All Forum Posts by: Andy J.

James, if you want to get into wholesales you have a cash buyer right here. I'm always looking for more people to network with, let me know if you're interested.

I believe that having substance and accessibility will trump either scenarios. If you put the information that people are looking for on the website, i.e. pictures, blogs, newsletters, etc.. and they are a good representation of what you're looking to convey, you should have a strong website. I think you will find that when the content is good the website will fit accordingly and present itself as being appropriate for the particular type of business.

I have found that mid-week works the best. On Friday and Saturday, many people don't even open their mail. It's typically mid-week when people start seriously reviewing bills, getting work done, etc... Mondays are for folks to worry about the coming week, Friday and Saturday are for enjoying the weekend. I shoot for Wednesdays.

Simon,

That $200 is just for printing the postcards, that does not include addressing and postage. You're looking at well over $1500 for mailing those postcards.

My lists come from my title company, I tell them what I want, they provide it free of charge. I get an excel spreadsheet with all the info and sort and filter to my heart's content.

I agree with Ryan. However, if the property is in reasonable condition, you have the additional option what we refer to as whole-tailing (mix between wholesaling and retailing). Sell it directly to an end-user, whether it be a landlord or someone looking for a fixer upper for themselves. They will typically pay more than a rehabber will. Their are risks here as well, cash buyers preferred, and be mindful of 90 day FHA seasoning (nothing a lease option can't remediate), inspections, and appraisals if you have an average joe make an offer.

Regardless of your exit strategy, if you purchase, you will also have to take into consideration your increased costs from purchasing i.e. closing costs, title insurance, holding costs, and your valuable time of course.

Either way, if you do go through with this, like Ryan said, you need to have multiple exit strategies in place before you purchase. Can't stress that enough

I use 4x6, full color both sides, variable data printing, $0.365 ea. Response rate around 4.5%. The basics of the mailing list are non-owner occ., and FHA/VA loans for owner occ., purchased prior to 2006, in neighborhoods I like, 3/2/1 or better, assessed value at median +/- 25%.

It's more important to have a good list than it is a good postcard.

I would use postcards mailed to a good list. With this alone, you should be able to get 100 leads per month for roughly $800.

A poor piece of mail with a good list is much better than the other way around.

The 100, 10 , 1 rule isn't hard and fast. Keep in mind that a lot of the deals are not going to come to fruition at your meetings. Don't be afraid to ask what you want for either, if it's not a good deal at their numbers, have them bring cash at closing to make it work. Clearly these aren't as frequent, but they do happen.

Follow up with your leads after you meet with them, and do it often, at least 30% of my deals have come from people calling back weeks or months later saying they're ready now. Keep your name in front of them, mail them something every week or two (less frequent as time goes on) for a year, it will greatly increase your business.