All Forum Posts by: Brian Cam

No shame in that chris, we all have to start at some point.   I would recommend reading the beginner's guide that Bigger Pocket offers, and reading forum posts.

Best of luck

That's easy Elizabeth,

1) you can always say no or terminate a contract (make sure you have clauses in there first)

2) If you come across 2 great deals, you can always make some money by giving it to another investor.

Having too many good deals is never a problem, in fact, if you get stuck you can give it to me lol

In my opinion I have found a tremendous benefit to working with someone else (as long as they are involved and being productive)

1) having a partner gives you someone to bounce ideas off

2) To me it's more motivating (ex, let's see who gets in front of more people this week)

3) They can help finance your growth  with you.

As long as you and your partner are motivated and skilled enough to succeed, you will do more than twice the amount of business that you would do alone, and make half of that.

Hope this answers your question.

To wholesale you need at least a "Purchase and Sale Agreement" and a "Assignment contract"

You can find these in the "fileplace" section of Bigger Pockets (Under resources), or you can google and find them.  Additionally, you can get a purchase and sale agreement from a real estate agent in your state and modify it.

Just to be clear though, you should add in some clauses to your contract that give you an out if you can't find a cash buyer.  I drafted up some contracts and had a attorney that practices in my state look over them.

Best of luck

I use conversion rates for each type of lead (pre foreclosure, probate, etc) from mailings

response rate per type of mailing piece

response rate from bandit signs

conversion rate from lead to offer

conversion rate from offer to deal

There are a number of others you can do: ROI per marketing method, sales cycle, and a bunch of others. The key is to focus on tracking leading indicators (because those can help you pivot and adjust) not the lagging indicators as much (because that is what happened already and those cant be changed).

Feel free to reach out if you are looking for any other ideas

Hello BP Family,

Lately my full time job has been taking all my time, and my wholesaling business is suffering.  I struggle to create QUALITY leads, and I feel like I am  trying to create deals when they aren't there.

To further complicate matters, I don't have much for a marketing budget.  This means I can't simply throw money into mailing thousands of letters.

Can anyone offer me so good advice on what marketing  I can do with little/no funds and no time?  Potential list creation strategies? online marketing? potential partnerships with professionals?

Any and all help is much appreciated!!!!

 Network Marketing is merely a pyramid scheme.  That's not to say you can't make money (some people, especially those that are at the top of the pyramid make good money).  After looking into a few I realized that they require a lot of time, it takes a lot of time to make decent money, and the margins are small.

I would much rather get 1 wholesale deal a month and make 5-10k than to spendhours a day recruiting people and make a couple hundred per month for a year or two.

That's just my 2 cents worth, you need to decide whether or not it's right for you.

 Hey Gabriel,

First Welcome to BP. I would suggest you find an agent/broker that you can trust. Then the next step is to take the exam and pass. From there you can use your license to work in conjunction with wholesaling. For example, you send out 100 yellow letters, anybody that contacts you looking to sell quick for cash becomes a wholesale deal to a cash buyer. Anyone that responds with a nice house, and looking to get retail dollar amount becomes a property that you list on the MLS with your broker.

It gives both you and your leads more options, plus having MLS access sets you apart from other wholesalers.

Feel free to PM me if you need any help!

Hey Nathan,

I have become very good at tracking down the owners of abandoned properties (in my area at least).  If you PM me the address I can do some quick research and try to help you out.

If not then I wish you the best of luck!

The first step is a little education.  Focus on what area of real estate investing you want to enter (wholesale, fix and flip, buy and hold, etc.) then learn as much as you can as fast as you can about that subject.  You can do this through the Bigger Pockets beginner guide, or by google.

Once you understand the basics just jump right in.  Don't try to learn everything before you get started or else you will never begin.  Just be safe if you are investing your own money.

Feel free to reach out if you need any help In the future.