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Updated over 11 years ago, 05/27/2013
Quick Update :)
I found BP in January. Quit my job 3 months later in March.
Since then, I've made about 50 offers, knocked on doors, put out signs, battled with the post office, sent 1200 yellow letters, and have no deals. boo hoo. I am the happiest, most excited and most motivated I have ever been. Close to a tipping point, I can feel it!
You're doing all the right things, Sean. Keep doing the things you know are right. You are close!
Sean Brennan Keep up the drive, it will happen soon enough.....with 50 offers just wondering what you learned from why those resulted in no deals?
Sean, hang in there. I'd be worried if I had lots of offers accepted. It means I would have been offering to much. Seems like you are on the right track. Keep it up!
Keep plugging away Sean Brennan - you'll get there.
It's easy to get distracted by the huge, whopping success stories that always make the headlines (and then it's easy to think, "What about me? What am I doing wrong??").
Nobody ever gets to those high points without pounding the pavement and trudging through the monotony that you're going through right now.
The ones who succeed are the ones who stick to it. Keep it up!
+1 to all of the above! I've placed 20 offers with no deals and I've been wondering the same... I too have been thinking that I've been uber conservative.. Too afraid to lose money on the first deal I do.
Keep at it though! I believe that once you get the first one the others will be much easier!!!
Sean Brennan reread what Susan Mhone and Seth Williams said over and over again.
Then read them again tomorrow and the next day and . . .
Really appreciate it guys!
Susan Mhone I have a disciplined strategy, looking for good a profit, and haven't found a seller quit motivated to sell. Lots of tire kickers; but, its just a matter of time :)
Sean Brennan Keep at it man, your determination will ultimately lead you down your path to success. Out of those 1200 letters what has been your response rate ?
Sean Brennan don't ever quit and you can't lose. Things will come together if you remain persistent.
Hi Sean,
I'm reading your post, and I feel a little down. I'm not sure why you chose to be a wholesaler, but I have a mixed feeling about wholesaling without value-add. Kind of like people have mixed feeling about realtors that add no value to the transaction and get a big fat paycheck.
To me, a good wholesaler has to be a good listener and a great problem solver. It's hard for a seller to be motivated when a wholesaler cannot solve his problem. I hope you will land a deal soon where it's a win-win situation for all parties. I wish you the best of luck.
@Sean Brennan that's great, l have learned that having a strategy is key. I lost a lot of deals in the beginning because l made offers with no strategy...thanks to BP ...l learned a lot. Lots of motivation here...keep at it!
Ceasar Blackman I dropped 600 last week so I am only confident in the response rate for the first 600. Solid 50 calls or close to 10%. But not many with motivation... although I had a GREAT call today. Best so far. Hopefully it turns into a deal. But in the end I know my activity level is not quite there; but, will get there as I get more efficient. I have big plans :)
Thanks Bryan K.
Minh L. I think you under estimate life. Some people just don't have the emotional reserves or desire to sell via a broker. They would rather sacrifice equity to not have to worry. Emotional pain is powerful. Honestly, if you can service these people you are adding value. On the other hand if someone is in good financial position, has time, and desire to get a great price, no, I am not adding value to them. In the end... the added value to society is the rehabber that I am wholesaling to that improves the property; but, I make this possible by marketing to the distressed seller.
Thanks Susan Mhone
Sean,
You're probably correct that I underestimate life. I guess I will not know the feeling until I'm in their shoes. Hope you will get a deal soon.
Sean, you are doing the right things. Keep it up!
I keep hearing that the first deal is the hardest and once that is under your belt, the rest are much easier. I'll bet you aren't that far away.
Minh L. You're 100% correct on wholesalers needing to solve problems for a seller. That's why you might talk with 500 sellers before you get a deal, 499 of them might not have a problem. A lot of sellers will call just to get an offer to see what they could sell their house for.
This is a big reason why wholesalers need to be great at marketing. Personally, my letter strategically eliminates most tire kickers with just one or two carefully worded sentences. This took me sending and tracking tens of thousands of letters with different ad copies to get it just where I wanted it.
Sean- Keep at it, you're going to get there. I remember when you first started posting and thinking to myself, "this guy will do well".
Braden C. Thanks, I really appreciate it!
That's awesome that you haven't lost focus! Keep it up and in no time you will find what you need. Sean Brennan
Sean Brennan - do you have the rejecting sellers on a systematic re-contact program? They may scoff at your offer today, but in a month may be singing a different tune.
Thanks Carolina E
Yes, David Beard, I've spent alot of time developing a database in Microsoft Access that does capture all the leads I want to follow up on. Thanks for the thought!
Sean Brennan I've known that Persistence overcomes Resistance but sometimes changing one of your variables might help?
How come you dropped the 600:
Found out they sold?
Ran out of stamps?
Contacted them 7 times with no response?
They threatened you?
Restraining Order?
Good luck investing, Mike
Hi Mike Hurney When I said "drop" I meant that I just dropped them in the mail so there hasn't been enough time to adequately judge the response rate. Sorry for the confusion. :)
