All Forum Posts by: Brandon Krieg

@Mike Mariotti - I have used excel for this kind of functioning.  For instance, you can simply make tabs with each of your lists.  

-Arrange your data so you have similar formatting for each list.  Make sure names, addresses, etc. are formatted the same way.
-Add a column for a unique identifier on which TYPE of list (i.e. all tax delinquency properties have a column that labels them as TAX, all driving for dollars properties have a column that labels them DFD, etc).
-Combine your separate lists onto a NEW tab, called Master List or something.
-Sort your Master List by your desired qualifier (address, property owner, whatever).

Now, you can see which properties are 'tagged' under multiple categories.

Assuming you get your data in similar formats, that should be pretty workable (and free if you have excel).

Now, if you're working with a mountain of data, and the formatting is wildly different, this probably won't work for you.  But that has not often been the case in my work.

@Sardar Mustafa Khan - I have always found the most success using the methods that @Christopher Lynch @Lydia R. and @Jacob McAllister suggested.  

Despite all of the technology, this is a PEOPLE driven business.  People want to work with others they know and trust.  A great starting point is your local investor groups.

BUT - you can't just show up once or twice, collect business cards, and think that you've 'checked the box.'  You need to go consistently, interact with people, and help them solve their problems.  You are better off picking one or two networking groups and going EVERY time than picking 6 and going to each one twice a year.

Of course, there are other methods.  BiggerPockets is one of them.  But if you need bread and butter buyers, nothing beats in-person interactions.

@John Loscalzo - Great question!  That situation does happen sometimes.  However, it is more rare than the other options.  

I find that most houses need something.  Sometimes it's not much, but there are very few true 'paint and carpet' rehabs in the world.  I've been at this for several years, and only come across a handful of them.

Also, in the situation you're describing, it sounds like you would want to flip it to an end buyer. In my perspective, that's actually a different game entirely than 'wholesaling.' And if you would want to really get the maximum value for a property, you would probably want to list it on the MLS, which would require you to own it outright.

In my mind, wholesaling ends with another investor purchasing the property, not a retail buyer.  It sounds like you're describing more of a (very easy) flip.

Does that help?  If I didn't answer your question, let me know.

Adding on to what @Angela Russo said... no matter what marketing method you pick, TRACK YOUR RESULTS.  For instance, if you are doing mailers, track where you're sending them, your response rate, deal rate, etc.  If you're doing bandit signs, record where you are putting them, the number of calls, and your number of deals.

Online advertising makes this easy, as Angela said.  But just because it's tougher with the other methods doesn't mean you should ignore it.  (:

@Roberto Cervantes - 1-4 unit houses are typically eligible for FHA financing, which can reduce your down payment substantially. In addition, there may be local banks or credit unions that offer lower-money down loans without the FHA requirements. I know one around me offered a 0% conventional for a while. You may not get THAT deal, but options exist for you.

As for 'better suggestions,' that is a huge, wide topic, and it's hard to make any suggestions without knowing your long term goals.  What do you want to do with real estate?

@Deonte Palmer - I agree with @Daray Olaleye.  The 'best' marketing method depends on what kinds of deals you are looking for.  Are you looking for a house in a specific neighborhood?  Are you looking for maximally motivated sellers?  Are you trying to find rental opportunities?  Great flips? 

All of these have different answers.  In addition, there is huge variation on the amount of time, money, and energy each method takes.  If you would like to clarify, I would be happy to put in a clearer two cents!

@Jason Tyler - Really, they want a lot of things.

-Good deals. 
-A smooth transaction. 
-To ONLY receive deals that fit their criteria (i.e. don't send flippers buy and hold houses if they don't want them)
-To know that you are trustworthy
-Professionalism and quick responses
-To not feel like they are just a 'number' on your buyer's list

There are many more, but there's a solid start for what should be an interesting thread...

Good ideas @Frank Necatera! To @Scott Sanchez - 

1.  Look for both at the same time.  You need both to make a good deal, so you might as well get started developing your skills for deal finding while you meet buyers.  Be consistent in going to local networking meetings (i.e. go every time), and your list will grow quickly.  Take notes, and create a system to store their contact information and investment criteria.  Then, when you have a deal, look at your system.  If none of your investors meet a particular deal, talk to the 'big fish' in the area and see if they know anyone who's looking for a deal like that.

2. @Frank Necatera pretty much nailed this one.

3. I wouldn't worry about a title company until you have good deal under contract.  However, you need good contracts, so find a quality RE lawyer.  The local meetups are again good sources.

4. Ask the lawyer that you found in #3.

Hopefully that helps!

@Jeremy Silva - I started a bit older, but I looked young.  Many times people (sort of) jokingly asked if I was old enough to buy a house.  You can make it work.

I would recommend working extra hard to come off as professional.  Wear business casual (or higher) to all meetings, have quality business cards, a good website, etcetera.  When you don't have any silver hairs to add to your credibility, people will look to other external cues to judge you.  It's not really fair, but it's the real world.

Other than that, work hard, be professional, and go get great deals.  Network regularly, read books, take classes, and WORK.  You can do it.

@Lorenzo McKinney - I will echo what @Grant Rothenburger and @Ron Collins said... local meetups are great.  People like to work with people they have interacted with personally.  So find your local groups, and go EVERY time.  This builds consistency, and will allow you to systematically add to your buyers list while getting more comfortable with the industry.

Most people in the industry know what wholesalers do.  However, you can just keep it simple: "I like to find off-market deals at great prices, and then offer them to investors.  What kinds of properties are you looking for?"  There's no magic... just human interaction!