Anyone Else Worn Out by Wholesalers Texts and Postcards?

115 Replies

DMM worked well for me. I sent out 100 post cards and landed a steal. So it works. For every 99 aggravated homeowners, there is always 1 willing to sell. 

I receive them too, but it really doesn't ruin my day. I don't answer numbers I don't recognize, if they leave a message maybe ill listen maybe I wont. Piece of paper? I throw it in the trash. Email? It gets automatically sent to my spam folder. 

My suggestion is to get another cell number through google voice, it has worked well for me. Set up email preferences and security features, and use P.O. Box for an address.

@Joe Cassandra

Thank You sir!

I'm a newbie wholesaler and seeing all this wholesaler bashing is very discouraging, like geez man why knock their way of getting to you guys level of investing. We start out wholesaling with the end goal to become a savvy investor. It's just sad that these guys look down on wholesalers trying to get in the real estate investing game because their being persistent and these seasoned investors are annoyed by their marketing. You'll be seen my marketing campaigns and text coming across your mail, email and text blast soon. Lol God Bless.

Originally posted by @Dandre Davis :

@Joe Cassandra

Thank You sir!

I'm a newbie wholesaler and seeing all this wholesaler bashing is very discouraging, like geez man why knock their way of getting to you guys level of investing. We start out wholesaling with the end goal to become a savvy investor. It's just sad that these guys look down on wholesalers trying to get in the real estate investing game because their being persistent and these seasoned investors are annoyed by their marketing. You'll be seen my marketing campaigns and text coming across your mail, email and text blast soon. Lol God Bless.

Agreed! Like is this an investor forum or what??

Sounds like people complaining about their own industry! To which I say welcome to sales! Nothing happens until someone sells something. Every other company you work for has sales people and yes they're going to contact lots of people. Get over it.

 

Originally posted by @Dandre Davis :

@Joe Cassandra

Thank You sir!

I'm a newbie wholesaler and seeing all this wholesaler bashing is very discouraging, like geez man why knock their way of getting to you guys level of investing. We start out wholesaling with the end goal to become a savvy investor. It's just sad that these guys look down on wholesalers trying to get in the real estate investing game because their being persistent and these seasoned investors are annoyed by their marketing. You'll be seen my marketing campaigns and text coming across your mail, email and text blast soon. Lol God Bless.

Not arguing the merits here but to play devils advocate one reason you have polarizing views and maybe you can see it from this vantage point.

For folks that are beginning and think wholesale is how you begin.. they launch into it with very little REAL training. And now they are trying to do transactions with Sellers and Buyers  ( that many times) this is their entire life savings.. So you have those folks going through some one starting out and their learning curve.. So a lot of mistakes are made.. and it just opens it self up to all sorts of potential issues of which many are bad to the seller and buyer all for someone going through their learning curve. And frankly probably not really caring a lot about what impact they may have on buyer and seller.. I mean just going into a deal with no ability to close and telling the seller your a cash buyer.. I mean really how is that  justified ?

so that's where you get this back and forth discourse.  So for the Real estate agents you have to remember they have brokers who supervise and manage them and then they are held accountable.. So granted many agents are not all that swift in the learning stage.. But at least they are doing it the way the law provides. 

 

This is a fascinating thread!

I'm just getting into wholesaling, and it's very educational to understand all the pain-points here.

From what I'm reading... it's not really wholesaling that most of you object to... it's the behaviors (ex: lack of education, lack of etiquette, questionable ethics) that are the most annoying -- which I can find just about anywhere I go, and at every level of real estate investing. Anyone here ever have an inspector, appraiser, contractor, real estate agent, investor, or lender they'd be happy to never cross paths with again?

I'm not even sure that most of the behaviors that people here have been annoyed with are *bad* (that is, not malum in se, but perhaps malum prohibitum in certain cases)... but they definitely seem mis-applied.  People constantly asking to help you solve problems you don't have (running around with fire-extinguishers during a flood, or trying to sell snow cones in a blizzard), or problems that someone else already solved for you.  

Wholesalers who are annoying you are doing so, because that behavior is incentivized and rewarded when they find the right market segment. Being consistent, persistent, following up and using multiple lines of communication to establish repeated contact are proven methods to reach people whose situation most real estate agents would walk away from, ... provided you are talking to the right population segment, which clearly several of them are not.  

The mis-alignment of 'skillset' and 'market' is going to generate some negative impressions -- not unlike what happens when you ask the 'average Joe' what they think of their land-lord. "All landlords are just greedy, stingy, pitiless money grubbers who are trying to pick my pockets just for breathing!" ... as if landlords don't have their own lives on the line, their own bills to pay, their own business to run, their own needs wants and desires which are no less legitimate than their tenant's?

As a wholesaler, I'm trying to help people who are in bad situations, not annoy them or beat them into submission.  In a way, I'm kinda glad to see that my 'competition' is so unfocused, uncouth, and overbearing (maybe it'll be a breath of fresh air when they run into wholesalers who care about them as a person, and sincerely want to help them get where they want to go?) -- but I'm also disappointed that they are the source of so much annoyance to others... and giving a bad name to the rest.

As a wholesaler, I have no idea how many times a particular potential seller might have been contacted, or if they are even still alive? The last thing I want to do is be an annoyance to someone.

I can't speak for all wholesalers... but if I knew of a way to avoid annoying people whose situation (timing, motivation, etc.) doesn't align with a wholesaler's skillset, boy howdy I would take it!  Why on earth would I want to waste both my time and someone else's?  

If, as a wholesaler, I can find you a deal that pencils out, would you walk away from it because you've gotten 7 calls today from other people asking if you wanted to sell X property, or because I might make more in the transaction (near term) than you do? 

If 5-7 calls and 2-3 texts a day makes you crazy, might I suggest:

https://jollyrogertelephone.com/

So you at least can get some potential entertainment out of listening to some of them talk to a bot?

Happy investing everyone!   


At the moment I'm studying to be a wholesaler. I honestly could take this thread as negative but I'm more inclined to try and learn how to be the best at what I'm trying to do. What are some of you suggestions for someone new to wholesaling?

Originally posted by @Daron Williams :

Im new to REI and and started investing in tax sales about two months ago.. i then learned about bp and have been watching podcast and reading every book i can. I wanted to get rentals but my credit is horrible.. i have raised it from a low 500 to over 610. But last week i started driving for dollars and researching properties that I could possibly wholesale so I don't wind up homeless. because I'm unemployeed because of the virus. I do cold call and have good conversations with people and i do direct mail but i have my nephew print them out and we mail them in envelopes.. just today ive had 3 calls from people from the direct mail and also have 4 people that i talked to that is okay with me trying to wholesale there house.. im completely honest with them and very polite. My problem is i live in a very small town and don't know any buyers. But i will keep educating myself and hopefully atleast get one deal so i can show my 80 year old mother that i can make it as an investor.. i love RE and wanted to be an agent years ago but i aslo had a drug problem and wound up with some felonies.. now im over two years sober and my family is proud of me.. i try to help the home owners not irritate them.. my dream is to be like several of yall thats on this thread but until i can buy my own property i pray i can atleast find a buyer for the leads i have coming in.. thank yall for all the education and information. I learn alot from yall.. i love biggerpockets and i love the idea of being a REI

First and foremost congrats on turning your life around man. That's a demon in itself that you have conquered but I'm assuming you're in Jasper which i know isn't the biggest market, but I would encourage you to try out several REI groups on FB. There are several ppl who invest in low volume market areas. Just find as many groups as you can and see which ones have the most activity and see who buys in Jasper. Good luck

Originally posted by @Effram Barrett :
Originally posted by @Daron Williams:

Im new to REI and and started investing in tax sales about two months ago.. i then learned about bp and have been watching podcast and reading every book i can. I wanted to get rentals but my credit is horrible.. i have raised it from a low 500 to over 610. But last week i started driving for dollars and researching properties that I could possibly wholesale so I don't wind up homeless. because I'm unemployeed because of the virus. I do cold call and have good conversations with people and i do direct mail but i have my nephew print them out and we mail them in envelopes.. just today ive had 3 calls from people from the direct mail and also have 4 people that i talked to that is okay with me trying to wholesale there house.. im completely honest with them and very polite. My problem is i live in a very small town and don't know any buyers. But i will keep educating myself and hopefully atleast get one deal so i can show my 80 year old mother that i can make it as an investor.. i love RE and wanted to be an agent years ago but i aslo had a drug problem and wound up with some felonies.. now im over two years sober and my family is proud of me.. i try to help the home owners not irritate them.. my dream is to be like several of yall thats on this thread but until i can buy my own property i pray i can atleast find a buyer for the leads i have coming in.. thank yall for all the education and information. I learn alot from yall.. i love biggerpockets and i love the idea of being a REI

First and foremost congrats on turning your life around man. That's a demon in itself that you have conquered but I'm assuming you're in Jasper which i know isn't the biggest market, but I would encourage you to try out several REI groups on FB. There are several ppl who invest in low volume market areas. Just find as many groups as you can and see which ones have the most activity and see who buys in Jasper. Good luck

Thank you i just reactivated my facebook a few days ago just to be able to connect to REI groups.. im going to probably have to travel to Beaumont or Lufkin to find deals that buyers will jump on

 



Originally posted by @Christa McClain :

Are wholesalers serious about the $10 EMD ?? I just spoke with one and when he said that I laughed at him. Not to be mean but really??

I know wholesalers who are able to put down $10, or $50, or $100 as EMD (Earnest Money Deposit) -- are you still laughing?

Why does it matter to you how much it is, if the seller and wholesaler agree to it?   Especially if the wholesaler is up front with the seller about what he/she intends to do with the property/contract. 

 

@Jay Hinrichs Do you think its possible to just sell one by one and keep rolling them all over into a DST using a 1031. Then when you have enough equity in that same DST trade up for a bigger multi family??

I haven't gotten worn out by the postcards yet. I don't get that many, and they go straight to the trash. But yesterday, I got a text asking to buy a property from Robert. You may notice, my name is not Robert. I've had the same cell phone number for 20 years, but Robert has been giving it out for a long time. I get a lot of spam for him, actually. CBD products, "personal enhancement" products, collection calls. Now wholesalers have found it...

Originally posted by @Daniel Kong :

@Jay Hinrichs Do you think its possible to just sell one by one and keep rolling them all over into a DST using a 1031. Then when you have enough equity in that same DST trade up for a bigger multi family??

dont know have to ask an accountant. 

 


Originally posted by @Christa McClain :

It matters to me because they offered that to me as terms for buying MY property and I find it ridiculous. So yes, I’m still laughing. How desperate. 

 Hey, you do you -- laugh all you want,  it's a common reaction to change/novelty/difference.  

"… he let them laugh, and little heeded them; for he was wise enough to know that nothing ever happened on this globe, for good, at which some people did not have their fill of laughter in the outset; and knowing that such as these would be blind anyway, he thought it quite as well that they should wrinkle up their eyes in grins, as have the malady in less attractive forms. His own heart laughed: and that was quite enough for him." - Charles Dickens

Good on ya for knowing what works, or doesn't work, for you -- I think I'll pay more attention to the folks who I have seen make a successful business with small EMD for wholesale deals.

Happy investing!