New Investor Getting Starter - Wholesale

[Marcello Martinez]

Hello!

Thank you all for being so active in offering tips and advice to new investors like myself.  I am a new investor that is just getting started in Real Estate.  I don't have a whole lot of capital about a grand or two to get started. I figured Wholesaling would be the avenue I would use to get started.

I was wondering what marketing avenues you would all recommend and what has proven to be the most cost-effective and efficient. I'm in Arizona and I am going to move into buy and hold as well as flips once the Market allows it but for now I thought this would be the best start. 

Thank you so much again for any feedback and suggestions.  I'm extremely grateful to have a place to where I can ask questions while I'm learning.  Thank you all. 

[Ryan Blake]

@Marcello Martinez Your biggest hurdle will be marketing because you will need to keep your available funds  liquid so that you can put it down as earnest money on any contract you get.

Direct Mail - Super pricey when you are on a shoe string budge... but you can do something similar. Driving for dollars is driving hot neighborhoods and looking for the ugly houses, then sending them a letter offering to buy the house. Do the same but just go up to the houses and knock. Best bet would be to do this in the afternoon or on weekends. Look for homes with over grown grass, rotted wood, garage door that doesn't work, etc.

Bandit Signs - Cheap but illegal. These are not allowed in almost every incorporated city. Get them cheap from sites like this. No more than $1.00 per sign. Place them at intersections where cars will be stopping and sitting for awhile. I suggest not using metal stakes (those can cost $0.50 each) and instead tape the sign to the signal or use roofing nails to put it on wooden telephone poles. If they are taped or nailed it is much tougher to remove them. Hang them up on a Friday late at night. Most smaller cities don't have code enforcement working on the weekend so they should stay up for at least three days. Don't put any personal information on them. Don't put your phone number on them, get a google voice line. Remember -- This is not legal in most cities. The typical penalty if caught is a small fine under $250.

Car signs - Still pretty cheap and will let everyone know that you are there to buy their house quick if they need it.

County Clerks Office - Go online or in person to the county clerk's office and pull the foreclosure notices. Know that just about everyone else is doing this same thing but you can be different if you walk up to the door, dressed professionally and tell them you are there to help. Come with multiple options and gain the owner's trust. Don't lie. Just shoot them straight. They are already in a bad position and will need help selling or settling before the foreclosure date and if they choose to sell you are there to help them.

Hope this all helps. It won't be easy. You will fail... a lot. The winners are the ones who stick with it and persevere. Don't let one deal falling through make you quite. Don't let the door being slammed in your face make you choose a different path. You have to stick with it. You have to be strong. If you start to feel weak or like getting out of RE, come on here and get encouragement. I am not a mentor, guru or any of that but will be more than willing to send you encouraging notes and answer any quick questions via the messages or email (for free).

You can do this! You have proven you have drive and are capable by finding Bigger Pockets and your research, now go change your life with it.