How do I start a wholesale business from scratch ?

Question

David Bokman · Answer

Just like any other business its all about sales and most importantly MARKETING!!!!!  You should ask yourself if your good at those 2 things before starting. Wholesaling has everything to do with sales/marketing and nothing to do with real estate. What would you do if you were opening up any other kind of business? First few months should be focused on educating yourself on your local market, setting up a marketing budget, creating business cards, website, marketing materials to hand out etc etc etc.....you should expect the first few months to be difficult until your able to get a constant lead flow.

Heath Ryans · Answer

@Natalie Vittini welcome to BP.

1) If you havn't already, you need to be going to your local REI meetings. You need to be getting in front of cash buyers. You want to be a familiar face to them and understand their parameters.

2) you need decide how you plan on doing your initial marketing. Driving for dollars or purchasing lists and your target audience. websites and such will come later.

3) decide on what type of direct mail. Letters, postcards, ect.

4) either purchase lists or start driving for dollars to locate properties

5) send mail

Understate that you may not hear anything back from most of these people. That is the nature of the beast. Stay consistent and mail on a schedule. No more often than once a month though. You don't want to spam them. Your likely to see take alot of calls, see alot of properties, and make alot of offers. You may not make a deal. That's fine. It's about gaining experience and learning how to talk to potential sellers.

Stick to your numbers above all else. You'll get alot of "No's", probably a good cussing or two, and everything in between. It doesn't matter. Numbers don't lie.

Best of luck. Let me know if you have any more questions.

Darron Washington · Answer

Natalie welcome the the world of Real Estate Investing, what markets are you looking to conquer? The best piece of advice would be to just jump in and take action; books and articles provide great ways to learn but ultimately hands on experience always works best so just start doing some wholesale deals