All Forum Posts by: Dannielle Spencer

Also I learned from Michael Quarles that going for good equity is best because that list will include all of the probate, absentee etc. I chose absentee with high equity because that gave me the right size for the amount of money I could spend.

I'm not an expert either but I've been doing quite a bit of research on this myself because I'm doing my first marketing campaign this month. I recommend listening to Michael Quarles podcast on marketing (#81) if you haven't already. I think the biggest thing that I've learned so far is that you may need to touch people up to 5-7 times before you start to see a lot of calls come in. Being that you are in a very active area that may actually be to your benefit if you can find a way to stand out with your mailings because the people you are marketing to will already have received other marketing material and your marketing can build on that. When I went to do my mailers I made my own postcards via VistaPrint and pulled a list for my area for 1,300 homes via Listsource. In Listsource I chose absentee owners with 90-100% equity. I'm planning on running a campaign with 1/2 the list for at least 4 months and then adding on to the list as I go. I haven't sent it all out yet but I'm happy to let you know what happens when I do!

Hi Lewis,

You're definitely in the right place.  BP has a ton of great info + a great community.  If I were you, I would poke around the site and check out the podcasts and then come back and ask questions on that info.   You can check out @Brandon Turner's book on No (and Low Money Down which is really good too!  I hope that helps.

@Kyle Brown I wouldn't go off of Zillow to estimate the retail value of the house.  You want to look at comps which are the properties nearby that have sold, that's a better estimate of the resale value + look at how long it took those homes to sell.

Also the most important part of flipping and wholesaling is being able to estimate repair costs correctly.  You'll hear a lot that "you make your money when you buy" meaning that you need to negotiate a good deal.  The podcasts on Bigger Pockets and J Scott's book on Flipping Houses are both excellent resources.  I hope that helps!

@Kyle Brown I wouldn't go off of Zillow to estimate the retail value of the house.  You want to look at comps which are the properties nearby that have sold, that's a better estimate of the resale value + look at how long it took those homes to sell.

Also the most important part of flipping and wholesaling is being able to estimate repair costs correctly.  You'll hear a lot that "you make your money when you buy" meaning that you need to negotiate a good deal.  The podcasts on Bigger Pockets and J Scott's book on Flipping Houses are both excellent resources.  I hope that helps!