Raleigh/ NC triangle Wholesaling newbie searching for Mentor!

Wholesaling
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Raleigh/ NC triangle Wholesaling newbie searching for Mentor!

Wes Evans
Investor · Raleigh NC · Member since 2019 · 25 posts · 13 votes

I am new to the real estate investing world. Currently work a full time job and my vision for the future is to be 100% into the real estate investing world. I can offer nights and weekends to focus on learning/working. 

My initial though is to start off with wholesaling - This gives me a good foundation into the real estate world - Creating a network, finding deals, marketing, due diligence, coordinating deals. I also see it as a huge benefit the be able to set up some marketing that is working while I am not working (Direct mail and websites).

I am looking to start off by finding a mentor who is already in the wholesaling world. I am truly looking for someone who will let me start off by doing whatever is needed to help out (marketing, driving for dollars, putting together investor material, and anything else that will build knowledge). Ideally, this person would partner with me once I start doing my own deals to add value through support and knowledge. 

Anyone in the NC triangle area who would be willing to let me work/learn to help grow your business? I am starting to attend local REIA events. Any other recommendations for finding a mentor in the area?

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  • Uriah D.Pro Member
    Investor · Apex, NC · Member since 2014 · 340 posts · 188 votes
    7y

    @Wes Evans  tonight at the hickory tavern in Cary is the local bigger pockets meet up. It starts at six and goes until about 8:30 PM. Find me and let’s talk. 

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  • Adam SchneiderPro Member
    Lender · Raleigh, NC · Member since 2012 · 957 posts · 639 votes
    7y

    @Wes Evans Recommendations: Join TREIA and attend their monthly new investor meeting hosted by Kathryn and Tim. You have a good plan in that you are willing to give as much  / more than you receive!

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  • Wes Evans
    OP
    Investor · Raleigh NC · Member since 2019 · 25 posts · 13 votes
    7y

    @Uriah D. Looking forward to speaking with you soon! Going to start going every Hickory Tavern event coming up

    @Adam Schneider Thanks for the tip. Got the monthly meeting on the 19th on the calendar. Looking to surround myself with knowledge and get the ball rolling!

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  • May Emery
    Specialist · Member since 2019 · 494 posts · 220 votes
    7y

    @wess Evans

    Marketing is SOOO important for wholesaling. In fact, for any type of investing. If you don't find homes to buy, you don't have anything.

    If you think that mail is a good way to find sellers, think about working with a list broker. They can make some suggestions so you aren't mailing to the same absentee owners that everyone else is mailing to. You could have a real value-add if you can have deals where the competition is much lower.

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  • Wes Evans
    OP
    Investor · Raleigh NC · Member since 2019 · 25 posts · 13 votes
    7y

    @May Emery  Finding deals seems like a never ending challenge to be creative. I have read direct mail is still #1 - With there being tons of competition in direct mail - Any creative ways to find deals??

    I know door knocking or heavy outbound cold calling is likely an aggressive approach that and while not so creative, you can always find what you are looking for with hustle and corrective strategy. 

    Do wholesalers want heavy outbound cold callers or door knockers on their team!?

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  • May Emery
    Specialist · Member since 2019 · 494 posts · 220 votes
    7y

    @Wes Evans You should consider mailing to people who aren’t in every other investor’s site. Absentee Owners have been popular for a long time, and are apparently still somewhat effective (people are still mailing to them).

    There are some owner occupied segments with people who share motivating factors for selling their home.

    Seniors with Long-time Ownership: often ready to downsize or transition to assistance.

    Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.

    Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance. They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.

    A mailing list broker can help sort out the list criteria to optimize for your area.

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