Real Estate Wholesale

12 Replies

I don't think there is anything you technically need to start, I don't believe you even need an LLC to get started you could just work as a sole proprietor when starting out. I think a great first step when getting started is driving for dollars! It helps you get to know the area and creates leads at the same time.

Great question hey @Wes Short just have a question about driving for dollars. How does the process works in simple terms, like if you were to drive for dollars and come up with about 50 leads or so do you just go ahead and send off the mailings to the address or is the a process in between that I am missing?

@Joshua Van Dyke from a legal perspective there i don't know of anything you need to do. As said you don't "need" an LLC. The main thing is to know what and how to do it.

@Jay Barley driving for dollars can mean a lot of things. It is about being out in the neighborhood and keeping your eyes and ears peeled. Sometimes you will see a vacant house and may want to track down the owner. Maybe you see a FSBO sign. Maybe someone sees you walking around and you get to talking to them and they tell you something that can lead to a deal. What you do next depends on what kind of lead it is.

Personally if I see a potential lead that way I would rather call then send a letter. You don't know if the letter reached them or if they read it. If you call you know if you get the right person or not.

Thanks @Ned Carey great info I am an Hvac Tech looking to get involved in the real estate investing and I drive a lot everyday of the week so I will now take a notepad and jot down anything I see when enroute. I always see lots of vacants.

@Jay Barley As for driving for dollars, try and print a good map and pregame the area you want to drive around. I’m in the process right now of researching automated ways of doing this but for now this is the best way. If you have no idea of where you even want to start, go online to Redfin, search FSBOs in your county or zip code and start there. This will give you a small idea of where some leads might be. Start marking the streets you’ve driven, addresses of potential leads, etc. even mark down where you’d put up bandit signs. I’m really trying to nail this form of marketing down so I’m not wasting time or money. So, if anyone else has some better ways let me know.
@Joshua Van Dyke Now looking at my reply it was kind of vague. PM me and I’ll send you an action plan. Forming an LLC these days IMO is a great idea if you have the funds. In the public eye you are viewed as more legit as opposed to others. Especially when someone is already skeptical of the business.