I would like to start Wholesaling...

18 Replies

Hello all! I have been taking in all types of info about wholesaling and I am very interested in starting to send letters out to some property owners. I have to admit I am a bit nervous. If you have experience and been successful with sending letters out I would love to hear what your most popular ideas as far as mailing have been. Im in Fredericksburg VA and I have been driving around and have found a few properties I would love to target. Thanks In advance!

I agree, I am also in the same position trying to get the first marketing piece out. What system are you using to send your yellow letters, and where are you pulling your lists? I dont know if your working on a budget, but I am trying to do a zero cost, budget. Basically building it myself. Sure its hard and time consuming but, this way i feel i have a better position of control and understanding of the entire process. 

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@Tavis Jones I am planning on just sending them out individually as I find properties which I think may need help. Just going to make sure I keep a log of what I send and when. I am planning on just using blank post cards and hand writing to make it a little more personal hoping to get a quick response. Havent found a way to pull lists... Just jotting down addresses as I drive through different neighborhoods. Are you pulling lists? If so from where?

Most counties will freely send you database dumps, as well as fact sheets on properties. If you have addresses just email them the list and they will send you the fact sheet, otherwise jump on GIS, and country/city tax records and grab the data yourself. Zillow has links to most public records under the tax section, and Google can help you find the rest.

It's more valuable to understand your core asset you want vs blasting the town pointlessly. Once you understand your core market, you can find properties more quickly and get more deals vs wasting time with callers that have something you don't want.

Keep in mind, saving pennies or dollars is a bit pointless when a single deal is worth tens of thousands, or hundreds of thousands of dollars. Think ROI not saving pennies!

I'm also interested in this.  Is there any specific information that should be included in a yellow letter besides contact info?

Is it worthwhile to indicate you "pay cash" in the letter?  I have several properties in my local neighborhood and neighborhoods I'm familiar with I'd like to send to but I don't have the cash or a buyer.  I presume if I get a good price I can find a buyer pretty easily but also don't want to mislead on the yellow letter.

Any suggestions from those who do send letters?

@David Affonso I have yet to send my letters out but I will let you know that I am planning on doing no cash myself...  But I do have a couple of buyers in the area that I have connected with and are interested in hearing what properties I get a response on. 

My Advice (even as a newbie) is to reach out to cash buyers and Investors in your area and just shoot them an email introducing yourself as a Newbie to the wholesale business and asking if it would be ok to add them to your list of buyers so you can share the properties you get. Once they say yes (because they will) be sure to ask if they have an area of preference and what their pay range is per property. Make sure to keep a note of all of this so when you are ready to make a deal you know ahead of time which property is ideal for which buyer.

Good Luck! 

See you at the top! 

Hi @Tania Vasquez , I am also new to wholesaling and have just started a campaign in my area.  I am focusing on probate cases and have sent out a direct mail campaign to leads I was able to find.  I agree with @Loch Mett...Just Do It.  I am learning as I go, but am excited to see what happens next.  Keep us updated on how it progresses....Best of luck!

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If I could add to the conversation. Talk to realtors that have worked with investors on a regular basis. Its something I'm learning right now. They can also help you find potential leads in areas your looking for.

Hello to all. I started my direct mailings in Febuary. I haven't gotten a deal yet but I will share what I've learned so far. I started getting someone to write them by hand because I was trying to save money but I was only able to get out 10 per week. I quickly realized this wasn't enough. I started using Qcards cause I thought it wasn't that expensive. But I just began using yellowletterscomplete because they had a better bulk price which is key. So I definitely understand trying to not spend alot of money but the goal is to get a deal and being able to reach more people increases the chances of that happening. I drive for dollars and I also use the GIS to mail to absentee owners instead buying list