Wholesaling

[Andrew Hall]

September was my first month wholesaling and I have learned a lot and got really close to closing my first deal. The deal is still pending and hopefully will close on the deal soon. My concern is spending a lot on direct mail and running out of funds. I'm using my savings and haven't used my credit cards which is what I'll have to do next month if I can't close a deal soon. What would you recommend besides driving for dollars which I am doing to get deals without spending a lot of money?

Do you go to the assessors office to get probate leads and should I do this once a week, month, or bi weekly?

Targeting eviction leads seems like another good strategy I was looking into as well.

I also came across a vacant lead sight but it is $100/month to join. Any info on this and if the leads are legit and updated?

Currently I am spending about $500 on direct mail a month targeting absentee owners throughout San Diego. I'm targeting Imperial Beach, Chula Vista, National City, and Fallbrook. I'm also sending out mailers to pre foreclosure deals throughout San Diego County but haven't received any calls from these leads yet. Pre foreclosure leads I'm sending out once a month. 

Any advice would be greatly appreciated. Just looking for some insight and learn from others that have been in my situation and what worked for them. 

Thanks!!!

[Brett Snodgrass]

Hi @Andrew Hall , 

I frequently use direct mail as a wholesaler, but there are cheaper ways to find deals when starting out if you're worried about running out of funds. I average a deal per 1,000 mail outs so it's worth it for me to send out to thousands as I wholesale multiple properties per month. Driving for dollars and craigslist are other ways that you can find deals without having to spend more than some gas money. It definitely takes some work to get to the right deal, but the more you do it the more you more you can create systems that are reproducable and make finding the deal more efficient.