@Jeffrey Osborne the market is saturated with wholesalers that don't have a clue what they are doing. You stand out by being good at what you do and being ethical at all times and all ways.
I wouldn't say so. I think you just need to focus on deal flow and lead generation. Drive for dollars, look up NODs. Learn as much as you can and always look to get better and better. Make it happen!!!
Unless you're in a one-light town, don't pay attention to saturation, it's a metric that's not worth the headache and too vague/subjective to properly track.
Real Estate is one of the only areas where professionals not only practice insider trading but actively encourage it. You need to go network with anyone handling product in your market and become their best asset. These are the people that will hear about listings long before you do and if you take care of your brokers and lenders they'll take care of you.
Thanks for the feedback so far! Honestly I’m just starting out so I’m sure I really don’t have a clue yet. Just starting up I have a plan that I can direct mail market ( budget 850 for four months than evaluate) plus starting a website. During this time frame I plan networking and learning the business. Goal is at least one deal.
@ Ned Carey for a new investor, as far as I know there’s no real way to learn until I jump in and try to make a deal.
@Jeffrey Osborne Have you done any mail campaigns? If you work with a list broker, they can suggest some good list alternatives.
If you are in a crowded market,)which based on your question, I would guess that you are), it is quite possible that all the Absentee Owners are all getting multiple offers. You might consider a list of Owners with Low Financial Stability Scores (FSS) or Seniors with Long-Time Ownership.
as far as I know there’s no real way to learn until I jump in and try to make a deal.
@Jeffrey Osborne sure there is. Learn your market by visiting and evaluating lots of properties. Network to build the contacts you will need. Visit other investors deals and pick their brain about what the numbers were and what various repairs cost.
If you "just jump in" you are likely to be just another new wholesaler that sends out a deal that is overpriced, with an unrealistic ARV and an underestimated amount for repairs. I thought that was what you were trying to avoid.
I've heard stories at my local investor meet ups where sellers hold on to the marketing postcards for months or years and then pull the trigger when they are ready. Just make sure your marketing is on point and people have an awareness of what you do, make every effort to let anyone you encounter know what you're involved with. Homeowners' circumstances change all the time, that's where a 15 month old piece of direct marketing springs up in their kitchen drawer. So saturated or not, be consistent with marketing.
@Jeffrey Osborne instead of focusing on other investors you should be focused on your business. Keep learning and getting better at your craft. My goal is to get better every day. I feel like this market will only help my company get ready for when the market corrects. When will that happen? Nobody know but what I do know is that I will be ready. See you at the top my friend!!!