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Wholesaling

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Malik Fearon
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New to wholesaling would like some advice

Malik Fearon
Posted Jul 23 2022, 10:24

Hello, My name is Malik I've been learning about wholesaling and honestly I have been scared but that's changing as of today. What's the best software to use to find leads?

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Jonathan Greene#2 Starting Out Contributor
  • Specialist
  • Mendham, NJ
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Jonathan Greene#2 Starting Out Contributor
  • Specialist
  • Mendham, NJ
Replied Jul 23 2022, 11:30

Why are you interested in wholesaling? If it is to make it a stepping stone of cash to start investing on your own, you really want to identify the pitfalls in there because only a very small percentage will get there. The best anything you can use for leads if you don't have a budget and you want to wholesale is still driving and walking for dollars and then spending a little bit to skip trace your top properties.

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Malik Fearon
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Malik Fearon
Replied Jul 23 2022, 13:15

Thank you for your reply, but yes I want to wholesale as a stepping stone to begin invest in my own rental properties. I understand the pitfalls and roadblocks that may occur and truly I’m not so concerned about that anymore, I have faith in myself and the lord I serve and if it’s supposed to happen he’ll make a way. But I do have some money I can invest from my job. I have the PropStream software, I intend on doing driving for dollars on the weekends now that I have the time off. I’m fully invested into this 

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Saaj Patel
  • Investor
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Saaj Patel
  • Investor
Replied Jul 28 2022, 11:26

I will be first on your buyer's list. PM me

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Jerryll Noorden#2 Marketing Your Property Contributor
  • Flipper/Rehabber
  • Wilton, CT
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Jerryll Noorden#2 Marketing Your Property Contributor
  • Flipper/Rehabber
  • Wilton, CT
Replied Jul 30 2022, 07:17
Quote from @Malik Fearon:

Hello, My name is Malik I've been learning about wholesaling and honestly I have been scared but that's changing as of today. What's the best software to use to find leads?


 You don't use software to find motivated seller leads. It is all a scam. People are so obsessed with finding leads that they believe everything the masses say.

There is a difference between people that could potentially sell their house (no mention here of any discount mind you) and people that are so motivated to sell they are willing to accept an offer below market value.

No software can produce the latter. This is not an opinion, this is mathematical fact.

Today someone is not motivated and tomorrow for what ever reason they are.

The ONLY way to reliably get motivated seller leads is when they find you, and this is the ABSOLUTE ONLY WAY!

You need to create a website, focus on credibility and value, then work on SEO, Youtube marketing, and facebook marketing. PPC is an option but the quality is low most instances. 

You need to realize this... If so many people do the exact same strategies everyone is doing, yet so many people are not successful, isn't it obvious that what ever they are doing is not working? If you are just starting out I advise you to start strong! Website, and then attract actually motivated sellers.

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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied Jul 30 2022, 09:53

Unpopular opinion: work for a big box wholesaler like net worth or new western and learn the ropes. Wholesale game isn't easy and takes knowing how to orchestrate a deal with the seller, buyer, and title company. Be an expert. If you were in Texas I'd have you move the deals I have right now. 

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Wale Lawal
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
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Wale Lawal
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
Replied Aug 1 2022, 07:16

@Malik Fearon

Finding wholesale real estate deals has become one of the most popular ways for new investors to get their feet wet. Wholesaling real estate is the act of buying a property, or getting it under contract, and then selling or assigning it as quickly as possible. What makes it so attractive is its relatively low capital requirements. Unlike with a rehab or buy and hold purchase, no down payment or closing cost money is needed. This isn’t to say that you won’t need upfront funds, but they are much less than with any other purchase you will make. Like everything else you do in real estate, the key is to find the right deal, and recognize it when it comes your way. Regardless of how well you are familiar with wholesaling, here are a few tips to help you find more deals:

Boots on the Ground Lead Generation Techniques

  1. Driving for Dollars & Door Knocking
  2. Bandit Signs
  3. Community Bulletin Boards
  4. Leave Flyers at Parking Lots
  5. Real Estate Investment Clubs

Newspaper Sections Containing Off-Market Properties

  1. Types of Required Legal Notices That Point To Immediately Motivated Sellers
  2. More Types of Ads in General Newspapers With Likely Motivated Sellers

Free Resources for Distressed Property Deals from the Government

  1. City and County Tax Deed Auctions
  2. Liens
  3. Notices of Abatement
  4. City and County Inspectors
  5. Condemned Properties
  6. Fire Departments

Effective Low Cost Promotional Advertising Ideas

  1. Newspaper Advertisements
  2. Promotional Items
  3. Magnetic Car Signs
  4. Grocery Receipts
  5. Sign Spinners
  6. Door Hangers
  7. Flyers

High Dollar Advertising Ideas That Still Work

  1. Television Advertising
  2. Radio Advertising
  3. Billboards
  4. Vehicle Wraps

Read this article for more information https://www.reikit.com/house-f...

All the best!