30 day Wholesaling update

[Silvio L.]

Hi all,
A month ago I started my wholesale business. This is my 30 day progress report:

Deals: 0
Leads: ~65

Marketing - ~550 yellow letters (response rate ~12%!), 25 bandit signs (created but not posted yet), catchy domain name with squeeze page (not toally happy with it so I'm reverse engineering it). Also paid a fiverr for relevant google keyword research. Posts on Craiglist and Ebay classifieds.

Bird Dogging - drive around approx 1-2 hrs per wk writing down addresses of distressed properties in neighborhoods near where I live.

Networking - connected with 3 REI friendly agents, ~4 cash buyer investors, 2 potential equity partners, 3 contractors, and 3 other wholesalers. Most importantly, I began working with Ibrahim S, a BP member/investor in my area whom I consider my mentor.

Tools - Google Voice for call screening, Excel for data and lead ogranization. Kompozer for web page design. Aweber for lead capture. Was using Property Pilot for property owner data but free trial ran out :(

Continued Education: Sean Terry's podcast, Matt Thereau's Podcast. Bigger Pockets blogs and articles, local REI club meetings, and picking Ibrahim's brain.

I've visited 7 houses and made 7 offers. I haven't been afraid to negotiate or make low offers.

While I haven't done a deal yet I've come across a few 'near misses' where the sellers just wouldn't agree to my price.

I'm not the least bit discouraged though. I know I have good systems in place and I never truly believed I'd do my first deal in my first month. Just thought I'd share so other new wholesalers don't feel discouraged. Don't worry - your first deal will come, as will mine!!