All Forum Posts by: John Fossetti

Great Questions!!! Hope my answers help!

1) What do you feel are the two most important things for a successful wholesaler business?

Marketing and Negotiating

2) How do you currently improve, increase, or become better at those things?

Find the marketing techniques that you have been successful on and multiply. Each market is different and you need to determine what is working for you and focus on that strategy.

Practice negotiating... Believe it or not you negotiate everyday. If you have children, have you ever said, "if you behave you can get that toy?" If you have, then that is negotiating. Practice everywhere you go just to get used to it. It is not like you will go to McDonalds and say "I See the Cheeseburger is $1.00, How about I buy two cheeseburgers for $1.50" We are accustom to paying what they are asking. Learn the techniques and strategies of negotiating and practice.

3) What two things would help improve your wholesale business or make you more efficient?

Be accountable, get an accountability partner that you need to report to or get together weekly to make sure that you are continiuing to be motivated. Be Consistent on everything, from you logo to all of your marketing material.

4) How do you sell your properties and find buyers?

Network Network Network... And after you are done Networking network some more!!! Once you have your buyers list you should be ready to wholesale to them!

I have noticed the secret to my success of marketing is consistency. You can't send a lead 1 letter and expect them to call. Most of my calls have been on the 3 or 4th letter that I mail to them. I mail to Pre-Foreclosures, Probates, Vacant Homes and Absentee Owners. You need to do research and get their actual mailing addresses because a lot of times it differs from the property address. When I mail to Pre-Foreclosures, I mail to Pre-Foreclosures that already have an auction date. They tend to be more motivated.

Welcome to BP Isaac. Every new and then I get a RI Deal. Let's connect!

I have made $3,000 to $25,000 on a wholesale deal, like J Scott states, only you can determine what the numbers are.

Welcome to BP and Happy 25th B-Day!

This is a great thread. I have been doing the real estate business full time 6 years. I have had my ups and have had my downs. But the positives have totally out weighed any negatives. Good Luck to everyone!

Welcome to BP!!!

It sounds to me like it will be classified as a 5+ property. You will need to research the property more, if there are 2 unattached properties on one parcel of land it may still be considered 1 property or an 8 Unit complex.

Depending on Frontage and zoning the only way you could make it a Fourplex is by subdividing but I would simply take out a commercial loan and utilize the 8 units if you are looking to be a landlord.

Hello Joe, welcome to BP. I would suggest to check out and reach out to some local REIA groups and local meetups there as well as continuing to network here on BP!

Hello @Jim Lally I agree with @Shaun Reilly as Shaun brings up a lot of good points.

It really depends on you and what position are you in. If you happen to have the financial strength to start flipping houses I would suggest that as the reward is much greater.

I will recommend someone starting out to wholesale 2-3 properties a month and once you get the volume going to maybe keep 1 of the wholesale deals to renovate and continue to whole 2 a month to keep cash flow steady.

Whatever you do, never stop marketing or networking. You need to continue to build your business