Humble, TX 路 Member since 2018 路 28 posts 路 8 votes
Hi all,
My name is Brandie Lyons and I'm from the Houston, TX area. I am starting my journey in wholesaling and looking for ways to locate potential sellers. I know there are plenty Houstonians looking to sell their homes after Hurricane Harvey. I have mailed out some letters and even did Drive for Dollars. I am finding most properties that would be great for my buyer are already listed on the MLS. However, a lot of the properties are extremely overpriced considering the damage to the homes. I don't want to make signs (they're literally on every street corner in Houston and the surrounding areas). I am not looking to get rich quick (only hard work and lots of hustle gets you there). If anyone could provide advise or any help I would greatly appreciate it.
Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
8y
@Brandie Lyons don鈥檛 let the 9-5 get in the waynof your 5-9. Get a list together, find a wuiet place furingnyour lunch hour. Take 10 minutes to eat and call for the other 50. EVERYDAY and double time on the weekend. If your not hustling believe me there is someone in your market that is馃挭馃従馃挭馃従馃挭馃従 STAYHUNGRY
Rental Property Investor 路 Atlanta, GA 路 Member since 2014 路 807 posts 路 274 votes
8y
@Brandie Lyons if you don't want to do the regular marketing others are doing, have you considered leveraging your personal network both physical and online? For example, tell everyone you know you are looking to buy properties in the area for cash. Basically look for referrals and be systemic about looking for referrals.
Contractor 路 Albany, GA 路 Member since 2017 路 57 posts 路 33 votes
8y
As a wholesaler, I reverse the process meaning I focus on my buyers first. I find what they want and then send them to the property. Just a way I have been taught, that, in my opinion, mitigates the risk involved in getting a property under contract since the buyer is already on the hook. Good luck and don't be afraid to virtual wholesale m, meaning, don't feel obligated to only do deals in your area. You can wholesale anywhere.
@Brandie Lyons if you don't want to do the regular marketing others are doing, have you considered leveraging your personal network both physical and online? For example, tell everyone you know you are looking to buy properties in the area for cash. Basically look for referrals and be systemic about looking for referrals.
As a wholesaler, I reverse the process meaning I focus on my buyers first. I find what they want and then send them to the property. Just a way I have been taught, that, in my opinion, mitigates the risk involved in getting a property under contract since the buyer is already on the hook. Good luck and don't be afraid to virtual wholesale m, meaning, don't feel obligated to only do deals in your area. You can wholesale anywhere.
Rental Property Investor 路 Durham, NC 路 Member since 2016 路 7k+ posts 路 7k+ votes
8y
Brandie Lyons how many letters have you sent? You realistically need to mail around 5000 letters to the same people multiple times (5-7 times) and can expect about a 1-2 percent deal (meaning you actually wholesale something).
Brandie Lyons how many letters have you sent? You realistically need to mail around 5000 letters to the same people multiple times (5-7 times) and can expect about a 1-2 percent deal (meaning you actually wholesale something).
Humble, TX 路 Member since 2018 路 28 posts 路 8 votes
8y
I've sent over 100 letters to different homes owners in different financial situations. I will also send a postcard to those I have already sent letters to.
Rental Property Investor 路 Durham, NC 路 Member since 2016 路 7k+ posts 路 7k+ votes
8y
Brandie Lyons you鈥檒l likely need to up that into the thousands. Listen to some podcasts on wholesaling and they usually say they send several thousand at a time.
Brandie Lyons you鈥檒l likely need to up that into the thousands. Listen to some podcasts on wholesaling and they usually say they send several thousand at a time.
Humble, TX 路 Member since 2018 路 28 posts 路 8 votes
8y
As I find and research the properties, I draw the letters up and print them out on the spot. I will increase the number of letters/postcards I send out. Thank you.
Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
8y
@Brandie Lyons if your not a realtor. Find a realtor that can put you on an email drip through MLS for Sold/Expired listings and cold call those sellers. Let the realtor know that you will pay him/her a finders fee of x dollars for any deal that you close. You will need to skip trace the phone numbers once you get the addresses. Been verified, TLO, SKip Genie etc... are good tools you can use for skip tracing. Also look at your local court records site and see if you can get records of recent evictions. Call those owners as well. For rent on trulia/zillow etc...will provide decent leads as well.
Cold calling is the way.....Not mail. You need to speak to motivated sellers directly. Everyone is sending mail. do be average. All the best to you. I do deals in the Mid-West and I live in NY. So you can sell property anywhere in the country.
Contractor 路 Albany, GA 路 Member since 2017 路 57 posts 路 33 votes
8y
Yes, you must become a master over the phone. Email and post cards only get you so far. You must identify and empathize with whatever the problem is for the seller that is motivating them to sell.
@Brandie Lyons if your not a realtor. Find a realtor that can put you on an email drip through MLS for Sold/Expired listings and cold call those sellers. Let the realtor know that you will pay him/her a finders fee of x dollars for any deal that you close. You will need to skip trace the phone numbers once you get the addresses. Been verified, TLO, SKip Genie etc... are good tools you can use for skip tracing. Also look at your local court records site and see if you can get records of recent evictions. Call those owners as well. For rent on trulia/zillow etc...will provide decent leads as well.
Cold calling is the way.....Not mail. You need to speak to motivated sellers directly. Everyone is sending mail. do be average. All the best to you. I do deals in the Mid-West and I live in NY. So you can sell property anywhere in the country.
Humble, TX 路 Member since 2018 路 28 posts 路 8 votes
8y
Thank you so much Shawn. I will definitely reach out to a realtor. I was concerned about cold calling since I work full -time and do not get home until after 6 pm. Saturdays and Sundays maybe the best times for me to cold call.
Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
8y
@Brandie Lyons don鈥檛 let the 9-5 get in the waynof your 5-9. Get a list together, find a wuiet place furingnyour lunch hour. Take 10 minutes to eat and call for the other 50. EVERYDAY and double time on the weekend. If your not hustling believe me there is someone in your market that is馃挭馃従馃挭馃従馃挭馃従 STAYHUNGRY
As a wholesaler, I reverse the process meaning I focus on my buyers first. I find what they want and then send them to the property. Just a way I have been taught, that, in my opinion, mitigates the risk involved in getting a property under contract since the buyer is already on the hook. Good luck and don't be afraid to virtual wholesale m, meaning, don't feel obligated to only do deals in your area. You can wholesale anywhere.
Can't go wrong with this strategy either. The only issue I've found with this is that a lot of times buyers don't know what they want and so even when you've found what they've said they wanted, they don't execute for whatever reason. It's definitely helpful to know what your buyers want but you've got to look at the market as well.
I view this as a chicken and egg problem. In current market conditions with it being a Seller's Market at least in the markets I operate in, finding the deals themselves is the harder part of the equation many times. If she works through her network, she has an increased probability of finding win/win situations that she can capitalize on and find buyers for to complete her wholesale transaction.
Contractor 路 Albany, GA 路 Member since 2017 路 57 posts 路 33 votes
8y
@Marvin McTaw Yes, sometimes that happens, however, since I also get a POFs and/or Pre Qual letters for my retail buyers, it usually works the way we do it. We create urgency, scarcity and opportunity with our deals, so we are less likely to get flaky buyers.
As a wholesaler, I reverse the process meaning I focus on my buyers first. I find what they want and then send them to the property. Just a way I have been taught, that, in my opinion, mitigates the risk involved in getting a property under contract since the buyer is already on the hook. Good luck and don't be afraid to virtual wholesale m, meaning, don't feel obligated to only do deals in your area. You can wholesale anywhere.
Sorry to be harsh .. but why am I spending my time talking to you when you don鈥檛 have anything to sell me?
Contractor 路 Albany, GA 路 Member since 2017 路 57 posts 路 33 votes
8y
@Chris Purcell You would be the first to say that #1. #2 If you think I'm wasting your time finding you exactly what you want and only sending it to you instead of some huge list of other investors, then by all means, talk to someone else. #3 Our system works damn fine for us and our buyers, who are over joyed when we call with a specific property.
Real Estate Investor 路 Lake Jackson, TX 路 Member since 2016 路 149 posts 路 49 votes
8y
Brandie,
I honestly believe wholesaling is a great way to start. I've been a part time wholesaler for a little over 2 years now, and my one piece of advise is be consistent with your marketing. It may take you 5 touches before you get a call back. Also, having an agent on your team would be helpful to run comps and even make offers on MLS properties. Good luck to you and feel free to reach out if you'd like to connect!
Humble, TX 路 Member since 2018 路 22 posts 路 7 votes
8y
Brandie Lyons I am also near starting my wholesaling adventures. I live in the Humble/Atascocita area. I am talking with other members of BP that are in our area about starting a monthly meeting here in Humble. Let me know if you would be interested. Would be a great way to exchange ideas and find out what is working best.
Brandie Lyons I am also near starting my wholesaling adventures. I live in the Humble/Atascocita area. I am talking with other members of BP that are in our area about starting a monthly meeting here in Humble. Let me know if you would be interested. Would be a great way to exchange ideas and find out what is working best.