Need Some Newbie Advice

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Hello BP Members

I need some advice

Background Info First:

I have very little capital to start my real estate investing (like many others), so I decided I would start Wholesaling first and build up capital to eventually roll-over into financing and flipping houses. I then plan on taking the proceeds from flipping houses to start investing into rental property.

Last May I decided to take action in the real estate game and purchased an Absentee Owners list for the Wichita Falls, TX zip codes and started sending out yellow letters. Again since I had very little capital to start off and very little time with working a full-time Outside Sales Rep job covering all of Northwest Texas plus New Mexico plus a family, I was sending around 100-200 letters per week in May and June. I actually had a pretty good response rate of around 5-6 calls per 100 letters (or 5-6%) but didn't land a deal. In June I suspended my campaign and efforts to be able to focus on my last semester of Graduate school (oh yea I was also in Grad School) and finish. I also moved my family down to Mansfield, TX from Wichita Falls, TX over the summer which is where I now reside.

I am finished with Graduate school and I have the family moved down and situated so life is good in that aspect but I am definitely getting the itch to get back into the real estate game and Wholesaling. Here are my two options and where I need advice.

Option#1:

I have all these leads from Wichita Falls, TX (around 2000-3000) that I have already paid. I know the Wichita Falls, TX market pretty well, including the good and bad parts of town, since I have lived there most of my life. I don’t think there is as much competition there doing what I want to do, wholesaling, as well. Wichita Falls, however, is now two hours away and a four hour round trip for me to drive to and see potential houses. With my current job I do set my own schedule so I could make the trip fairly often if needed like once per week. I’ve also though about trying to find a partner in Wichita Falls, TX that would be available to look potential houses more often and I just handle all of the Marketing, fielding the calls, etc. We would just split the profits on any closed deals. I’m not sure of the best way to go about obtaining a partner there from a distance.

Option #2

Start over; buy a new leads list for Mansfield, TX and the surrounding DFW areas that are within one hour radius of me. On the other side of the coin there is also a lot more competition in the DFW, TX area doing what I want to do.

With all that being said I could use some advice from everyone on what’s the best approach and strategy to take that will maximize my time, efforts, and profit potential.