Wholesaling (leads what to do with them)

[Meshack Tapales]

hello! my name is Meshack, I am a new BP member and so far loving all of the info that I am learning

off the site. 

I am currently focusing on wholesaling and have attended rich dad 3 day seminars and invested a few hundred dollars already on getting "started"

as many know already unless you are able/willing to cough up 12k you can't continue. 

I've went ahead and tried to start on my own. I will be signing up at my local REIA and will also try to network with a few people in my area. until then I'm shooting arrows in the dark.

Here is what i have accomplished so far:

1. created LLC (want to make it a business)

2. I have acquired 30 leads "driving for dollars 

3. bought 400 leads of absentee owners around my area (high equity, SFR)

QUESTIONS:

A. the addresses I have for driving for dollars, how do I exactly pull up the phone number of the owner of the home?

b. the 400 leads of absentee owners. Should I direct mail or hand write each one to stand out?

c. where do I go to obtain enough info on a property to do the numbers on a deal?

or do I just wait for the owners to call me?

Im new but very eager to get a deal. I kind of understand where I am going but these questions I cannot seem to answer. 

thanks, Newbie 

[Pratik P.]

@Meshack Tapales

Here's my advice. 

First off, no more spending money on seminars, mentors and business entities. Every single dollar you spend has to be directly related to getting you a lead. Use free resources like BP podcasts, blog posts, articles and YouTube videos. Check out Sean Terry on YouTube. 

In my opinion, absentee is the worst list you can get right now. Everyone gets it and has easy access to it. Go after difficult to obtain lists like code enforcement, probate, tax delinquent, eviction. The harder the list is to obtain, the higher quality it will be. 

A. If you're trying to cold call, you'll first need to obtain the owner's name from county records. Then you can use something like Intelius to find their number. But the numbers aren't 100% accurate. 

B. I'm sorry but I wouldn't waste time on that list. You can hand address the letters but don't hand write the content. You're wrist will fall off! 

C. You can simply use Zillow or Redfin to find comps and determine an ARV. Your most important numbers will be ARV, Rehab cost and MAO(maximum allowable offer).

You can definitely cold call people, but direct mail will be your most effective marketing strategy. Do both! I got my first deal by cold calling a returned letter. 

1. Focus on obtaining difficult lists and mail to them consistently. 

2. Learn how to figure out ARV and estimate rehab costs when you go on appointments.

If you can do those 2 things really well, you've done most of the work! There are little things like getting good contracts, negotiation skills and lead management.

Oh and don't throw away returned mail. Those are your best leads!