All Forum Posts by: Martin Forde

Hey Jason feel free to DM me - new wholesaler but experienced investor looking to build out my team and strategy more. 

Hey! New wholesaler here, but experienced investor. I could have a need for some VA work if you're interested in defining some sales cycles and practicing some cold calling. I work in sales in my W2 so pretty well versed in how to build sequences, outreach campaigns, scripts, etc.

Not sure your market but whatever we learn together feel free to apply in your own wholesaling endeavors! Look forward to chatting regardless. 

Hello Biggerpockets,

I’m a moderately experienced and networked real estate investor looking to start exploring the wholesaling niche here in LA.

Looking for a gut check of my strategy, and to speak with anyone pursuing similar niches here in LA or other highly competitive markets.

Context and background

My first deal was a massive live-in flip. We purchased a hoarder house and gut renovated it, converting the downstairs space into an ADU. We now house hack the property to mid-term tenants. Long term aspirations for the lot is to use SB9 to split and add 1-2 additional units.

Learned a ton through this process - such as negotiation, deal underwriting, renovation estimates, contractor management, etc. Hosted a meetup and met a ton of local investors, I'm somewhat known in the local LA REI circles. Built out a small REI focused Instagram account as well (@ SB9LA)

I have a stable, corporate, remote W2 job with a ton of bandwidth. We have summer Fridays coming up, which gives me even more time to allocate towards this. No kids yet, just my wife. With weekends and afternoons - I could easily spend 20+ hours / week on advancing this.

Here’s why I like wholesaling and why I think I could break through:

1. Deep experience and familiarity with sales cycles and tools. I work in corporate sales as my W2. Prospecting, outreach, negotiation are things I do on a daily basis. I look forward to the absolute meat grinder of a sales cycle awaiting me.
2. Experienced investor. Seems like most people use wholesaling a starting point or a way to generate capital. I want to build this niche to be one of my primary income generators.
3. Already networked and known within local REI community. Looks like a major hurdle for newbies is simply knowing who to sell deals to once they lock them up. I have a solid established buyers list in place through my years of networking and building my Instagram.
4. First access to best deals in the marketplace. This is more mid-term, but I’d like to start flipping. I know that being able to get first crack at deals would be a massive competitive advantage. It would also allow me to wholesale skinnier deals or ones I don’t have bandwidth for.

My strategy framework is below:

1. Narrow focus on lead generation. I’d like to start with divorces and recent probate records as my primary lead targets. I recognize these are highly charged and emotional moments. I consider myself to be very empathetic and believe I could help solve problems to people needing to unload properties quickly.
   1. Would also “drive for dollars” by biking and running but only in my local neighborhood here in Northeast LA. This seems oversaturated and un-strategic, but I know my neighborhood well and believe I could differentiate here as well.
      
2. Engagement sequence would be a mailer with a handwritten address, cold call, text follow up, cold call, email, then qualify / disqualify leads.
3. Using my rental income, I have a ~$1k / month budget for marketing and tools. Goal is to find first deal defining the systems and KPIs, then scaling spend from there.

I appreciate any thoughts or constructive feedback!