Start up costs and where to put money

[Mike Lee]

Okay...so I've read a few books and still am continuing to read. The semester just ended so I have much more time now over Christmas break. I've also been reading on these boards (btw...any other boards recommended?). I still have yet to go to a REIA meeting. I know I have to build my buyers/investors list, and I also have to see a RE attorney to run my purchase agreements and assignment agreements by him/her. I still have to make connects with a title agency. In other words, I still haven't even started. I'm putting together a spreadsheet to figure out what the start up costs are going to look like. I understand that as a wholesaler, a good deal of my success lives and dies with marketing/networking.

1.)Out of curiosity how much did most of you wholesalers start off with? Would $500 suffice?

2.)In terms of percentages, how do you recommend one break down his marketing budget? I'd like to use every method known to man, but realistically 100% direct mail letters/postcards will probably be my initial method. I just see it so efficiently in terms of man hours I'd spend pre qualifying leads. These leads would be coming from the common subscription based foreclosure sites.

3.)What methods have shown you guys the greatest ROI?

Any help is greatly appreciated.

thanks in advance,

Mike