Looking for a Wholesaling/ RE Mentor

[Ranjit Wasu]

Hi guys, as i have recently started out in wholesaling and reading a lot about the business and getting out there too (boots on the ground), i am looking for a mentor in the orlando area.  Someone who has done some wholesaling deals and can shed some light and guidance on the order of things to do and not to do etc.  Someone who i can meet and call on to assist.  Even if we do a deal together that would be great and of course split the profit, but to also eventually send and help each other on deals.  Is this something someone would be willing to do? I really hope so.

[Tom Cafarella]

Hi Ranjit,

I don't know of anyone personally in the Orlando area, but I think all of the same principles apply no matter where you are geographically.  You need to create a lead generation machine.

I would take the following steps:

1. Determine what kinds of properties you want to buy. This may sound simplistic, but you need to get laser focused on exactly what you want so that you can then plan your marketing campaigns.

2. Build a database of all of these properties in a CRM preferably

3. Find all of the owners contact information(cell phones, correct mailing addresses, emails, etc)

4. Market to these people on a consistent basis:

a. Calling them(either you can do this or you can hire someone to)

b. Mailing them

c. Emailing them

d. Using facebook ads to stay in front of them

e. Using google adwords to target them.

If you are going to generate all of these leads, you need to properly monetize all of them, meaning that you make sure that you are making as much money on all of them that you can so that you are getting back all of the dollars you are spending and then some. This means that you are:

1. Buying the absolute best deals that come from these leads(you cherry pick the best ones)

2. Wholesale the deals that are just "ok" to other investors who are desperate for deals and are sick of buying on the MLS

3. Have an agent partner that you are referring the deals to that are not interested in a true investor offer(this will be 80% of your leads)

4. Have an agent partner who can help you generate and profit from generating buyer leads on all of the listings that you have(there is big money in this if you do it right and it is pretty easy to do)