I'm trying to plan out my goals for 2015. I'm thinking about getting into wholesaling first. I know I've listening to several podcast lately and everyone is doing it. I'm just starting out and it seems like the simplest way to start. I don't have alot of money to invest in a flip or even a rental so it seems like the way to go. My question is, what is my first step? I've heard marketing first from some of the older podcast. I haven't heard anything about setting up a company name first. Do I need to create a company first? Do I need a website first? I've even heard to line up a buyers list first.
Marketing is where I would start. You can use Craig's List and other sites. I would set up a LLC (have your attorney advise) to protect yourself as well as looking professional to the sellers you work with.
You dont need a company or even a website first as you are just looking for cash buyers.
Check this out, you might get a few starting pointers.
There's many different options to look at when starting. I personally just sent out yellow letters and learned on the fly. I had no idea what to say to motivated sellers or what contracts needed to be signed or any of that. I found someone to mentor me and learned a great deal from him. No matter how you start out, be persistent and always be eager to learn more.
I would say to max out one marketing channel and go from there. You will start to gain more confidence naturally and build yourself up. Do whatever you have to do to get that first check. It's a great feeling.
The first thing you need to do is develop a list and a mail piece. This list should be of absentee owners and preferably owners of vacant homes. You will want to craft a letter that causes people to call you. This is the name of the game. If your phone is not ringing then you are not making any money.https://danielhedges3636.wordpress.com/
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