Hi all,
I'm in the process of putting together direct mail. First I've reached out to my buyers list and got a decent expectation of what people are looking for..... Mostly BRRRR opportunities with the purchase price in the 150-250K range.
With that, What kind of motivated seller should I be looking for to find the kind of deal described above? I'm really struggling with this because there are some many possibilities (foreclosures, divorces, estate, ect...) to choose from. Which group of sellers might make sense to market to as a beginning wholesaler?
Thanks
Arlington, TX · Member since 2018 · 82 posts · 47 votes
6y
I would recommend checking out @Ryan Dossey's page/podcast. This guy is killing it in the wholesaling game at a young age. From what I've listened to his recommendation is to pick one niche and master it before branching out. You need to optimize your lead finding in that niche to get your costs down per lead. Once you have a consistent flow of deal coming from that stream, then look at branching out into other niches.
I applaud you for taking action as a new wholesaler and encourage you to continue to foster relationships with your buyers since they are your valued customers.
As for finding motivated sellers, there is no specific group that has to be targeted to produce good seller leads. Yes, there are many avenues as you have mentioned, and they all can produce positive results. You are simply seeking to reach people who are in a motivated situation and therefore more willing to work with you. If there are time and/or resource roadblocks, considering targeting an audience that you are already familiar with such as landlords looking to sell.
Fill free to reach out to me anytime for other suggestions, and good luck!
Real Estate Broker · Austin, TX · Member since 2016 · 834 posts · 449 votes
6y
Stay within driving distance of your home. You will always lose money trying to rehab out of state properties without a 100% trustworthy manager on site.
New to Real Estate · PLANO, TX · Member since 2019 · 29 posts · 7 votes
6y
Hey @Austin Bright, I think I read somewhere to be a successful wholesaler you have to have at least 3 different strategies/targets... so all of the ones you mention are good, pre foreclosures, probates, divorce; repeat at least 3 times your campaigns... good look! When you find something let me know, I mainly focus in Tarrant County...
Arlington, TX · Member since 2018 · 82 posts · 47 votes
6y
I would recommend checking out @Ryan Dossey's page/podcast. This guy is killing it in the wholesaling game at a young age. From what I've listened to his recommendation is to pick one niche and master it before branching out. You need to optimize your lead finding in that niche to get your costs down per lead. Once you have a consistent flow of deal coming from that stream, then look at branching out into other niches.
@Alex Nelson question, is there a way I could post my wholesale deals on marketplace to see if any buyers would like to purchase it? And if so, anyone knows how to do it? Also should I wait to contact my buyers after the July 4th weekend or are people still working and finding deals?