Getting into Real Estate Wholesaling Issues, Help me Start!

[Aaron Phillips]

Okay, so I have been looking into getting into Real Estate Wholesaling for a long time now. It seems to be to fitting to what I have been wanting to do since I was younger. Real Estate in general is such a passion for me, and I've always been driven to get into it. Unfortunately, I don't have the funds yet to do such as being a cash buyer. For the time being, I think Wholesaling is a great place to start and build some financial stability before taking on bigger jobs. 

I would like to add in this post that I have been trying to get my Real Estate Licenses in my current state, West Virginia, for about 4 years now. Unfortunately, the closest school to provide the course hasn't had an instructor for as long as I've been inquiring about it and the next closest class is close to 2 hours away. So I will also have to hold off on this as well. 

Now for the Wholesaling Issue. I have been actively trying to look for properties that meet the following criteria;

-Boarded Up
-Needs Maintenance 
-Abandoned
-Complete Rehabs
-..or the property is just an eye sore

The area I currently live in doesn't have a lot of this. For the ones that do meet one or more of the above aspects I have had little to no response rates from the current owners. I just can't seem to articulate the right words, or deals to get the property under contract. However, back home in Cincinnati, OH you see all kinds of property that meets them aspects. If you can't find one, it's because you aren't looking. & Yes, I have started actively looking in that area in the event I find success there, and need to move back. 

I'm at a complete loss, but my motivational side won't allow me to give up. I am really hardworking, and driven to be successful in this line of work but I just can't seem to get my first breakthrough. I already have contacted a closing attorney in the event I do get everything going, I have a legal contract for when I do find and sell properties, and I have already talked to a couple cash buyers.. Now the problem is finding motivated sellers, and getting them motivated sellers under contract. 

I'm seeking desperate help BP! I want to be successful in this line of work so bad, and I thrive for deals. I drive around looking for properties I see to be a good fit, I look on Craigslist for "Handyman Specials" , "Cash Flow Property" , "Motivated Seller", etc.. Am I looking in the wrong area? Should I move back home? What am I doing wrong? How can I obtain my first Wholesale deal? 

I don't mean to sound so desperate, and nooby, but the fact is, if I don't ask these questions and get some guidance then I'll be stuck in the same rut forever. 

[Cornelius Garland]

@Aaron Phillips I definitely understand your frustration, and you sound extremely motivated to get your first deal under contract. Based on the issues you indicated in your post, it seems like you have a marketing issue. You are not contacting the amount of sellers you need to in order to land a deal. I started out driving for dollars and looking at abandoned properties; however, I quickly realized I wasn't marketing to the amount of sellers I needed to in order to close a deal. You need to get a list and either mail or cold call it. Driving for dollars shouldn't be the backbone of your marketing unless you have a ton of leads coming your way every day. It's an extremely manual process and scaling by just locating abandoned properties is not scalable.

My guidance to you is to go on List Source and get a list of properties you want to actively target in your desired zip codes. After you do this, I would mail this list or either find the phone numbers and cold call. There are a few direct mail vendors on BP that can print your letters for you. I suggest having a marketing budget of at least $1,000 per month. This may seem like a lot when you haven't conducted a marketing campaign, but please trust the BP community when they tell you it works. You just need to make sure your list is solid from the start. Please let me know if you have any questions. I will gladly assist! Don't get discouraged because you only need to tweak a few things to get your first deal.