What Market to Target Next

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Hello Fellow BP Members

Ok so I am feeling a little overwhelmed and “Paralysis by Analysis” right now so I figured I’d reach out for some help and assistance through the forum.

As my profile shows, I am a wholesaler. For the last six months I have been a one man show doing everything including printing, stuffing, and stamping envelopes, talking to sellers, looking at the properties ( two hour drive to Wichita Falls, TX and back from Mansfield, TX where I live) running my own comps, marketing and talking to buyers, etc. I am also doing all of this around a full-time job, plus I’m a husband to a wonderful and supportive wife, two college age daughters, and a seven year old son (also a Cub-Scout Den Leader).

My target market has been Wichita Falls, TX and I have had moderate success and have closed a few deals since I started in February of this year.

Recently I hired my college daughter to work for me. Currently she is doing the entire envelope stuffing and stamping and starting this week she will start to take the initial seller calls. I am having her fill out a basic questionnaire and convert it into a lead in my Zoho CRM. She will then email me the lead name and I will review all the information and, based on the lead provided information, call back the leads that I deem as motivated to negotiate and get the house under contract. I am currently paying her a set salary but do plan on eventually paying her an additional commission as well.

With all of that being said, the Wichita Falls, TX market is not very big ( about 120,000 population) and I am working on trying to get the Wholesaling business to a solid six figure a year net income so I can go full-time myself and quit the day job. I am working on partnering with another individual (who is a brand new wholesaler and trying to break into the business as well) who is in the Wichita Falls, TX area who will go and take pictures and video of a property I am interested in for a set fee to save me the trip. I may consider bringing this person on full-time for that market to where they meet with the seller, negotiate, and contract the property and then I just handle the marketing for sellers and marketing / finding the buyers and we just split the profit. I am not quite at this point yet where I am ready to do that but I am not too far off.

With all of that being said, I am ready to target a new market in the DFW area but I have no idea where to start as it's so big. I live in Mansfield, TX which is in Tarrant County. I would prefer to keep my drive time to around a 30-45 minute radius but that encompasses several counties and way more leads than I can afford to purchase from list source right now. BTW I focus on Absentee Owners (7 yrs. or older, 60%-100% Equity, SFR), 100% Equity Owner Occupied Homes, and Inherited Properties.

Part of the reason why I started in Wichita Falls, TX ( versus closer to Mansfield, TX) is that I wanted to get my feet wet and get some experience before I brought it down here where there are more opportunities but also a heck of a lot more competition.

So in summary if you were me and lived where I lived how would you determine what county or counties to start marketing to next?

Thank you for reading all of this and responding in advance.

Robert