Looking for Wholesale advice from experienced wholesalers in my a
Hi everyone,
Iam new here to bp and Lord knows iam so stressed from all of the research I've been doing into wholesales my brain is on over load and I don't Kno where to start. I am in Louisiana and I was wondering if anyone has any suggestions for me getting started. Has anyone maybe experienced what iam feeling and decided to work with someone else until you felt comfortable enough to work alone....please feel free to say ANYTHING! Lol I am lost in the sauce at this point but I really want to get started on the right foot.
Thanks the top important fundamentals make your own guideline and once a day get to work in it, take a little bit of the YouTube/Book/Web fusion on wholesale and go to work. Also if you have any friends into real estate i would y’all with them frequently. Also stay informed here in BP. Def have a realtor you can build with from rime to time.
You will need to first determine which type of seller you want to focus on and then decide which way you will attract those sellers. You will need to do some form of marketing and that usually depends on your individual situation. Do you have the time to do the legwork yourself, or do you have the money to pay someone else to do it?
There are two ways to go about marketing/advertising your business...
You can go a mile wide and an inch deep, which would be marketing large scale such as blanketing an entire neighborhood with direct mail, door hangers, etc. This can get very expensive, very quickly.
Or you can go a mile deep and an inch wide. This would be very targeted niche marketing focusing on one or two particular niches. This is typically the best route to go for small companies with limited marketing budgets.
Check out these posts on BP:
The Ultimate Beginner’s Guide to Real Estate Wholesaling
The Definitive Guide to Real Estate Wholesaling
A 60-Day Action Guide to Wholesaling Your First Property
The Newbie’s Guide to Wholesaling in 7 Simple Steps
The 8 Most Common Lies Newbies Believe About Wholesaling
Check out these books:
If You Can't Wholesale After This: I've Got Nothing For You
The Real Estate Wholesaling Bible: The Fastest, Easiest Way to Get Started in Real Estate Investing
The Art Of Wholesaling Properties: How to Buy and Sell Real Estate without Cash or Credit
Everything Wholesaling: The Ultimate Guide to Wholesaling Real Estate
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Broker Louisiana (#995708886)
- GNO Realty
- 504-621-1729
- http://www.REvitalizePropertySolutions.com
Eugene Sims thank you very much 😊
Thank you for the advice and links I will definitely check them out Braden Smith
#2 Marketing Your Property Contributor
- Flipper/Rehabber
- Wilton, CT
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#2 Marketing Your Property Contributor
- Flipper/Rehabber
- Wilton, CT
Don't work with anyone else.
You then tell yourself you are incompetent (subconsciously). You are training yourself that you can;t do it alone. That when things get hard you need someone else to save you.
REALLY bad!
No, you do what I did.
I quit my job first before I started wholesaling (yeah don't do that).. but my point remains. There was no plan B. It was do or die. I can't rely on someone "else" because no one else had as much to lose as I had if this didnt work.
Failure was not an option. Being overwhelmed was not an option. Being sick being hungry, needing sleep was not a damn option!
I had to step up! I had to make it. I NEEDED to make it.
When you are a mom and your lil child is sick in bed needing money for meds, you would do what ever it takes to make it happen.
And it starts with that mind set.
You need to NOT rely on others. You need to overcome your weaknesses and step up.
So what do you do?
Get a website. Get the leads, Get the contracts and Whole sale that dang piece of paper like a friggin BOSS!
Jerryll NNoorden 😆 thank you!!!! For your insight and straight forward encouragement! You made my day
Hey Amon! My husband and I are new to this too! We recently closed our first deal. I’ll give you some things that worked for us.
1. Drive for dollars daily. We would do this between the hours of 12-5. We look for properties that may be distressed (ie grass that’s high, chipping paint, broken down cars etc.)
2. Skip Trace during the night using fastpeoplesearch.com and spydialer.com
3. Call during the morning between 8:30-11:30am. We send texts to those who have the cell phone voicemails.
Those are the action steps we take and they helped us. We found our first property April 1st. Got it under contract April 23rd and closed it June 7th. We had a lot of resistance and tire kickers come and look but didn’t find a buyer until AFTER we removed it from social media.
Truth be told prayer and persistence kept us in this process. We wouldn’t have been able to do it without God.
We made a lot of mistakes but the grace of God was truly sufficient .
We learned to not go for the absolute worse house on the block. This house was basically a shell 🤣 not saying there’s not a buyer for it BUT it works out a little bit quicker when you have a house that’s actually able to be inhabited 🤣🤣.
Don’t shy away when you come across people who try to shut you down. We encountered a lot of resistance BUT we carried on. We knew the battle wasn’t against flesh so we weren’t tripping!
I know I’ve typed a lot lol 😆 if you have any questions or need some help let me know. I’d be more than willing to share anything that’s worked for us.
Also listening to the podcasts and Brandon’s book helped tremendously! Ultimately taking action is what killed all the resistance!
You got this girl!! You will win! I’m so excited for you and I’ll keep you in my prayers ❤️
If you're going to be driving around looking for potential deals, I'd read into and then download the DealMachine app. Looks like they do a free trial for you to test it out.
@breanna Taylor Woww 🙏 thank you so much for your tips...I'll most definitely reach out to you. I actually found 10 properties today that I wrote down to look into. Went to the tax assessor website and got the info for the owners, did the comps first ,so I guess my next step is to reach out! That's where I start sweating
Hi Aquil,
Thanks for the suggestion, I'll look into that
Yes girl you got this!! Don’t be nervous! I like to pretend like I’m calling an old friend who I haven’t talked to in years. Remember to remain professional, positive and relatable. You’re building a relationship and offering a service. The help you’re providing potentially puts them in a better situation! It’s a benefit that you’re compensated greatly for your efforts!
You’re gonna do so great! I’m excited for you!
🤗 thanks @Breanna Taylor...your a doll. I actually developed a little script to talk to the seller without having to think of stuff right off my head and start to sound crazy lol. Simple to the point questions but also asking a little about their background showing sympathy to most people's situation and grief, because I do care I definitely know what it feels like to loose everything with no way out.
#2 Marketing Your Property Contributor
- Flipper/Rehabber
- Wilton, CT
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#2 Marketing Your Property Contributor
- Flipper/Rehabber
- Wilton, CT
Listen,
All those that gave you pointers, that is great.
And not to rain on their parade or anything, this is exactly why so many wholesalers either fail or never really make it big.
Bandit signs driving for dollars, door knocking. This amateur stuff and no offense but that is not likely a solid route to make it.
Will you get a deal via those methods? Maybe? Yes? No? Who knows.
Do you see a big shot wholesaler knocking on doors? No!
Do you know how many doors you have to knock to get a deal? Many.
Do you not have a choice because you have no money? Then do not do wholesaling yet.
Save up 3K to solidly invest into your wholesale business.
Believe me when I say this. If you have 2 wholesalers (wannabee wholesalers), neither with a job or money and they are tasked to make 50K as soon as possible going 2 different routes:
Wholesaler 1, jumps on it. D4D, Bandit signs, door knocking. and hustles his/her butt off.
Wholesaler 2, gets 3 jobs, Staples, Mc D, and a waiter at TGIF and does this for 3 months. They start getting a domain name 11.99 Whosyourdaddy (or was it Godaddy?!) Then they work their site (free, while they work their butt off with the 3 jobs. After said 3 months their site is ranking #1. I know this because that is exactly how long it took me (between 3 and 4 months). I have ranked clients #1 in less time. My record is 28 days!
When you rank #1 (and are credible) this happens:
Free highly motivated sellers that stream in DAILY. Our conversion rate from these leads is as follows. We vet all the leads. Those that owe too much on mortgage get dropped. Then we call them. Those that are not realistic want too much for the house, we drop. Every 10 leads we get between 3 and 5 are left. From the keepers, we sign between 1 every 2 and 1 every 3 walkthroughs. So that could easily be between 1 and 4 contracts a week.
Now which wholesaler do you think will reach 50K first? Or even better yet,
which wholesaler will EVER reach 50K?
Listen, you need to think. You need to be intelligent calm collected think 10 steps ahead.
Will door knocking give you continuous leads?
No
D4D?
NO
Bandit signs?
NO
DMM? NOOO dang it
Once you stop, or take a break, game over!
With SEO, I now do nothing, and I get so many leads a day, high quality motivated seller leads.
90+% of wholesalers DO NOT THINK.
They have no plan. (Even if they THINK they have a plan). They "network" go to REI meetings, try to cling to others that are self proclaimed successful. They think they can learn from others (that also have no plan).
You know what I did when I first started?
I asked BP for advice and help. Constantly. The responses I got were utter CRAP. BUT hey, I am a noob and they were experts so let me calm my ego down and just do as they say.
I soon was kicking myself in the butt because I NEVER in my life followed any advice I thought was retarded and WHY did I do that now?!
So I locked myself up in my room, and did what I always do. Be smart, intelligent and realize no one is better than I am. NO ONE. This may not be true.. but who cares. I need to believe this in order to have that confidence to make it.
And now... I OWN the first page of Google to an unprecedented extent.
Do you know what happens if you do a search on Google for the most sought after keywords to find we buy houses companies?
No?
Well I shall tell you!
Google now correlates my name to a keyword related to finding a company that buys houses. The only person/human. When a seller tries to look for a way to sell their house NOW, Google LITERALLY suggests to them to go find this certain Jerryll Noorden dude.
Do you think anyone will now have a doubt in their mind if I could be a could choice? yeah.. no!
When this happens,
you
CAN
make
a
ton
of
money
So this is what you do. Stop asking people for advise. Stop telling instantly believing people on how to do it just because they do it. I mean WHO are they!?
Anyone can say anything. Does this mean it is solid advice?
No! (and this is why when ever I make a claim I provide numbers, graphs, proof evidence screenshots, so that no one can even TRY to dispute my claims!
So, think on your own, keep asking yourself. Why am I doing what I am about to do? Does it make sense? Is there a better way? What are the short commings? ALWAYS ask yourself and try to come up with reasons that what you are about to do is a crappy idea. When you can not come up with a reason, you may have a solid idea!
So now, go git em tiger!