Marketing for the new Wholesaler

[Jim Shoemaker]

Hello Everyone.

I'm new to the site, so if this is in the wrong place, please forgive the fact that I'm a newbie and just point me in the right direction as to where it should go.

I am in the process of trying to start my investing/wholesaling business and my first big challenge seems to be generating leads.  I have sent out a mail campaign (1000 pieces) a few months ago to some out-of-state absentee owners, but the response that I got back was 12 calls from owners simply asking to be removed from my list, and 0 leads.

I have since then tried some bandit sign marketing.  From that I've gotten a couple of calls, but one was a short-sale lead that I then passed on to another investor, and the other looks to be in an area where nobody seems to be looking for investment homes (Globe, AZ).

So, I'm not the kind of person who's going to try 1 or 2 things and throw my hands up saying "it doesn't work". I understand it's a numbers game and it takes some time and patience to get moving.

One of the other challenges that I've been facing lately has been time to spend on my business.  My 9-5 job has been more of a 7-7 job lately, and I have a 5 month old daughter which is making my life wonderfully interesting.  We also just recently sold our home and moved closer to family to help with the new baby, so the last few months since April have been a blur.

So because of that, I have recently decided to leave my 9-5 job and pursue my business full time.  Given that decision, come 8/11 I am going to have a lot of extra time on my hands if I can't start generating leads.  I have some tentative plans to send out some new direct-mail campaigns, and while I'm not thrilled about them, I will probably continue trying the bandit signs for now.

My short term need/goal is to get the business at least functioning in the next 3 months, that will keep me from having to retreat to my 9-5 career.  I do have a marketing budget to work with, which is around $1500/month for now.

So what I am looking for is any advice or information you guys can point me to in order to maximize the budget that I have so just simply get things moving.  I know it's a numbers game, but I want to make sure that I'm not throwing my money at something that is known to be something that doesn't work (if that makes any sense at all).

I look forward to hearing from you guys and getting to know all of you as I move forward.

Jim in Queen Creek.

[Michael Quarles]

Expireds can be a great resource when cold calling...

Here is a script we used..

Expired Script

Hi, I’m looking for _____ … Hi ______ … my name is _______ with I Buy Houses.

I’m sure you’ve figured out that your house came up on our computer as no longer listed for sale using a real estate agent…

1. I was wondering… did you take it off of the market…. because the real estate agent couldn’t sell it? (You Did) Terrific! / Really!

1. When would you like this house Sold? (Now)That’s exciting!

1. Do you have your next home picked out already? (You do) Ouch!

1. What do you think stopped your house from selling? (The agent) Really!

1. Now you had it offered at _________ and it didn’t sell, right? (No) Really!

1. And your planning on lowering the price this time to get the house sold, aren’t you?(You are) terrific!

1. I buy houses just like your all of the time, and I have found that if the seller is willing… we can come up with a solution that works best for both of us, is that okay with you?(Yes) outstanding
2. What time today would be better for you for me to come out and buy your house ___________ or ______________? (___) Terrific

1. Before I come out… there are just a few more questions… I need to ask about your house, is that okay? (It is) outstanding

1. Is the home ? Vacant or ? Occupied? Occupant Name?

1. _____ Bedrooms______ Baths

1. How many Square Feet? ________________

1. Size of the Garage? ____________________

1. How did you happen to own the home?

1. What Kind of repairs does it need?

• ? Carpet?
• Paint ?
• Roof ?
• Cabinets ?
• Electrical ?
• Plumbing ?
• Plaster ?
• Sheet Rock ?
• Cooler? Heater ? Air Conditioner?
• Windows ?
• Landscaping ?
• Clean-up ?
• ______

1. What do you think the repair cost will be?____________

1. What are you asking for the house? __________________

1. Is that ? Fixed–Up or? ‘As Is’

1. How did you come up with that Price?

1. How soon would you like to be sold? ____Days_________Date

1. Is there a Mortgage on the house?? Yes ?No

1. What is/are the balance?1st ________ 2nd ________3rd________

1. Are you in Foreclosure?? Yes ? No? Notice of Default or? Trustee Sale...Sale Date _______ Arrearage Amount __________

One last thing…. When I come out… it is important…that all of the decision makers be there…. so I can come to an agreement to buy your house… Will all of the decision makers be there for the appointment? (if all of them are not here don’t go)

Well, ____________ I look forward in meeting you at __________…