Hello everyone,
My name is Ali, and I'm 19 years old and are looking to seriously invest in real estate. I took a year off after I graduated from high school, but I have a passion for technology and I will be going to college for electrical engineering & computer science. I have really wanted to invest in real estate for a long time, but being so young I believed no one would do business with me. I'm past that now, and know the only thing stopping me is ME. I'm looking to do wholesaling, I understand the process and this seems like the best place for me to start. As for goals in real estate wholesaling, I want to be able to make enough for me to live off and pay my way through school, and eventually turn this into a high six-figure or even a 7 figure business. I have a nice chunk of money for marketing to get started with that I have been saving while working during my year off from college.
MY MARKETING PLANS
For marketing to motivated sellers:
-Putting up 100 Bandit Signs/per week on Sundays in different high traffic areas
-Yellow letters + List source for Direct mailing leads (Absentee Owners, Vacant Houses, Tired Landlords)
-Court House once a week for Probate Estate lists + Handwritten Letters to make it more personal (They obviously just lost someone, don't want to make it seem sleazy)
-Craigslist Ads + Squeeze Page (I'm doing internet marketing right now also, people who would put the time in to go to my website and fill out their details are MOTIVATED. Plus when I call, I will have their information and I don't have to ask many questions, so I can just schedule appointments to see the house
-Hire people on craigslist to drive around with my custom made stickers on the back of their car window + use a toll free 1-800 number with voicemail message to track leads from drivers. Stickers would look something like this (Just an example):
For marketing to CASH buyers:
-Post bandit signs around properties and at busy intersections
-Craigslist Ads + Squeeze Page for building a cash buyers list, so when I have a property under contract I can just blast out a message to my entire lists in REAL TIME
-Possibly using a Realtor to post property up on the MLS (or if I have my license, do it myself)
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I live in Cleveland OH, I am going to get my RE license soon before I get started in this business but here are my questions.
QUESTIONS:
1). Where can I get up to date contracts for wholesaling in Ohio (Assignment contracts)?
2). What do you guys think of my plans, and what are your recommendations for me?
3). If you are located in the Cleveland area, how active is it, and how difficult is it to wholesale properties (meaning how hard is it to find CASH buyers)?
4). Should I set up an LLC before I get started, or just finish my first deal?
5). Any effective scripts that I can use?
6). How do I take care of taxes on wholesale profits, and what can I expect to pay in taxes living in my area?
Appreciate the help guys!
