Virtual Wholesaling, First Campaign.

5 Replies

Hello BP Community, 

Starting my first virtual wholesaling campaign tomorrow after a few months of extensive education, working with numerous mentors and setting up the foundation of my business. I have a few mentors/coaches for various investing aspects, for virtual wholesaling I'm getting 1-on-1 coaching from Alex Joungblood and Brian Haskins, extremely informative, helpful and supportive guys. Posting this to see if any experienced folks have any input, thanks for reading.

I am a music composer primarily, and have my own composing business that has been my full time occupation. Started investing a year ago with flips and rentals in my area, and am still doing both composing and pursuing properties in my area. My wife and I are moving to Colorado Springs next summer to pursue our investing careers full time, so starting to market there now with this business to get setup in the area and have some deals before we're moved. 

Marketing

Postcards - Starting with a list of 4,500 in the hottest zip codes in my market. Splitting the list into quarters and sending out every two weeks as I'll be taking all the calls for now, and want to be sure I can handle all of them. After the full list has been mailed, I will repeat, and add more zip codes. First order of business after getting a deal will be putting funds back into marketing to expand my list, and hire a lead manager to take calls. Using YellowLetter HQ for mailings, Call Rail for phone systems and Podio for CRM.

RVM - I was able to get 1,500 numbers from my list using datazapp (always open to recommendations for other sources!), will be dropping those starting next week. Using Stratics for the drops.

Cold Calling - As I'm still managing my composing business and working on investments here, I will not be spending time cold calling, and am looking for a VA or company to do that. Currently looking at Lead Mining, I've heard good reviews for them.

Google AdWords - I setup my LLC and website, and started an AdWords campaign to hopefully generate some leads on the web.

Boots on the Ground

Working with a great agent I met here on BP, and a contractor who the agent knows very well. We've had multiple phone calls and webinars, and have what I feel is a good system in place, but am always open to input from more experienced folks. I'll take the calls, and make an offer based on the condition of the property represented by the seller, with a clear understanding that my offer is based on their representation of the property, and one of my partners will come in after the contract is signed to confirm the condition. If anything comes up and the rehab budget needs to be adjusted, the purchase price will be renegotiated. Contractor will go in and send me pictures and rehab sheet, agent will show the property to buyers. 

Title

Working on finding a title company that does double closings, preferably dry ones. 

I'll be posting updates as progress is made, and would love to hear any thoughts from people in the BP community.

@Andrew LeBaron thanks so much for your post. I really appreciate your input!

Cold Calling - I agree completely. I’ve outsourced my cold calling to Nicholas Nick and his company, Lead Mining Co. They’re great on the phone and send me leads daily as they come. 

RVM - I have a dedicated RVM number in Call Rail, which also shows up as the caller ID. If someone calls back that number, it goes straight to a brief, pre-recorded message, and they can leave a voicemail. I get notified of every call has it happens. Most of them are hangups, but any voicemails that are left I can listen to right away and call back. 

Postcards - hit mailboxes yesterday, for a few calls already, no solid leads yet but at least I know it’s working. 

If you don’t mind, I’ll send you a DM shortly with a couple of questions?

Thanks again!