New wholesaler in the northern VA area

Marketing Your Property
6yFollow

New wholesaler in the northern VA area

Andrew Walker
New to Real Estate · Gainesville VA · Member since 2020 · 12 posts · 1 vote

Hello BP gang.  I'm new here to the forum, just joined a few weeks ago and wanted to introduce myself.  I recently got started wholesaling in the northern Virginia area, and it has been challenging.  I've been at it for about a year now but still haven't successfully closed any deals.  I've talked and met with buyers, and I have a few cash buyers also.  But its been a slow process.

I wanted to connect with some folks here and ask the successful wholesalers and investors, what are the best sources that you have used that has been successful.  That is, what marketing method allowed you to find motivated sellers, that didn't cost an arm and a leg?  

Any feedback will be greatly appreciated, thanks! 

0Reply
29 views

Most Popular Reply

Frank Hinck
Rental Property Investor · Minneapolis, MN · Member since 2020 · 540 posts · 285 votes
6y

@Andrew Walker

Where do you fall short?, are you getting in the door but not closing? Driving for dollars, equity lists slip trace & coldcall & text & Mail. It takes 7 contacts to make it happen. bandit signs only if legal in your area, church groups of older folks. Be friends with them on the cold calls, then they’ll want to sell to you.

1Reply
See this reply in the discussion

16 Replies

Jump to latestLatest
  • Frank Hinck
    Rental Property Investor · Minneapolis, MN · Member since 2020 · 540 posts · 285 votes
    6y

    @Andrew Walker

    Where do you fall short?, are you getting in the door but not closing? Driving for dollars, equity lists slip trace & coldcall & text & Mail. It takes 7 contacts to make it happen. bandit signs only if legal in your area, church groups of older folks. Be friends with them on the cold calls, then they’ll want to sell to you.

    1Reply
  • Andrew Walker
    OP
    New to Real Estate · Gainesville VA · Member since 2020 · 12 posts · 1 vote
    6y

    @Frank Hinck

    What I'm using as my primary form of marketing is postcards.  But I only send out a few at a time (about 100 or so) because my budget doesn't allow for me to do much more than that.  I like your idea of it taking 7 contacts to make it happen.  My list that I compile are pre-foreclosures and vacant properties.  I send out postcards to that list, I then skip trace the list so I can also email them.  I used to cold call them, but the results were horrible, so I don't do that anymore.  But I can and will text them.

    I think where I was falling short was not marketing to that same list consistently.  In other words, I kept getting new list and sending out marketing information to them, and that's it.

    0Reply
  • Frank Hinck
    Rental Property Investor · Minneapolis, MN · Member since 2020 · 540 posts · 285 votes
    6y

    @Andrew Walker

    It may not take 7 mailers but likely will take 7 contacts. I’d identify your Top 30 properties and go hard after those. The mailers to different addresses everytime can become like a shiny object syndrome and you never get traction with any of the sellers. Cold calls and texts, anyway to get them to be friends. Figure out wha their Problem is and solve that

    1Reply
  • Andrew Walker
    OP
    New to Real Estate · Gainesville VA · Member since 2020 · 12 posts · 1 vote
    6y

    @Frank Hinck

    Yes I'm definitely figuring that out now.  Going after those same properties to gain traction.  I'll be using that strategy moving forward for sure.  I'll use more than just mailers to make my contacts.  I'll do a combination of mailers, emails, text and calls.  This will help in building better relationship with my list.  Thanks for your input on this, you actually gave me a great idea!

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y

    No, all wrong.

    First mistake is... WHY did you choose mailers? Based on what did you determine that sending mailers is a good idea?

    If you don't have data.. solid data that support this you are winging it, and if you wing it you fail.

    Second, based on what are you  sending just 100 postcards? If you look at your bank account and send what you can afford, you are winging it. If you wing it you will fail.

    According to (my) data with my selected assumptions, up to $5K spend on mailers is a gamble. You could come ahead or you could lose money. Around the $10K mark you start to see more favorable numbers. 
    You need to look at the cost/deal for what ever method you decide to do. If sending postcards in your market's cost/deal is $3K, it doesn't matter how many times or how often you send your postcards out you will NEVER make a deal (unless ridiculously lucky).

    So no matter how often you will send that 100 mailers out, you are most likely not going to make a deal no matter how often you do it. (And as you already know, I am right.. you are doing this for a year already without luck).

    So now you will send  1 person 7 mailing campaigns... now based on what do you decide to do this? Because some random stranger told you to do it? Did you ask them how many deals they are making? Even if they were making a ton, that still doesn't mean it is a good idea.

    You may be new at this game but you are not new to logic, intelligence and common sense.

    Stop being sheep. Stop assuming because you are new the other guy with 13 years experience knows better.

    Sending someone 300 cards in 3 months doesn't create motivation. Not because you send one person 7 mailers for some ridiculous reason  the 7th card transforms something in their brain that causes them to sell.

    Logically, IF you really for some reason you do decide to do DMM, sending a person a mailer just ONCE... will have a MUCH higher success rate than sending someone a mailer several times. I have explained this using logic and common sense in an older post. If you do not believe me or want to read the details on it I will paste the link for you.

    Think about it. What do you think will yield better results? Sending 1 person 700 mailers, or sending 700 people 1 mailer?

    If you want to be successful, you need to think.

    If you are doing this for a year and you have not closed a deal yet obviously what you are doing is not working. People that say constancy is key, are friggin demented.

    Do you think if NASA's spaceshuttle blows up, the director will say, keep launching them, eventually one of them has to make it to the moon?

    Of course not.

    WHY the hell are you still doing the same thing when you know damn well it is not working.

    Here is what you do. Find motivated sellers. Find motivation. Once you are able to find motivation you will make deals. DMM  (at-least lists... are not motivation).

    Remember, stop blindly listening to people and use your intelligence.

    Good luck mate.

    btw.. please don't do a combination of things to send mailers.

    Again think. It is not about how you reach someone. It is about reaching someone ... that is motivated. THAT is the secret, not some weird combination of different methods to reach someone. You DO know that that sounds ridiculous right?

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y
    Originally posted by @Frank Hinck:

    @Andrew Walker

    It may not take 7 mailers but likely will take 7 contacts. I’d identify your Top 30 properties and go hard after those. The mailers to different addresses everytime can become like a shiny object syndrome and you never get traction with any of the sellers. Cold calls and texts, anyway to get them to be friends. Figure out wha their Problem is and solve that

     The fundamentals of your response is wrong.

    If someone doesn't want to sell or if they have no problems to solve, no matter how many times with what method you reach them you won't make a deal.

    No matter how hard you try to be friends, the flaw here is, that all this is all good and dandy IF there was motivation to sell.

    Motivation is an absolutely necessary condition for any of this to work.

    The system you all are discussing doesn't filter out motivation.

    0Reply
  • Frank Hinck
    Rental Property Investor · Minneapolis, MN · Member since 2020 · 540 posts · 285 votes
    6y

    @Jerryll Noorden

    Thank you for the copy+paste Reply

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y
    Originally posted by @Frank Hinck:

    @Jerryll Noorden

    Thank you for the copy+paste Reply


    Look bud, I see you give questionable advise all over the board. I send you this "copy and paste" reply as you call it (I did not copy and paste anything.. I took time out of my day to try to educate you and make you see why your advise is not good), because I wanted you to see it. My first message was aimed at the OP.

    That doesn't mean YOU will see it too. Not many people go out of their way to answer others and try to be helpful, and you are, so I admire that. Now I just wanted to let you know that a lot of the things you say is actually wrong. Yet... That is no grounds to be mean, rude or spiteful right?  We are all here to learn.

    If you can't handle being told that what you are saying is wrong, you have no business being on a public forum. So either people need to listen to you and you must be right, or you will insult?

    Now, .. we are all friends here so lets just learn and grow together!

    0Reply
  • Frank Hinck
    Rental Property Investor · Minneapolis, MN · Member since 2020 · 540 posts · 285 votes
    6y

    @Jerryll Noorden

    I can’t wait for your Guru course to come out. I’ll pay the $997

    0Reply
  • Steve Morris
    Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
    6y

    "If you don't have data.. solid data that support this you are winging it, and if you wing it you fail."

    Of course, a determined decision to not disclose what you're really doing to a seller helps.

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y
    Originally posted by @Frank Hinck:

    @Jerryll Noorden

    I can’t wait for your Guru course to come out. I’ll pay the $997

     Ohh my guru course has been out for a year now. 

    ;)

    And no thanks, I don't work with just anyone. I am really picky. You just don't have the right attitude to handle my teachings!

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y
    Originally posted by @Steve Morris:

    "If you don't have data.. solid data that support this you are winging it, and if you wing it you fail."

    Of course, a determined decision to not disclose what you're really doing to a seller helps.

     If you want to ask me how I do what I do.. all you have to do is say "please".

    Why do you think I am obligated to help you out? If you do not believe I know what I am talking about... you REALLY don't have to my dude.

    Secondly, if you just do a search for my name here, you will come to find I give elaborate step by step by step instruction how EXACTLY how I do what I do.

    Lastly...

    BUT just because I can...

    Good?

    Okiedokie then!

    0Reply
  • Andrew Walker
    OP
    New to Real Estate · Gainesville VA · Member since 2020 · 12 posts · 1 vote
    6y

    @Jerryll Noorden

    Thanks for your very elaborate feedback.  You obviously know how to find motivated sellers and it seems you're good at what you do.  I appreciate your advice.  That's why I got on this forum, so I can learn from other investors who are successful at this.

    Yes I am all about thinking for myself.  I'm an entrepreneur, so thinking logically about my decisions is what I do every day.  But I also like to learn from others who are more experienced.  

    That includes you.  

    Sure, your tone may seem a bit aggressive, but I know your intentions are good.  What you are saying does make sense, as I am also venturing down the avenue of SEO.

    Is this the strategy you recommend to start with?

    I'm open to using all the marketing I can to find motivated sellers.  As a newbie, now is the time for me to experiment to see what works and what doesn't.  That way I'll know what strategies to keep using.  To be honest, I've actually gotten some calls back from my postcard campaigns in the past, which is why I keep using it.  

    But I'm definitely open to other types of marketing.  Especially online.

    I appreciate your input...keep providing whatever value you are willing to give.  I'm here to learn and connect. 

    Thanks.

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y

    Yo man...

    Aggressive... maaaybe.. I see it more as no time for sugarcoating, no time for walking on eggshells, I say it as it is straight to the point in your face. If someone does or says something wrong, I will say "Yo, you are a good dude but what you just said is utter BS, here is how it really is", then I show stone cold evidence and proof.

    If people can't handle this, it truly is not my problem nor do I care. 

    But yes, I admire that you can extract the point and learn from the solid evidence backed data I am providing. It truly is a skill you need to posses to filter through all the clutter and utter BS here on BiggerPockets.

    So yes you start with a website. Then you make it credible.

    Once it is credible (if you do a good job at it) you can finish that task in a few weeks.

    Then immediately start a marketing campaign either facebook ads or PPC.

    PPC is better than Facebook as it still drives motivated sellers. Not as good as SEO, but better than Facebook.

    This because with PPC people are still looking for you. With Facebook, I call it an opportunistic click. They weren't specifically looking for you. They happen to see your ad and if it resonates enough (or if the ad picture is pretty enough) they click. Less quality.

    SEO is top, no one and nothing can beat fully organic traffic.

    Start there, be patience. Think and you will be doing 6-figures/week soon enough!

    ;)

    0Reply
  • Andrew Walker
    OP
    New to Real Estate · Gainesville VA · Member since 2020 · 12 posts · 1 vote
    6y

    I appreciate your input sir.  I already have a website and have been doing some SEO, and learning as I go.  So your feedback was right on time.

    Thanks, I will be continuing my journey down the SEO marketing avenue.  Any idea on where I can get some assistance for SEO marketing for investors....?

    ;)

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y

    Do a search for "Forced Traffic And Conversion Strategy".

    And you will see ;)

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free