new wholesaler seeking wholesome advice

[Mike Ordunez]

Good evening BP , had a quick question . I am new to wholesaling and was lost in the direction of leads I should be chasing . Should I be looking for forclosed / preforclosed homes with no equity and short sale with the bank ? I was leaning on this strategy to work on by door knocking or by calling vs hunting down high equity deals with owners who could possibly become motivated based off receiving mailers or my phone call vs others like calling for landlords or probates , tax liens / tax delinquent ,house code violations or absentee / vacant lists which vary in reasons for its self ?

I apologize if my question is to broad but I'm just looking for some advice from some wholesalers in the game right now , what are you successful with and what should I not be wasting my time and possibly money that I quite don't have yet . I appreciate any and all advice / comments ! Thank you for your time .

[Brandon Diaz]

Man I swear it feels like yesterday I was in the same shoes. Let me say, you will find direction. It will take time, but your question is clear enough that.. we all feel you. This is a journey and you are at the beginning of that journey. Keep going!

Here is my answer... Deals are people. You need to talk to people about houses. A wholesaler is creating opportunity for other investors or homeowners (cash buyer type) to get a deal. That means somewhere you are bringing an actual deal. 

One of the best ways to create those opportunities is to spend money in finding deals through marketing and advertising. This generates leads. That means opportunities for you to go chat with a person about a situation (any situation) about their house and see how that deal can be created. Start cheap advertising and start small but be consistent and leads will come through. (I got a lead today off of just going to a Facebook yard sale group and posting a "we buy houses" meme on the group and got a phone call)

True deals will be obvious because of their situation, and theat will force you to learn how to help that person- thus you start gaining experience. That experience over time allows you to be a master of your craft. Wholesaling is a skill and it's hustle work (grow your hustle muscle). Eventually, it becomes you.

As far as marketing:

You can target market (contacting directly to preforeclosures, code violations, vacant lists) BUT you are confused on direction on who to target market. So, I would recommend learning different types of "gorilla marketing" techniques that are on BiggerPockets already. Basically general marketing for all situations to call you. 

Let the deal tell you how to help them out. Experience will tell you how to start target marketing to the different groups you just mentioned above. You will help one person out and than (*idea pops in head) I could target to everyone that is in this same situation.

I hope this helps