All Forum Posts by: Sam Khamvongsa

Hi, BP! 

I just recently put my first home under contract. As of right now, I'm kind of stuck between trying to wholesale the home off or keeping it and renting it out. If I decide to keep the property, would you recommend I go through a bank or a private money lender? I went for this home with the intents of wholesaling it, but I haven't built a buyers list yet. I jumped the gun on the marketing because after lurking the forums for some time, I figured that I'd try to learn as I go. 

Any help is greatly appreciated!

I've decided to go with listsource for my leads. I was playing with the filters last night & narrowed it to absentee owned residential sfh with at least 40% equity and owned for at least 10+ years. A few questions that I have are,

Is 1000 leads a good amount of leads to start off with?

Is there any other criteria I should filter?

Can I simply use the purchase agreement and assignment contracts provided in the tools section of BP?

Lastly, I've yet to build a buyers list. I've read through the forums where some preach that it's good to have your buyers lined up first before getting a deal under contract. I've also read others who said that the hard part is actually finding the deal itself. I'm going to begin sending out the letter either by Friday or Monday. Any advice on building a buyers list? The process in which I was hoping on going was searching for cash buyers through the MLS. Another avenue of building a buyers list I was going for was direct mailing as well.

Thanks again!

Hi Biggerpockets community!

I've been lurking and educating myself on the idea of real estate investing for a little over a year now. Sadly, I got stuck with analysis paralysis and became stagnant, learning & reading the same things over and over again. Then came the action. These last couple months I started taking small steps towards building a platform where I can start investing. A couple of buddies and I came together and formed an LLC. I'm happy to announce that we are getting ready to launch our first marketing campaign. We just ordered our first batch of bandit-signs. We plan to place about 20 of these out every Friday night in our target areas. We also completed a postcard design that we are planning to use via direct mail. Yellow-letters are also another avenue that we plan on marketing through. Both avenues of our direct mail will be sent out at about 150-200 pieces each/wk. The direct mail will be sent using 4x6 envelopes with a handwritten return address as well as mailing address. We have yet to purchase a list of leads for our direct mail campaign, but are going to either through listsource or agentpro. I was wondering aside from just an absentee owners list, what other criteria should I use to filter the list as we are hoping to start out wholesaling? Also, when getting a home under contract, do we have to find a specific purchase and sale agreement & assignment contract? Or would we just print off a template and fill the blanks?

Thanks for reading! Any insight is greatly appreciated!!

@Brett Snodgrass Thanks again for the feedback! This gives me a good place to start & a direction.

Thanks for the warm welcome everybody! 

@Brett Snodgrass I'm kind of going through the whole "analysis paralysis" thing because of the process of getting cash buyers. Should I start looking for deals before I build a cash buyer list? 

Hi everyone! My name is Sam, I'm based out of the Kansas City area. I finally pulled the trigger on making an account on here. I'm still pretty new to the concept of real estate investment but, I've been reading through the site. I am hoping this will make learning easier as I will be able to interact with everyone! I plan on starting out my venture into this world through wholesaling. I'm currently unlicensed but I plan on taking the course this upcoming summer. Thanks for reading! & if anyone can give me any tips it would be greatly appreciated!!!