What Tools Would You Recommend?

Question

Hi everyone I'm currently investing a lot of time in learning how to wholesale from learning how to find the ARV of a house to how to find and or generate lead. I've decided to get into virtual wholesaling to start my REI adventure but I can't decide what are the best tools to start with. Can anyone give me any recommendations on the software they use and any other tools that make your wholesale life much easier?

Rickey Miller Jr · Answer

It depends on your budget Alejandro, if your budget is let's say $500 I'd think you'd want to figure which city you'd want to invest in and also make sure your area isn't feasible either. But let's say you are asking which software. Not knowing your budget look into researching for free on Google to see which areas investors are buying. Once you find a State, narrow it down to a City. Then maybe look on the outskirts of that city so your not flooded with a bunch of competition. Having this be your first time. I'd recommend Texas, Arizona, and Ohio. Those states are pretty well.

Look into building a relationship with Cash Buyers and just asking them what their buying criteria is, then you can go from there by buying a list from listsource and get comfortable with cold calling and having tonality. Having you not being from a certain area you just want to sound genuine and act as if you know the area. Once you have your list skiptrace the leads, and I do not recommend going cheap on your data for skiptracing. Cheap data equals poor contact rates. Role play, role play, role play! Get really proficient with your voice and please express tonality.

Once you get a motivated seller run the 70 percent rule, if your not sure what that is it's (ARV *.70 - Repair - Assignment Fee). Later call the client back after you've done some research in the market and give them a Cash Offer. If they say no it's totally okay. It's a numbers game but you can for sure make money if you are consistent at finding discounted properties and getting great on the phone.

My first two deals I had an out of pocket of $35.63 and hustled and was able to get a check of $1,563. Not a bunch of money but I reinvested my profit and was able to keep getting deals! Let me know if you have any questions just trying to make it easier before I just go out and list all the softwares you in-actuality don't need right now. Good luck Alejandro!

Alejandro Ochoa · Answer

this is incredibly detailed thank you very much for this.