$Driving for Dollars$

[Chris Pontello]

Happy Monday BiggerPocketers! 

So, I am a completely new wholesaler and I am having trouble figuring out how this works and what the correct course of action is when finding these properties. The "what to do next"....

As a beginner you want to "market" the cheapest way possible so you don't out-market your funds and can no longer keep your name from getting in front of motivated sellers eyes. At least for me, that is what I am trying to do as my funds to sustain marketing are minimal. To some they may not find this fun, but for me I get more excited than a kid in a candy store driving around finding abandoned and run-down properties that I think a savy investor would love to pick up! Maybe because to us, these houses are our candy, adult candy... I have lists of properties in multiple towns, I have gone up and peaked through windows, circled the yards.. I have only knocked on the door of a couple houses (surprise, no ones home) and have not asked any neighbors about the property but as my experience grows I will be more determined to door knock more often. So this brings me into what I am trying to ask of all my fellow BP'ers. 

I have looked up the homes on the county website to find who owns it, and what the tax history and owners address is. I run the comps from all the surrounding homes and recently sold prices were for the similar type of house. I run what the ARV will be and determine what my margin could be depending on what I can get the homeowner to agree on. So, you can say I do my homework, and am fully prepared to get on the phone with the homeowner to discuss their property. But here is where I hit that wall....

Do you send a letter first, or just make the call? (many sales books I have read always say: Pick up the phone, and start dialing!) To which I would have no problem with, and no fear. But, (perhaps this is just a hidden excuse I am making up because i am a beginner?) I don't know how to contact this homeowner if I don't truly know its an absentee owner, or they are motivated to sell or how much equity they could get from the home. It's hard to control a conversation, or sales pitch, when you don't know what type of prospect they are.... this includes the phone call, or the initial letter to make the cold call, warm.. 

I do not have access to MLS, and I have not found someone willing to allow me access or look up properties for me just yet. If anyone has some insight or advice on the best course of action, how to find this information, or just simply... to call anyway and casually direct the conversation into about the home and if they would possibly be considering to sell and slowly turn the call into a sales pitch they didn't see coming.. it would be an incredible help to me!!

Books, videos, scripts, blogs, podcasts, ect. recommendations are always appreciated!

Thank you, 

CP