All Forum Posts by: Craig Moore

Hi BP,

New investor here and I've got a question here and would like your help/advice. I am beginning the process of wholesaling because I need more starting capital to start buying multi-families in the Boston area. Here's my question:

How much does your marketing dollars make a difference in your success/deal rate as a wholesaler? I have an example:

Person A has $1,000 to spend a month outside of his regular job and outside expenses to send out letters, etc. 

Person B has $5,000 to spend a month outside of his/her regular job and outside expenses to send out letters, etc.

Is person B, having $4K more in marketing dollars, more likely to get a deal than person A? Rhetorical in nature, yes, but I guess my question really is, how much money should you be putting into your marketing campaign? Person B inevitably can send out more letters, but at what rate can we expect him or her to succeed than Person A? 

As I am gearing up to send out letters, (aiming for 1K a month), I just would like to hear how much people are spending and what they are experiencing as a result of whatever budget they have set. Thanks for the help and I hope I made sense with this post.

 I will be starting 1 year later than you (23). This is encouraging to read. Can I PM you for some advice?

 David,

This is awesome. Do you mind sharing your story?

@Claire Trammell Thank you so much for that reply! If I can push the envelope I will. Whether it be 1K or 100K (just kidding), WHATEVER it takes. I am so close to getting my first house, just missing some capital. I think 1K-2K is pretty realistic for me.

P.S. $20K away is using a conventional loan at 5%. If I did 3.5% the number I'd need would be much smaller.

Hi BP,

Thanks for taking the time out to check out this post. I have a scenario here and I'd like to share it with you all. I didn't receive much feedback when I posted it in the wholesaling forum, so here I am.

I am about $20k or less away from buying my first multi-family (age 23). I am so excited and more motivated than ever to get this done this year. However, the capital is missing. Here's my thoughts: I have been thinking about wholesaling, but the one thing that has me lost is, how many letters to send out? 100? 1000? I get that call volume comes into play but I'd really like to take an aggressive approach. How many are you all sending out? What's the average? Any mathematical data if for instance I send out 1K letters? Can I expect to get ONE deal out of that? 2? Thanks for the help guys and gals!

 I was thinking 1,000. I am planning on putting my foot on the throttle as hard as possible. You sent out 40 letters?

Bump.

Hi BP,

I'm wondering how many direct mail letters I should send out during my campaign. What is an average number? What is too low? 1K? 2K? I'm $20k away from purchasing my first multi-family so it may not take more than 2 deals this year to get that.

How do I make a letter appeal to people looking to sell/know people who want to sell? Besides of course nailing away that this is all about them? Thanks for the advice

 @Sarann K. I'll add you/PM you. Also just starting.