New to wholesaling

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Hi everyone. I'm 23 and run two day cares in NYC. (I've been lurking on this board for a few hours and am pleasently surprised to see so many people my age looking to do business). My husband and I have become interested in wholesaling pre-foreclosures. We are very new to real estae investing in general. We understand that it's competitive out there, but we still want to jump in on things.

I have a couple questions:

1. What is the best way to get leads for motivated sellers and the best way to contact them? Mailing postcards? The internet (foreclosures.com)? bandit signs? knocking on doors? all of the above? (ditto for buyers, although I've read that attending auctions and reia meetings are good ways to find buyers).

2. Should we work on building a sellers list first or buyers list? Or both at the same time?

Thanx in advance for any advice.