All Forum Posts by: TJ Sayers

I just got started a few weeks ago and since then I have sent out around 250 yellow letters to absentee owners in my town. I have had 20-25 calls and 2 of them are potential deals. I am hoping to get more calls today since I sent out 65 letters 2 days ago.

Today, I printed out another 70+ yellow letters to out of state absentee owners. I found that the out of town owners call back more often and they are more willing to talk about their property. Obviously, my sample size is very small right now so this may just be coincidental. I am getting more and more excited with each batch that I send out. I feel good about this and am very hopeful.

Any advice?

Generally speaking, how many yellow letters would equate to one deal? I have sent out close to 500 yellow letters and have had 30-35 calls, but none of the sellers were motivated. I know that the letter to deal ratio will vary depending on market conditions and location. I will keep grinding away at sending the yellow letters but would like to have an idea what I should expect. Thanks in advance for any advice given.

Thank you guys for the info. Braden, what do you mean my letter needs to stand out? How do I make it stand out?

This is my first time posting and I would like to get some feedback on wholesaling. I am interested in wholesaling and I have read through this site and listened to hours upon hours of podcasts and youtube videos. I do know that it "sounds" easy, but I am sure that actually making money wholesaling is probably a lot of work. I am willing to put in the hours, energy, and effort into building a business out of Real Estate and thought it would be smart to learn as much as possible before getting started. I do have a lawn care business that I run during the summer months, but that is about to slow down significantly because of the seasons changing. I am looking for advice for getting started in Real Estate, specifically wholesaling. Unfortunately, I do not have a whole lot of money to invest into a fix and flip property but I do have enough saved to do some marketing.

Real Estate is something that I really like and want to do. I actually enjoy driving around and looking at properties to fix up. The problem has always been that I never have been able to save up enough money to buy a house to fix and flip or hold and rent.

It seems to me (from reading posts on this site) that a lot of wholesalers develop a bad name because they do not know what they are doing. I want to run a first class business and do things the right way. I really do not want to establish a bad name in my community. However, I also know from life experience that the best way to learn is to do. I have a friend who is a real estate investor (fix and flip and buy and hold), and I have spend many days in his office talking to him and riding around with him trying to learn as much as I can about the business. I also count my own home as experience. I bought my home as a foreclosure in 2010, and I (along with my dad) put in a lot of work fixing up my house. We ripped out the whole kitchen and a bathroom, replaced all tile, appliances, cabinets, built a deck, replaced all trim, painted, and refinished hardwood floors. I am saying this to demonstrate that I do have a little bit of knowledge of costs of repairs and time frame. My original plan was to flip my home and move out and do it again. Since then, I have got married and living in a house that I am fixing up is no longer an option.

I am sorry if I have babbled on and on, so I will get to my questions.

1) From what I have read, it seems like direct mail will be the best form of marketing. Is that correct? If so, are yellow letters better than postcards?

2) I have never done this before, but I suspect that most sellers will want to work with a Real Estate Agent. Is this the case? If so, how do you handle this?

3) Should I hire a mentor or coach to help me get started?

4) Is there any other advice that you guys would be willing to share with a new Real Estate Investor?

Thank you for any advice that you are willing to give, and I look forward to learning from you guys who have a lot more experience than me.