All Forum Posts by: John Fossetti

Hello Erik, welcome to BP! Wholesaling is a great way to start, I advise some people if you plan on starting a business wholesaling, make a plan, more specifically a marketing plan.

Successful Wholesalers make their money by finding deals. Most beginners make the mistake by trying to find deals that are on MLS, those are deals anyone can get, to be successful, you need to work at finding the deal. I have a saying, you don't find a good deal you MAKE a good deal.

A wholesaler needs to be a great Marketer and Negotiator!

Good Luck with your endeavors!

Hello Jeff, welcome to BP. Your best bet is to continue networking online and offline. Attend local REIA's as well and meet local Investors / Wholesalers if you can. CT REIA is the biggest REIA in New England.

If you continue to educate yourself you may be able to make a lot more money going directly into Wholesaling instead of bird dogging, but it really depends on your schedule as well.

Good Luck!

Each State is different, so talk to legal consul before implementing any strategies.

In Massachusetts, I utilize trusts (if the bank allows it). Once I close on the property, I assign the beneficial interest of the trust. I haven't done this in about a year since I got my real estate license, so I am not sure if the rules have changed?

Knowledge you can gain, confidence you will earn once you start doing a few. Wholesaling is a job, you need to go out there and find the deals.

You should really put together a business plan and a marketing plan, you know the old saying, if you fail to plan, you plan to fail.

You have to first overcome any fear or doubt you have in your mind. This is a business, you need to work on your business and in your business to become a successful wholesaler.

Go to local Real Estate Clubs to gain knowledge and start networking.

Start having lunches with a couple of investors, get to learn the lingo, birds of a feather flock together. The more knowledge you get, they more the confidence comes. I would say Knowledge is Power, but it is only powerful if you know what to do with it. Everyone knows that they should eat healthy, but how many American are actually eating healthy LOL.

1. Overcome any Fear / Doubt
2. But a plan together
3. Take Action
4. Be Consistent

Hello Neil, welcome to Bigger Pockets! That is a question everyone has when they are looking to start wholesaling. How to get started?

All of the above you mentioned are good ways to start, you have to do anything to get a deal. I would start going to local networking groups like Chamber of Commerce, Business Network International and most of all Real Estate Investor Clubs. You can google REIA's in your area as well as looking up on Meetup.com for a couple of events.

Marketing is the most important when becoming a wholesaler. I got started by sending letters (yellow letters or stationary) to preforeclosures. You can buy lists, but if budget is tight and you don't mine doing a little bit of work, you can head to the local registry or courthouse for all of the Notice of Defaults and mail to them. I never send postcards as I try to be sensitive to the clients situation and not letting the whole neighborhood know they are in foreclosure.

Bandit signs are also a good way to find deals, although I am noticing now that it seems like every corner of every city/town there is a different WE BUY HOUSES sign LOL..

I am a full time investor/wholesaler so what I do is plan my marketing techniques daily. Tuesdays I will head to the courthouse to gather information as well as "Farming For Deals" Looking for the run down properties or distressed situations.

Once I find a property that fits my criteria, I will do the research and try to contact the owners! If I can get their phone number, I will send a mailing and 3 or 4 days later call them and follow up. I will also knock on their door as well.

If you sit back and wait for them to call you, you will not become successful. Go the extra mile and do things other investors are not!

You would eventually want to set up an LLC. I tell people to do it before you get your business going. This is a business and you want to look as professional as possible even if you haven't done a deal.

People do business with other people they like and trust!

Hello Leslie B., I am from South Shore MA. Wholesaling is a great way to start to build your real estate portfolio. As Ned mentioned, it does take some money to wholesale but it doesn't need to be too much.

The number one thing you want to focus on is marketing. A wholesalers job is to get the inventory, if you don't have any deals you can't become a wholesaler. Let everyone know what you do and get out there. Like anything else, you need to get educated on how to find the deals, market, negotiate and sell.

I do know people in Northern MA and Southern NH who would buy some of your wholesale deals once you get going. Good Luck with your endeavors and welcome to Bigger Pockets!!!

John Fossetti

I write 1 letter on a white piece of paper by hand. I put it over yellow lined paper and use the lined paper as my guide. I then line it up on my copier and copy it to the Yellow lined paper.

It is my handwriting (on blue Ink) and when it copies it looks like it is authentic.

Terry H. All states are different, but here in Massachusetts you need your salespersons license for a certain amount of years (3) before you can get your Brokerage.

So yes it is your salesperson license LOL!!!

When I started Investing in 2006, I was not an agent. I did however get my license in 2011 because it wouldn't hurt.

As mentioned above, you have to disclose everything and anything. Becoming an agent is great especially to get the access to the MLS and it also builds credibility with your brand that you are a professional!

Hello Brooke, I just left Atlanta last week to come up to the snowy (and Cold) North East.

I would recommend that you start off with Wholesaling. You should set a goal to wholesale 3 properties a month, once you do that for 4 or 5 months, then you should have enough money saved to move onto Renovating.

Marketing is the KEY to wholesaling, anyone can find a property on Realtor.com, the key to wholesaling is to find that property that isn't on the market and get it under contract.

I usually target vacant homes and distressed properties when Marketing. Good Luck with your new adventures!