What would you do with $1500

Question

Hey guys

If you had a budget of $1500 and wanted to start wholesaling, what will you use the $1500 for to land your first deal?

Marketing ect?

Jerryll Noorden · Answer

• Get a carrot site $99/month
• Make it credible $0
• Do facebook ads and drive traffic to your credible site $250/day

Stephen J Davis · Answer

I did not have any costs associated with my first few wholesale deals except that I took a contractor with me to get a bid for repairs on the first 4 or 5. This was about $75 per bid for the contractors time. Money well spent. I then know how to estimate repair cost on my own for future deals and I got pretty good at it over time. I did "spend" a lot of time on the phone with agents to get them to send me their distressed properties. Properties that were in such bad shape that they would not qualify for a conventional loan. Remember, the first step is to build your buyers list not find a deal. Join a local real estate investor club and collect the contact info on 30 to 40 investors so you can sell your deals in less than a day.

Barry Pekin · Answer

@Jonathan Rivera,

Money is only part of the equation.  Are you prepared to continue to invest in your business, or is this a one-time expenditure and then you're done?  Are you willing to put in a lot of hard work to manually find leads, or do prefer buying your leads through marketing?

Find out all of the possible ways to find sellers.  Cold calling, D4D, bandit signs, PPC, SEO, DMM, etc.  Analyze them against you and your circumstances.  Which ones are things you could do consistently for a long time?  Which ones cost money, and are you willing to continue to spend money on them?  Then decide what works for you.

It wasn't your question, but I would make sure to continue to learn and to network.  Go to your local REI meetups and get to know other investors - especially cash buyers.  This part is easy.

Jerryll Noorden · Answer

No, I just know how to do Facebook ads. I do not know how to do PPC. So that is why I said  what "I" would do.

Both work fine. I do think facebook ads can be cheaper.

John Mucilli · Answer

@Jerryll Noorden

Is your stance on initial forced traffic now focused around Facebook ads over Google?

Timothy Douglas · Answer

If building your cash buyers list is holding you back, ask a Real Estate agent for the past 6 months of cash solds and track down the names of the people who bought them. Furthermore, start attending a meetup every week with the intention of networking and create your own so that you can bring a property request sheet to it. You can also cold call landlords that own more than one property and see if they're looking to buy! Another thing you could do is team up with a wholesaler that is established to network with them and their contacts, just don't cut their legs from under them. If I had 1500 dollars I would create my own distressed property list by looking at the Delinquent Bill Searches that are provided by a County and start a Direct Mail Marketing Campaign. I would also save some of it for contractors during due diligence because a wrong estimate can make everything else that you do obsolete. If you find a good enough deal, the buyers will come. Also make sure you have a team in place to make the offering, diligence, and closing process run smoothly. If you're double closing, do you have your transactional lenders and closing attorneys in place? Do you have available contractors to make due diligence go smoothly? Do you have a Real Estate Agent to offer on properties for you and do some of the networking? Those types of questions are what I'm asking myself as I am trying to wholesale too!

Jonathan Rivera · Answer

@Jill F.

That sounds good but I been to many events..I’m just asking what are way to find deals and marketing with $1500,  not events

What would you do with $1500

Most Popular Reply