All Forum Posts by: Ariel Lee

Thanks so much for your help @Michael Quarles

Yes I meant  $1500 a month. Sorry for the confusion. I'm hoping to reach 2500 people or so a month.

Would love to hear your opinion @Ned Carey.

Hi!

I am getting ready to send my first 2000 direct mails. I chose few zip codes that I plan to target. But I just don't know which sellers to target. I would love to hear your opinions, here's are my options:

1. List of absentee owners with 40% equity or more from listsource.
2. List of tax late, vacant, divorce from Citracado or Flipthisrealestatelist
3. Combination of both 50/50

I am leaning for option 2. I think these niche sellers would be a good starting point for me. But my only gripe is that I don't know how reliable are these lists from both Citracado and Flipthisrealestatelist. Has anybody any experience with them? or do you know any other list provider who could provide these niche seller lists?
Thanks so much for your help!

@Account Closed Thanks for the request Diego. Honestly I would be VERY happy with 1 deal a month at this point. I never thought of cold calling sellers. How would you get the seller's phone number? Do list brokers provide you with phone numbers as well? oh and a JV would be great!

@Chrissy Parsons Thanks so much for the clarification. I will definitely look at that target group. I think I heard some of my local investors having a experience with a senior couple and was able to flip their house. It makes a lot more sense now. I really appreciate your help Chrissy.

@Jonathan M. There is one FIBI meetup happening in Glendale. I will go and check it out, sounds like a great opportunity to meet people. Thank you so much for your advice, I would love to hear how you do your direct mail marketing Jonathan, I will send you a PM. Hopefully we get a chance to meet at one of the REI meetups. Thanks!

@Violetta Christensen Thanks for the recommendations. I am checking on the videos at this very moment. Thanks!

@Cornelius Charles Thanks for sharing your experience. What type of homeowners did you target? What other type of marketing are you planning to pursue now that direct mail gets you no leads? I would love to hear more about your experience. I wish you the best!

@Jo-Ann Lapin I will definitely check him out. I made a quick search and the seminar happens to be on one of my days off. Thanks for the recommendation!

@Aaron K.  Thank you Aaron, I understand that is important as a wholesaler to reach a mutual beneficial agreement with the buyer. I will do my best to accurately gauge my numbers. Question, who are owner occupied? what makes them motivated sellers? Also what's your opinion on probates? Thanks for the clarification.

@Walter Roby jr I just came back today from a free seminar by Than Merrill. I had read his book on wholesaling before. I'm planning on attending his 3-day seminar in couple weeks. Hopefully they can answer many of my questions. Walter, how is it wholesaling experience in LA? I've never met an actual active wholesaler here in LA, and would love to hear your experience.

Hello BP

My name is Ariel and I'm new to BP forums. I am 29 years old, a TOTAL newbie on REI, never bought a house nor invested in one, and I work full time as a chef.

I'm here to seek advice from experienced investors on how to get started as a wholesaler. I'm willing to put the work needed to learn and hopefully one day I will be able to buy my first investment property.

So far,

- I have couple of cash buyers who want buy and hold (living in LA, they are going for the equity). They encouraged me on pursuing this route, but it seems that they don't really know the process of wholesaling themselves.

- I have budget of 1000 dollars a month to put on direct mail marketing.

- I am working on a website and setting up a phone calling system.

Where do you suggest I get my list from? listsource? Tax court?

Which seller market should I target as a newbie? Absentee owners? pre forclosure?

How much equity should the seller have? I'm still very confused what equity does on the whole equation.

In LA in general, what percentage under market value should be my target? 70%? if that is even possible.

Living in Southern California, in the Valley specifically, where do I get the appropriate contracts that I need to do a proper wholesaling?

I apologize that I have so many newbie questions, but I recognized that here would be the best place to ask.

Thank you so much for your help! I really appreciate your help and guidance.

Hello BP

My name is Ariel and I'm new to BP forums. I am 29 years old, a TOTAL newbie on REI, never bought a house nor invested in one, and I work full time as a chef.

I'm here to seek advice from experienced investors on how to get started as a wholesaler. I'm willing to put the work needed to learn and hopefully one day I will be able to buy my first investment property.

So far,

- I have couple of cash buyers who want buy and hold (living in LA, they are going for the equity). They encouraged me on pursuing this route, but it seems that they don't really know the process of wholesaling themselves.

- I have budget of 1000 dollars a month to put on direct mail marketing.

- I am working on a website and setting up a phone calling system.

Where do you suggest I get my list from? listsource? Tax court?

Which seller market should I target as a newbie? Absentee owners? pre forclosure?

How much equity should the seller have? I'm still very confused what equity does on the whole equation.

In LA in general, what percentage under market value should be my target? 70%? if that is even possible.

Living in Southern California, in the Valley specifically, where do I get the appropriate contracts that I need to do a proper wholesaling?

I apologize that I have so many newbie questions, but I recognized that here would be the best place to ask.

Thank you so much for your help! I really appreciate your help and guidance.