Wholesaling - Results So Far and Some Background Information

I started this blog to help keep myself accountable and detail the steps that lead to my 1st wholesale deal.

Here is a brief summary:

 -I have learned alot from reading here at Bigger Pockets.  I bought Steve Cook's course Wholesaling for Quick Cash 2.0 which was good, but I probably could have learned just as much useful info for free had I been more patient and searched through forums.  It did "motivate" me to action and I met some people through his forum that have helped me out.  It's also nice to have all the information in one physical binder.

-I have met some investors (cash buyers) through my local REIA meetings.  Between the REIA, running ads on Craigs List, and calling bandit signs, I've built up a buyer's list.

-I have sent some mailers to abandoned houses (in my town and close surrounding areas) and probates (in my county).  I got several responses from the mailers, and met with a seller on one, who to make a long story short balked at my offer.  I will be following up with her again.  She claims to have another buyer, but I'm doubtful about that panning out.

 -I went back to the surrogate office and spent around 6 hours collecting potential probate leads.  However, I realize that some of the towns in the county will be too high end to find wholesale deals that will work for my buyers.  So, I'll need to take a closer look and only mail to the ones where I think there is a possibility. 

So, my strategy is going to be mailers (probates + abandoned houses) and REOs.

-I met an agent last week, explained what I'm trying to do, and if all goes well she will be sending me properties and their comps in several towns throughout NJ.

-I checked out 2 REOs last Friday with the agent.  One was about to go under contract (if I understood her correctly) and the other was just not worth pursuing (crooked floors in almost every room, close proximity to county jail).

-I checked out a HUD home the week before last.  It was a total mess and seems way overpriced.

 -I have a list of REO brokers in NJ.

Tomorrow, I want to contact a REO broker, set up an appointment and hopefully (on the same day) go check out a property and put together an offer.  If I'm not able to get a same day appointment to check out a property, I will be sorting through my potential probate leads, putting together mailers for the prospective leads, and resending mailers to some of the abandoned homes leads. 

 Please feel free to leave any encouragement/criticism.

 Brian