Building a real business in real estate

[George Louis]

Hello All,

This is my first post in this forum and I want to thank you all in advance because I have found this RE forum to be one of the best! You all talk about real topics and the wealth of info here is awesome!

Anyway, to let you know, I am celebrating my first year anniversary this month and I have made a modest income (160K). While I am happy with the results, I want to change my business model to where the business comes to me as opposed me chasing the business.

What do I mean? Well all I do is wholesale properties. I wholesale properties 600 miles away in the same state and in another state other than where I live.

My business model is strictly direct mail. I send about 2-7 thousand direct mail pieces out per month. They hit a 800 hotline and then I call the motivated sellers. Simple and effective.

Well, in the long run, I can see that one can get:

1) burnt out
2) bored

I know that there is a better way! I hear of some investors that don't send any mailers out where the deals come to them from reo agents, banks, lawyers, realtors, others investors, etc. That to me is the real way to build a business in this game.

Since I wholesale long distance, building relationships with banks, lawyers and reo agents can be a real challenge being that fact that I cant schmooze with them in person . I really don't know if I can do it. I guess I need to try. I don't practice real estate in my hometown because the market inflated so quickly in such a short time that it has become one of the worst markets to be in.

Can anyone tell me how I can go from sending mailers every month to having the deals come to me via multiple sources long distance?

How did you do it?

Where do you suggest that I start?

Or am I going to have to wait till my market gets better to start practicing in my hometown?

Thanks again!