Looking for the best combination of marketing for my first wholesaling campaign

9 Replies

Hi everyone,

As you can see I am pretty new.

I am learning about wholesaling, networking, building a website, etc. here in Lynchburg VA. I have been listening to all of the podcasts and I have learned the following things greatly increase your chances of finding deals and seeing them to the end.

  • 1. Have a plan and make goals.
  • 2. Read everything you can on Bigger Pockets.
  • 3. Have good marketing.
  • 4. Hire people that are good at… good marketing.
  • 5. If its worth doing, its worth doing right.
  • 6. Have good marketing.

Basically I have a few grand to get started right and I want to make sure I use those funds as efficiently as possible.

I would like to do direct mail, craigslist ads, adwords, etc.

I am going to set up google voice to receive calls and have prospective sellers leave a message, as my intent will be to have a feel for the property before we have our first conversation.

I have learned to scale your marketing to what you can actually handle. So I am not planning on blasting out and getting way more calls than I can handle and lose potential deals.

I am going to hire someone to help me with the marketing I mentioned who knows what they are doing.

My question is, what do you guys suggest as a good first marketing campaign? Should I just start by using one method? Or should I do some of each?

I don’t want to bite off more than I can chew and waste money.

Any advice on this matter will be much appreciated!

Most of the guys in my market who are having a great deal of success in basic wholesaling are doing a combination of bandit signs and direct ml marketing. 

You can get a great deal on bandit signs at supercheapsigns.com 

I dont think at this point in your business you need a website. Your best and fastest way to get rid of a home once you get it under contract is to know who the local cash buyers are in your area.   You can also go Driving for Dollars to find homes for sale that are usually off market homes for sale.

Good luck!!

Curt Davis, Real Estate Agent in TN (#00321765)
605-310-7929

Curt, I too am looking into wholesaling as one of my investment streams. What is the best way to find find local cash buyers? 

for whatever reason, direct mailing never produced anything for me, and I always thought we'll leave it to Lynchburg to be the exception, best of luck man

@Matthew Skinner I love talk to investors who understand that they need a plan of an attack. Some newbies just jump, and start trying everything under the sun to get one deal. For that reason I want to steer you on a road that will at least minimize your set backs, and increase your exposure. 

Ok, First and foremost I don't care who you talk to on this planet you do need a website. Everything we do in 2015 and forward will be based around the internet. Don't believe me think about this...

If you'er looking for a restaurant in a new city you do what..Google it?

Looking to find the nearest dentist...Google it?

People Google everything these days instead of using the newspaper or that big yellow book. So, for this reason you need to have some form of online presence to be found.

Once that is setup now its time to start putting your business to be found online locally in the market you want to invest in. You want to be found when someone searches for local help for whatever reason in your real estate market. Hey, if you'er not found then the investors who do have websites, and the online presence will be the ones getting those leads.

You can also do the following marketing such as..

Blogging

Video Marketing

SEO

Email Marketing

Networking

Direct mail

Meetups

Workshops

What you can do when it comes to marketing is endless if you know how to put all this into one. Good thing about this is that this form of marketing is not going to cost an arm, and leg, so please take advantage of it to the fullest. 

When I was a real estate agent print ads and direct mail ads did not do so well for me.  I found that online ads and online campaigns worked much better for me.  You need to be committed and have a few grand to spend.  5-7 campaigns consistently to the same people. Usually, ads need to reach at least 5,000 potential customers at a time. Yes, you can your ad investment back on your first sale, and yes, you can get lucky on your first lead or two, but more often than not, that won't happen. The online method worked for me, but I still had to reach out and leave messages and call back the people 5-7 times before I was able to get a few that I did business with. 

Originally posted by @Antonio Coleman :

@Matthew Skinner I love talk to investors who understand that they need a plan of an attack. Some newbies just jump, and start trying everything under the sun to get one deal. For that reason I want to steer you on a road that will at least minimize your set backs, and increase your exposure. 

Ok, First and foremost I don't care who you talk to on this planet you do need a website. Everything we do in 2015 and forward will be based around the internet. Don't believe me think about this...

If you'er looking for a restaurant in a new city you do what..Google it?

Looking to find the nearest dentist...Google it?

People Google everything these days instead of using the newspaper or that big yellow book. So, for this reason you need to have some form of online presence to be found.

Once that is setup now its time to start putting your business to be found online locally in the market you want to invest in. You want to be found when someone searches for local help for whatever reason in your real estate market. Hey, if you'er not found then the investors who do have websites, and the online presence will be the ones getting those leads.

You can also do the following marketing such as..

Blogging

Video Marketing

SEO

Email Marketing

Networking

Direct mail

Meetups

Workshops

What you can do when it comes to marketing is endless if you know how to put all this into one. Good thing about this is that this form of marketing is not going to cost an arm, and leg, so please take advantage of it to the fullest. 

 These are some good points thanks a lot for the info. I had snagged some good domains and I honestly would like to have website information on any direct mail I do send out. 

@Matthew Skinner

Make sure you also do some research on local Real Estate Investing Clubs in your area. Some of them are free some are not but regardless you should be attending one or two of those monthly meetings if you want to network and find other investors. You will have a better opportunity to learn more about marketing to your specific area and there will probably be individuals who will be willing to buy deals from you as long as they are good deals of course! 

@Matthew Skinner I disagree with the idea to have the sellers talk to Google Voice. I just bought a property that the seller said "you were the first one to answer my call with a live person". You can take the call and talk with them and get back to them (do it quickly) but no one should realistically expect a price without seeing or knowing what the inside of a property looks like. You have to think better on your feet and have a few scripts to work through with folks but it's way better IMO than letting them talk to a machine. Especially on a small scale.

@Matthew Skinner , considering joining your local REIA. There you can network with potential partners who can bring deals to you and help you market you own deals (other wholesalers). Second, direct mail. If you're not willing to commit to a campaign (at least 6 months consistently) I would hold off. Direct mail provides an engaging, dynamic, and effective way to market to potential sellers.

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