Thank you BiggerPockets

2 Replies

I have been bingeing on BP for the last 5 days now, I've listened to about 5-8 podcast on BP and on other members podcasts.  I must say thank you all for all the information that has been given to me personally and just buy scavenging through all the threads on here.

I have made numerous threads in the last 3 days so sorry if I'm flooding the forums but you guys are awesome. To the point, I am currently searching for a home using my VA loan and also looking into wholesaling while I'm occupying the future home to build capital to buy and hold. Ok question time for all the wholesalers:

1)What is your most effective method of finding motivated sellers (direct mail, driving for dollars, bandit signs etc)?

2)Is a yellow letter just a letter to potential sellers stating that you buy homes with cash? Or am I missing a step?

3)How many pieces of mail do you send out at one time to your list?

3a)How much do you spend on your direct mail marketing and good starting price for investors just starting out?

4)Do you normally use earnest money to seal in a contract? If so how much?

I think thats everything I have right now, I'm sure I'm missing some points of wholesaling or I omitted things such as ARV and the 70% rule but I think I have a decent understanding of the two.

Thanks in advance!

@Brandon Proctor  I do not have answers to your wholesaling questions, but wanted to say thank you for your service and best of luck in your RE endeavors.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here