All Forum Posts by: David Bokman

This business is all about sales and marketing. I always tell people if your not marketing for at least 6 months + then don't even bother!  Personally, I wouldn't of sent that many out your first time around, would of went with a much smaller number and made sure to hit those same people every month for at least 6 months!  Sometimes its the 4th or 5th letter that inspires them to call, not the 2nd. Unfortunately its also a numbers game. If your in it for the long haul then put systems in place, mail to different lists and track everything. Just my 2 cents.

If you don't have a budget for at least 6 months of marketing than I wouldn't bother. The min is at least 1000 mailers EVERY month if not more plus all the other ways to market (social media, craigslist, website, etc etc etc..).

I always tell people that wholesaling is a sales and marketing business, just like any other business....without leads you have no deals which means you have no business! You have to always keep trying new things and also monitoring what works and what doesn't. Have a plan of attack, don't just throw money around and hope someone calls you back.

There is nothing to be nervous about....it's all about the numbers! Just like real estate agents they are not all good...same with wholesalers. If you understand the numbers and they present you a good deal thats all you need to know. You should make sure title is good, most likely it's gonna have to be a cash deal as most wholesalers don't know how to close on a deal with a loan. No need for realtors to be involved.

FYI. most realtors already work with local wholesalers in there market, thats how they usually find off-market deals. Smart investors work with both agents and wholesalers if they are not already doing there own marketing.

@Robert Kershaw Welcome to the BP community. I'm a local investor and very active wholesaler in the Philly region and surrounding counties. Feel free to connect anytime.

Best,

David 

@Brent Griffin I do everything for marketing (mail, online, social media, paper, etc etc) you have to explore all avenues. As for leg work....I have a team around me including realtors, contractors etc etc...so it doesn't take me very long to run comps and evaluate a property. Without access to MLS I would not try to wholesale a single property, its the only way to get reliable comps. If you don't have access to it I would suggest you try and buddy up with a investor friendly agent who your willing to compensate for assistance. A lot more to wholesaling than most people will tell you....

I have closed deals as quick as 2 weeks. Unfortunately there is no way around the title search unless it's done way in advance.  Even if it's 30 days banks take WAY longer and have more restrictions....the loan could get denied vs. a cash deal won't! But if your working with a reputable title company it can be done within 2 weeks or less.

Wholesaling is a sales and marketing business......if you have the skillset and the marketing budget than go for it, if not I would highly reconsider. Without leads and getting the phone to ring you have no business. People don't seem to think about that at all when it comes to wholesaling. To answer your question good wholesalers bring consistent deals 30-70% below ARV....that is there value!

@Rafal K. Welcome to the BP community, I'm also a local investor and very active wholesaler in the area. If your looking for off-market properties be sure to link up directly so I can add you to our list.

Best,

David B

There is no such thing as a "wholesaling contract".....all you need is a stand real estate sales agreement, preferablly one that you can modify to fit your needs.

@Joe Cusick Welcome to the BP community. I'm a local investor in the Philly area and also very active wholesaler as well. If your looking for off-market deals be sure to connect with me as well.

Best,

David B