Homeowner · Katy · Member since 2014 · 88 posts · 21 votes
Hey BP family after listening to a few Podcast I'm starting to rethink instead of buy and hold using the little cash I have I think wholesaling might be the better choice.
Was wondering What type of monthly budget I should expect to spend on a direct mail campaign ?
What are the best avenues to find motivated sellers ?
Best method to building a buyers list?
Is Listsource a good start point?
What is a realistic time line to maybe closing first deal ?
I'm sure everyone have beat this subject to death, if anyone can provide helpful links to previous post on this subject that would be great !
This recent thread might be a good place to start:- http://www.biggerpockets.com/forums/93/topics/174995-wholesale-contract-outs?page=1
You can bet some of those strong responses could equally be directed at you if you are more interested in finding Sellers than you are in finding your Buyers List. So I will say to you what I said to Keith: Find your Buyers, or Fund your buys! Cheers...
@Donald Placide the wholesaling forum has some "Sticky" posts at the top that have great info. Go to the Forums tab above and pick Forum categories to go directly to the Wholesaling forum.
Direct mail works but it can take a lot of money to get your first deal. It is an expensive way to market. If you are good at web marketing a website can generate leads, Tax default properties, burnt out landlords (think rent court), vacant houses, all are great ways to find deals. There are many forum and blog posts on finding deals.
I figure on average it takes 6 months to get your first deal. Some will do it in a month. Some will take two years to get their first deal.
Hi Donald I am Keith that @Brent Coombs mentioned. Like yourself I am new to investing also and asking questions when they arise. I just spent most of today going through my local property records looking for absentee owners and i was surprised to find 150 within a 1 mile radius of my home. I am planning on starting with my backyard for now, if I can get this list close to 1000 in the next few days that is my starting point. I will be sending out either letters or postcards in weekly intervals first at 1/4 of my list each week until I've run through it then wait a couple of weeks then start over from the beginning. Like its been said before 4-6 months is average before there are any noticeable results but might get lucky on the first go around.
And while I'm doing all this I'm working on finding buyers and funding.
@Donald Placide My advice would be to just start networking with people! Get active on the forums and blogs. There is a lot of knowledge and content at your finger tips...
@Donald Placide My advice would be to just start networking with people! Get active on the forums and blogs. There is a lot of knowledge and content at your finger tips...
Good Luck
Thanks
Antonio
Thanks for the insight bro ...when you first started how much per month were you spending ?