the world of wholesaling. I highly recommend the Book on Flipping Houses by J Scott who is a big contributor to BiggerPockets and a true real estate pro. Get it here:
We offer a 3-video WHOLESALE ACCELERATOR course free of charge to my colleagues here on BP - so, send me a colleague request here in BiggerPockets (include your EMAIL address) and I'll be happy to send you that course, which includes the PURCHASE AGREEMENT and ASSIGNMENT AGREEMENT that you'll need for wholesaling. (You can see video #1 here).
As far as the marketing goes...
Bandit signs can work. We like direct mail, Google AdWords, and billboards. Some of our guys use bandit signs - they work and they are the lowest cost marketing option you have. Personally, I don't like them in my area - to be honest - and they violate our city ordinance for signage. So, be aware of that - once you put those signs out:
1) People will take them - often other investors or neighbors that don't want plastic signs in their area, and
2) Code enforcement could fine you. Usually, they give you a warning to get them down and if you don't that can fine you for every sign. So understand the rules in your area before you do so you don't get an unhappy surprise.
"The wise make more opportunities than they find." ~ Francis Bacon
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