How to begin wholesaling as a beginner

Question

Hello, I am new to real estate investing and I am currently beginning to look for deals. I’m interested in advice about how to find deals. What kind of platforms or methods are successful in finding deals as a wholesaler?

Jill DeWit · Answer

@Joseph Corria hello and welcome to BiggerPockets!  Glad you are here!This is my 2 cents, Joseph, but it has proven to be extremely successful to me.  Instead of "driving for dollars" or "bird dogging" to find deals, what I do is have the DEALS FIND ME.How so?I simply mail out offers to owners.  And I'm not talking about "fake eviction letters" or "postcards" or things like that.  I'm talking about letters sent to owners with an actual offer, not an introduction or a prospecting letter.  And I send out THOUSANDS of these offers.People will respond.  Some will call you every name in the book, some will say, "not now," and some will say, "wow, I'm glad you found me!" and will reply to your offer letter by either calling you or signing the actual offer and returning it back to you ready to move forward.That's how I find the "motivated sellers" ready to deal.Then, once I received hundreds of these offers back, I then examine the property specifics and work out the numbers to see if the deal is good or not based on the numbers.Also, your offer letter will state exactly how much you're willing to offer to the owner so you are already in a position to make money should they respond...and some of them will.  I can assure you of that.Happy to help further. PM me at your convenience.In any case, hope this helps and welcome once again to BiggerPockets.  I wish you the best in your real estate investing career!

Chrissy Parsons · Answer

@Joseph Corria, I agree with Jill that mail is a great way to find the off-market deals. You can work with a mailing list broker to come up with some effective lists for your area. Be sure that any list that you get has been put through the Post Office's National Change of Address (NCOA). You don't want to waste postage on old addresses if you can help it.

There are several printing and mailing companies that offer canned letters and post card templates for investors. You can also look at creating your own letter to personalize.  Here's some ideas if you are looking at Seniors with Long-Time Ownership (ready for downsizing or transition to assistance.) biggerpockets.com/blogs/10944/74462-you-want-to-buy-their-home-but-how-do-you-get-the-attention-of-senior?