All Forum Posts by: Brandon Krieg

To answer the original question -

In my experience, handwritten letters get the BEST response rates.  People can tell when it's a font.  I think the handwritten fonts get better open rates than standard, but nothing beats handwritten.

On the flip side, I have not done handwritten notes of my own for several years due to time.  I would recommend some split testing in your market.  If your response rate is significantly better with handwritten, you can either bite the bullet and do it (or pay someone to write them).  If not, you don't waste your time.

I recommend doing some testing before investing hundreds of hours (or many dollars) in your mailing campaign.  That way, you can make an educated decision on it.  I hope that helps!

@Yonette Ramsey - Welcome!  You've already taken the first steps down a long and fulfilling journey.

Read some really concrete 'action step' books like The ONE Thing by Gary Keller. Go to as many local REIA meetings as you can, and be consistent about it. This will help you learn and build your buyer's lists. And dig into the articles here and elsewhere about marketing for deals. They will be very helpful. If you see any quality lower-cost courses on wholesaling or marketing available locally or online, consider taking them. And get ready for the grind. This is not an 'overnight success' kind of job. It'll take time, but it's worth it!

That's all kind of general, but hopefully is a decent jumping off point...

@Aaron Winters - I am answering this about BUYERS specifically (as in other investors who will want to buy your deals).

I think you will have the most success by interacting in big old real estate GROUPS.  Find the local meetings, or the established groups in the area.  If there isn't one, start one (I did).  Go to those networking meetings every time.  After several meetings, your list will start to grow quickly.

If you get the occasional entry through your website, do what you're doing.  Follow up, get their info, and meet with them for coffee or something.

I have found that nothing takes the place of in-person meeting for building a buyer's list.  I've never had much success from lists or anything like that.  If you are unable to do much in person, something like these forums are probably your next best bet.  Just move from digital conversations to (at least) phone calls.  Tech is great, but it's very impersonal.  Just my two cents!

@Najia Weah - This is a big topic!  For more pointed advice, you might have better success with more specific questions.... for instance, what are some marketing methods that work for other people, or how do I meet buyers.

If you want one big, general piece of advice, it's dig in for the grind.  Wholesaling is not for the faint of heart, and it's not easy.  Simple, maybe, easy, definitely not.

So, start by learning one thing.  Once you  have that, pick something else.  Get tips from local investors, and spend time in your local meetings.  If you see an inexpensive course or get a book recommendation, follow through with it.

Other than that, just keep at it.  Persistence is an almost unbeatable trait!

@Phil Z. - You're right about some things, for sure. Those are major issues (learning repairs, understanding ARV, etc) that truly do come with experience and expertise. But there are plenty of things that can be taught. Processes, mindset, how to talk to people, how to negotiate deals, how to find buyers, and much more.

Just because something is simple, doesn't mean easy.  Cooking a steak is simple - throw meat on a fire until its brown enough.  But to make a great steak takes more finesse, practice, and learning.  

Taking a class to take time off your learning curve is not a bad idea.  The idea of cost vs. benefit is important, but the idea that NO wholesaling class could be helpful seems downright wrong to me.  I teach a local wholesaling course (which admittedly, cost quite a bit less than this one), and I know first hand a lot of those people have gotten great benefits from the class.  I just think that trashing the whole IDEA of a wholesaling class having value is taking it a bit too far.

Yep.  It's no problem.  I've done deals where the buyer, hard money lender, and I all met up and made it happen.  No big deal.

@Rashad Irving - Your best bet will be to kick off the process with the seller (as mentioned above), and then walk it with someone well versed in that property type.  Another investor, a landlord you know, a property manager, etc.  They can give you a good idea of value.  If they are honest, they won't cut you out of the deal.

If you really want to go whole hog, you could get an appraisal done.  Although I'm not sure you would want to spend that money upfront.

Yep - @Huey Fontenot - I would go to your geographic forum as well.  They will be in the best position to help you.  They will have better knowledge of your area.  People like @Clarence Johnson can be your best friend if they're willing to help...

As a word to everyone in this thread (and all future readers, since it's been active for a long time)... PLEASE get agreements reviewed by a local real estate attorney in your state.  Contracts are location specific, and different municipalities and states have different contract rules.  You may be able to get away with a boilerplate (or something from another state), but I wouldn't want to use that if anything goes awry.

The small fee a local attorney will charge is worth it.  Ask around your local meetings for a good recommendation.

PSA Over!

I have also typically assigned the contract directly, rather than selling the contracted LLC. I think there are advantages to both versions, as pointed out on this thread.