Hi guys. I'm looking to do a bit of wholesaling to supplement/expand my 10-door rental portfolio. I understand all methods are not effective in all areas, plus none of us have unlimited budget or time, so I'd like to maximize both. My areas of focus would be the entire metro area (Franklin, St. Charles, Jefferson, St. Louis County/City, as well as close Illinois counties.
First, in regards to yellow letters/postcards/etc, how many mailers are you sending out to get an accepted purchase agreement? I was conversing with someone in Cleveland who was getting 1 house per 1500-2000 mailers, which I think is pretty good (and clearing $10k-$40k per deal). Then I read that California is 8000-12000 mailers per accepted agreement!
The other question is bandit signs. I understand some cities will put you on auto-dialer and make fine threats, and that the police assist in removing signs, so Friday evening to Sunday evening still isn't safe. Are there any areas that seem to be ok? For what it's worth, I live in unincorporated Franklin County (basically squeezed between Pacific and Gray Summit) and I see them all the time around here.
Thanks for the feedback guys!
There are other items available. Don't forget community Bulletin Boards, Craigs list, Facebook and other social media. Focus on the free before spending your money. Rural King has a Bulletin Board they clean it every Sunday. If you are not getting discounted printing for your flyers and signs at Office Depot or Office Max let me know.
Thanks for the feedback George. I agree, grassroots is critical to the overall plan. I'm slowly working on expanding the social media aspect.
@Matt Bowler I have 70+ pre-qualified investors who are looking for wholesale deals as buy and holds. If you do come across a solid deal and are in need of a buyer, please reach out. Best of luck!