All Forum Posts by: Gary McKissick

I just watched this webinar.  As I've watched many a "guru" intro webinars it gives you a bunch of dvds on how to wholesale/flip leads.  The guru who is selling this program is Rob Swanson...distant cousin to the infamous Ron Swanson.

Its  seems slightly different than bird-dogging/property locator.

It made me think, since REI is becoming more and more competitive and a big way to generate leads is direct mail marketing using various listing source sites. Could one build a list of wholesalers who use lists, buy the lists and then sell to the wholesalers who would be interested at a discount.

Example: Buy list of absentee owners for say $1000, flip that list to say 4 wholesalers for $500 each for $2000, or $1000 profit.  Don't know the legality or how ethical that is but essential that's what it micro wholesaling seems like.

@Cody Alexander

@Michael Quarles

I have a similiar question about yellow letters.  I have my list/spreadsheet of people who I want to send yellow letters too and about to start my marketing campaign.  When picking a template you can upload your list. Is it as easy as uploading the list and Yellow Letters fills out the names of people, addresses, and other info that can change from person to person and sends them or is there more involved?

How do you go about pulling that data @Dev Horn?  Still new to list source and I'm having a hard time figuring that out.  Thanks in advance.

@Dev Horn  Thanks for the reply.  How does direct marketing work in DFW? one of the areas I have in interest in investing in as I use to live in Dallas and still have connections there.  Everything seems to be a lot more affordable there compared to Denver.

@Arlan Potter

I was just building a list with certain parameters i.e. 1-3 bdrms, market sale date 1900-2010, absentee owned etc. 30-100% equity, stuff like that.  Just trying to get an idea of how much lists costs.

I am new to investing and ready to jump into my direct mail campaign.  I have very limited capitol so trying to find any ways to cut costs.  When I go to purchase the list it shows in detail what everything costs.  My question is what is the "Appended Output Fields/Standard Mortgage Leads" entail compared to the criteria stuff?  I can remove the "standard mortgage leads" so I'm curious if you need it or not.  It cut the list costs in half which is something that'll be beneficial if I am going to spend 500-1k over the next 6 months doing this campaign. 

Picture of what I am talking about

See everyone there, look forward to meeting the great minds behind BP!

@Ryan Dossey

So it seems you spend $500+ for marketing.  Are you mailing out monthly?  Also, I heard it takes sometimes 5+ hits to start getting some results.  So if I mailed monthly at 5x500 that's 2500 before  possibly seeing results.  I don't want to be results orientated but what are your options if you don't have an extra 500ish a month to put towards marketing?  Are there tax benefits/write-offs involved in marketing?

Hello bigger pocket community, 

Ive been reading about real estate for a year or so now and have been looking at this great site for some months.  Now I am ready to take the next step.  With little to no start-up cash I revamped my business plan and realized wholesaling is a good option to start with (although a lot more work than originally anticipated).  

My biggest questions regarding wholesaling are below. I understand the basics of wholesaling but now I'm trying to figure out the how and the finer details.

1.) Rehab costs:  For someone who knows very little about this subject whats a good way to get a grasp on the potential rehab costs for a flipper when trying to get a property under contract?  Books? Articles? etc?  Or is it just something that takes time and real world experience to master.

2.) Marketing

Yellowletters: Looking at templates whats all associated with getting yellow letters, do you just get sent x amount and then you have to mail them out, or do you give them your various lists and they mail the letters for you.  Estimate on costs per month?

Building lists:  Use something like listsource/property radar? Again estimate costs, or would digging through county records be the better choice, or possible both?

Those are my two biggest questions as of right now but I'm sure others will follow so any information that one can think of would be beneficial.

Since I'm here I would love to start to network with some of the investors in Denver who are getting positive results.  Wholesalers, flippers, buy and hold people, etc.  Need to start building a buyers list too and would like to talk to the wholesalers or people who know some wholesalers to find out what works/what doesn't in the Denver market.  Rather it be a 5 minute conversation or a potential budding professional relationship anything would be greatly beneficial.  Thanks in advance and PM me if you would like to chat.  Have a good day everyone.

-Gary McKissick

He seems sorta delusional if he is asking 30% more than comps with that much work needing to be done.  They say if you don't insult someone on your offer, than your offer is to high.  I say throw the offer out there.  He probably won't bite but if he gets no other offers in the next few months he may be coming back to you.  What's the worse that'll happen...you offend someone with a low ball offer.  So be it.

@Christopher Beale  @Adrian Tilley  @Nilesh Makhija 

Thanks guys for the sound advice, I appreciate it! I think I'll hold off for now for the reasons you guys mentioned and I can just have a bunch of clauses in tenant application forms to limit the possibility of getting sued, which is probably one of my bigger concerns for starting out.