My first "real" week as a wholesaler

[Adam Hofmann]

Hey BP! I was feeling a little low on motivation this morning so I decided to write a recap of my first "official" week as a wholesaler. I'd love some feedback on what I've done to date and how I can improve my chances of landing a deal.

Operations

• Setup Zoho CRM to track leads
• Purchased large absentee list for top 30 zip codes for real estate transactions (~2000 names)
• Hired 2 people to hand write letters
• Hired 2 people to hand write and post bandit signs
• Setup email automation software

Direct Mail activities

• 1/6 - sent 80 letters (to potential investors)
• 1/7 - sent 100 letters
• 1/8 - sent 200 letters
• 1/9 - sent 156 letters
• 1/10 - sent 100 letters
• 1/12 - sent 65 letters
• today - sent 52 letters
• Results --> 22 phone calls, 3% response rate, mostly to remove from list, two people were "curious" (see below)

Craigslist Activities

• Sent ~2k emails to FSBO ads asking if they would take a discount for an all cash offer
• Results --> no deals

This week

• Send 700 more letters
• Continue with craigslist (maybe a different tactic?)
• Bandit signs up this weekend (100)

I'm looking for help with what to do with properties that aren't an obvious wholesale, but still have potential value. I know the market out here in the SF Bay Area is insanely hot and expensive at the moment so there has to be opportunity if I can get creative. Here are two real examples...

54 Mission Ave, San Rafael, CA

3/3 @ 2500ft2, huge corner lot, mostly original, in the middle of a bathroom remodel. Lives next door and currently rents this property out. Owned free and clear. Owns it free and clear.

1002 Cheryl Ann Circle, Hayward, CA

2/1 apartment, original owner, free and clear, needs some updates, rents for $1300/mo

Is there any value to be created here?

More than willing to partner up if you feel like some magic can be made. Would also love some feedback on my efforts. How should I feel right now? What else could/should I be doing?

Have a great Monday!