All Forum Posts by: Densil Brown

Hi BP community, I have been wholesaling for one month and am eager to closing on my first deal. I like the possibilities of creating through real estate through so many methods and allowance for financial freedom. Enough about me though.

I’m wanting help budgeting $1000 cash flow for scaling my wholesale business. I’m aware of marketing being the majority of that budget. How would you target that marketing and would you use virtual VAs?

Im interested learning what other early wholesaler experiences were like. I’m focusing on virtual and will eventually start focusing in my local market NYC. Though cost are expensive considering my starting point. Anyone with experiences they could share? Any advice on building a sustainable budget would be appreciated!

Thank you.

-DB

Good afternoon Densil,

Is this a monthly budget of $1,000 or are you looking for the best way(s) to use this $1,000 to kickstart your wholesaling business?

A couple of recommendations here:

- Invest in software: i.e. dialers, CRM, & property data platforms. This could run you anwhere from $99-399
- Mailers: i.e. Hand-written letters, postcards and letters for people you've contacted. This can be pricey when you mail to entire list or neighborhood. For starters, I'd recommend only mailing to people you've confirmed to be the property owner. Individual mail pieces can run you from ~ $0.40 - $0.75 depending on the type of mail-piece and size of your order. That could be about $400 for 1,000 address.
- VA: with the remaining $200 or so, I'd invest in a VA to either help you make calls or manage your database. At $200/month, that should get you about 25 hours assuming an $8/hour pay grade. I have hired VAs for less than that and have also paid more for VAs. Until you find the right fit for your business, I'd recommend trying out VAs for 1-2 hours/day. Once they've proven themselves, consider gradually increasing hours, offering incentives (i.e. bonuses) then lastly, increasing the hourly rate.

** These are all rough #'s. You'll definitely want to do your own shopping and due diligence.

There is a lot more to this and you'll definitely want to invest time and resources to creating and improving your internal systems. I.e. Standard Operating Procedures (SOPs) for lead generation, follow-up, marketing, etc.

All the best to you going forward!

Abel

The question was based on one month, though I’m looking for a sustainable process to put in place. One which is profitable and iterable as my wholesaling business grows. Thanks for your response, this seems like a good way to strategize my business. I will into it as you say.

BTW, NY is my local market. I’m in the city if you want to connect. I have deals I’m working on and could always use another investor to work with!

0 Votes

New York City, New York

Quote from @Henrry Novas:

FOLLOWING

If your interested, we can get connected on GA deals, I’m marketing in the area!

1 Vote

New York City, New York

Thank you.

-DB

2 Votes

New York City, New York

Quote from @Dan M.:

Welcome Densil. Where in NY are you located? There are alot of local area real estate investor groups that meet virtually and in person.

Thank you! Dan, it is good feel welcomed. Could you PM me any REI groups that are local in the area? I have joined a few NJ groups lol. Also, my local market is NYC!!

0 Votes

Upstate New York, New York

Hi,

I am an interested investor, looking to connect with investors offline and online. I have not made any deals yet, and am still learning. That has not stopped me from making calls, and connecting with investing communities such as Bigger Pockets. I am happy to be a part of the group and look forward to spreading as well as learning from the community. I am looking for an accountability partner who may be interested in JV.

1 Vote

Upstate New York, New York

All Forum Posts by: Densil Brown

Densil Brown has started 2 posts and replied 5 times.

Post: The $1,000 investor starter guide

Post: The $1,000 investor starter guide

Post: The $1,000 investor starter guide

Post: New to the winner circle

Post: New to the winner circle