Getting My First Wholesale Deal

[Albert Mainja]

Hello fellow investors, i just wanted to find out what is the best way to get your first ever wholesale deal if you don't have marketing capital but you are eager to do the work, hustle and close your first deal? I have been driving for dollars using deal machine to send automatic mailers to potential sellers but i haven't heard back from any one. I have also been using craigslist to search for properties but most of the properties are from other investors or realtors so it's difficult and i understand that this is the nature of the business. I know that I need to continue to be consistent and determined to get the result i am looking for but is there anything else that i should be doing to increase my chances of landing my first deal? Thank you. 

[Joey Chavez]

@Albert Mainja I Love this question pop up - it’s right up my alley Albert.

Not sure if you are already doing so, but I would definitely recommend you market to LLCs - so many of our deals come from that. You’re removing a lot of potential deals if you remove LLCs. I would also recommend pursuing any neighborhood A-D as long as it matches your acquisition criteria and passes all of your tests.

Now as far as driving for dollars - there’s a better way!

We are wholesalers of many types of properties, and one of the reasons it is so great is because we can do it from literally anywhere, we don't have to be where we are looking to buy - this alone saves us valuable time that can be spent elsewhere.

We are direct mail acquisition machines all without leaving our office (or home, or wherever we happen to be that day - haha). We pull assessor data from a direct link of the type of properties in the areas we want and send ALL the property owners an offer. (Not only out of state or tax delinquent.)

We scrub the list and then spend a tremendous amount of time on pricing, because although these offers may be a lot less than retail, they are not out of the question. We explain in our offer letter to sellers that we are serious investors, we are not agents/brokers, we pay cash, and are prepared to close in as soon as x number days. Then we wait for the motivated sellers to call us - and believe me they do. It works amazingly well, and it is how we get there first.

Knocking on doors (aka "driving for dollars") is an outdated way of doing this nowadays. We now have DATA and computers and direct mail making our lives easier and our time more lucrative.

Please feel free to message me if you have any questions!