Wholesaling Budget & Details Analysis

4 Replies

First off let me say thank you to all the members of BP.

A big thank you, I have especially learned from @Sharon Vornholt  @michaelq @aaronmazzrillo @jerrypuckett

I want to be sure my advertising $$ don't go to waist.

Budget:  $1200/month

Plan:  Simple Yellow Letter w/postcard follow up 1x per month.  $1 per mailing = 60 mailings per day x 20 days per month

Area:  Orange County, Riverside, San Bernardino, CA

Contacts:  Out of state absentee owners and probates.

I've had successful wholesalers flat out tell me I'm wasting my money doing direct mail in my area.  On the flip side I know people like @aaronmazzrillo that are successful in this area.  It can be confusing.

Questions:

Is my budget large enough?

Should I be able to land a deal within 6 months?

Is there anything you would change?

If a successful wholesaler wants to partner up for a share of the profits to increase the success rate of the campaign, I would definitely be open to that.

::inserts random popcorn eating .gif::

Nice post, I'm looking forward to reading the responses.  Stick with it. I listened to Podcast 12 again tonight (Sharon's), and her metrics regarding repeated touches are eye-opening.

How many months have you budgeted for?

Good luck man, I'll be following.

Budgeted for 6 months so far but would like to extend out indefinitely.  I'm not scared of spending the money, I'm scared of spending it wrong.  I would spend $10k month in marketing if a system was working.

Yeah Sharon's and the others metrics are invaluable, really drives home the point of multiple contacts.

Little bit of luck and some BP help goes a long ways, thanks.

Any updates on how your budget and marketing plan worked out so far?

@Thomas Flanagan  I know i started out with a much smaller budget than that and got started very quickly. I am not sure what lists you are mailing or if you are doing any bandit signs but I know, around here, 90% of my deals have come from those signs. 

I think your budget will be great and you should see calls and progress quickly, I cannot garuntee that you will get deals form that but, it you have a 7% call back from the almost 2000 letters you can send with that money and a 25% deal rate off of those calls, you will have a deal very quickly.

Good luck. keep us updated!

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