Updated over 5 years ago on .
Strategize the Financials of First Quarter Wholesaling
I'll be transitioning to full-time wholesaling in 60 days. What are your suggestions for pacing investment into marketing?
Past:
- I'm changing careers, but have been learning real estate and networking for over a year. I aim to wholesale full time in 60 days.
Timeline:
- Begin marketing to motivated sellers in 60 days
- Until then, plan, set up systems, and network
1st Quarter Goal:
- By end of first 3 months (after marketing begins), achieve $3000 NET monthly income
Budget
- 15k startup funds
Strategy
- ROI will significantly increase over time as I learn and get better.
- I need to pace myself so I don't waste money early while I'm learning
- This is in tension with needing to scale to meet my 1st quarter goal
- Plan so far: I've heard 5k/mo in marketing is a good place to start. I plan to pull my own lists of probate, evictions, property tax defaults, in that order of priority. (Let me know if you have other suggestions to either of these plans.)
To meet my 1st quarter goal, how would you strategize:
- What is your recommended spending pace for the first month? Second? Third?
- What marketing campaign strategies would you recommend for the first month? Second? Third?
- As I learn, is growing as simple as scaling marketing volume?
- What other strategies would you recommend? What are good ways to invest in efficiency? When would you recommend changes or making new investments?