New to Wholesaling. Need Guidance!
Hi everyone,
I'm relatively new to wholesaling and am looking for some advice. I operate out of Northern Virginia and have been targeting areas here and in southern Maryland (near Washington DC). Despite cold texting for the past three months, I haven't seen much success. I've reached out to about 50,000 contacts during this period but a few potential sellers a came across seem to already have realtors.
My current approach involves using Deal Machine to identify potential properties by zip code, focusing on those with unknown sale dates or built dates before 2000. I look for high equity properties, expired listings, vacant homes, properties owned by tired landlords and other such filters.
When I find a property, I contact the owner with this message:
"Hi
This is Chetan. I wanted to check if you are interested in selling any of your properties?
I buy property in AS-IS condition. That means no repairs or cleaning needed. Moreover you don't have to pay any fees, commission or standard closing cost either.
Let me know if this interest you. You can also reply to this text if you have any questions or if you would like to receive a no obligation FREE estimate of your property.
Thank You."
Moving Forward I'm considering switching to PropDeals and BatchLeads for property finding and skip tracing, respectively. However, this would increase my costs by about $4,000 a month (about 3K would be spent on skip tracing).
I'm also exploring the idea of wholesaling in other states instead of in Northern Virginia and south part of Maryland. What markets would you recommend?
I'd greatly appreciate any feedback on how to refine my strategy, especially since I'm limited to using text blasts due to my schedule and budget.
Thanks for your help!