Best strategy for the budget-conscious newbie
Hi all,
I haven't met many of you yet, but my name is John and right now I'm doing my homework and building a network so I can get involved in the St. Louis market. Obviously, there's a lot of fluff and guru rhetoric out there about wholesaling so I'm hoping some experienced folks will share their insight and advice.
I'm considering starting one of two ways. Which will have the best ROI?
1. Invest in direct mail marketing with a month budget of $350. From what I've learned on BP, I should expect to find a deal within 6 months. Although I can part with $350/mo, I'm apprehensive to jump in because I don't want to loose this money.
2. Drive around on weekends and evenings, look for For Rent signs and call owners to find one who wants to sell. I expect this will be slow going but the monetary risk is lower. I'm attracted to the idea finding my first deal this way and using the proceeds to fund strategy #1.
Penny for your thoughts?