Full Time (3yrs) Looking for a Mentor, Help, Suggestions... Something.

[Merrick Loveland]

HI All, 

I've been reading BP articles for several years, I love the submissions and input from the different authors, but I have never got in to the forums so I'm not sure if this is the right category but I'll take a shot... be warned this may be long-winded.

I have been wholesaling since 2005, it started out part-time while I was working my JOB, and I would close a few deals a year for some extra money.  In Jan of 2011 I lost that job, in June that year my wife and I decided it would be the right time to just go full-time in to Real Estate, and I have been full-time ever since.  Business was not amazing, but was quite a bit more than I was making previously, so it made sense to keep it going.  NET income for 2011 from RE was 35K (for about 6 months of work), 2012 was 62K, and 2013 was 76K, so it would appear that the business was growing as I planned (although much slower than expected).  Around Sept of last year my leads essentially dried up, I went from a 6-9% response rate on direct mail down to the more usual 1-2%.  At this point this year I have only closed 4 deals for a total NET profit of about 38K, and they all closed at the end of April, nothing since, and no real prospects. I have tried to persevere and kept marketing every month, as I know you are supposed to, but for the first time, I am looking at simply running out of money.  I generally send out between 2500 and 3500 mail pieces every month (mailing to absentees, probates, delinquent taxes, code violations, vacant properties, and sometimes inherited - which was new for me this year).  I have a decent online presence in my market as well.  

Any insight or help would be greatly appreciated, I have a family of 5 relying on me, and I've just been spinning my wheels all year trying to figure out where/what I need to change.  

Thanks so much.

All the Best,

  Merrick