All Forum Posts by: Joe Gonzalez

Hey Jessica,

It all comes down to making projections.

In my case, I haven't seen a significant correction in my market so I do project that values have stabilized (and are here to stay) so I do use recent comps. 

Keep in mind that you do have a due diligence / option period where you can get some feedback from your buyers - a macroeconomic analysis should always be part of your due diligence. 

Best of luck. 

Wanted to share this update:

I locked up 6 new deals this past week, here is a breakdown:

2 - Direct mail - (post cards to a code violation list)

1 - Website

1 - Cold Call (12 Unit Apartment)

2 - Billboard Marketing

I can GUARANTEE you that different marketing channels work.

At the end of the day marketing is a simple concept - the whole point is to have conversations with people. Don't overthink it and take action.

Best of luck.

Driving for dollars is great but there are many other efficient ways to collect data.

Wholesalingdata.com - quality & very inexpensive leads that come with phone numbers. 

Propstream.com - A great platform for data and even comes with a national MLS platform which is very useful.

Code Violations - This is a free list of all houses that have had a violation in the past month (high grass, boarded up windows, tarps on roof, etc.) you get this data from your local county office.

These are just a few of my favorites, best of luck!

 At the end of the day wholesaling is sales - you are selling yourself to a seller. It is critical to keep your mind sharp at all times. 

Here are some books I recommend for that:

- The Greatest Salesman in the World - OG Mandino

- Secrets of the Millionaire Mind - T Harv Eker

- The Compound Effect - Darren Hardy 

I would also subscribe to wholesalers on YouTube that are making videos post pandemic (things have changed a lot in the last 2 years).

As far as marketing goes it all depends on your budget. I first started out by driving for dollars and calling homeowners, people have been closing real estate deals by picking up the phone for decades.

More advanced marketing channels are Direct mail, PPC, SEO.

If you'd like to get creative there are radio ads and tv commercials which can help you create a brand.

The main thing is to just stay infront of people and keep making offers.

Best of luck.

Whats going on Mike.

Think of this as just like any other real estate transaction. You will need a purchase and sale agreement with the terms agreed upon - most sellers are okay with giving a due diligence period so I just disclose how long that will be.

I also always have a clause that states that the buyer reserves the right to assign the agreement.

Speed is your friend when wholesaling.

Any hot list (such as a D4D list) should be contacted immediately. A direct mail piece is what I refer to as 'Passive Marketing' - you are simply waiting for your phone to ring. I'm an advocate of 'Proactive Marketing' so I would definitely pick up the phone and make those calls, that's how you win in real estate.

I assigned one of my first deals through the BP marketplace. The key is to use every platform available to get eyes on your deal.

Best of luck.

Absolutely!

Land can be extremely lucrative for the following reasons:

- Most investors are marketing to houses and not land owners so less competition 

- Many land buyers are investors just looking to park their capital in a tangible/safe investment - so it is in demand

- You can wholesale to your typical investor, builder or developer so there are multiple choices.

I'm consistently getting deals locked up (even in a market like this). 

The key is to educate your seller on the process and the convenience of doing a deal with you.

Be transparent on how you came up with your offer, the selling process, and what they can expect. People do business with people they like and trust.

Most new wholesalers would simply just offer more money only to realize that no one wants to buy the deal at that price point. Very ineffective. 

As a seasoned investor, my job is to make the seller understand that they are dealing with a seasoned professional and that I offer them certainty. I do this by educating them on the process.

People will do business with people they like & trust, this is how I consistently beat out inflated offers.