All Forum Posts by: Tunde Bakare

Akintunde,

Do something that MOST wholesalers are not willing to do to get deals. Since a lot of wholesalers and rehabbers send direct mail to absentee owners or preforeclosures, do something different.

For example, if accessing the code violations in your city is hard, that's an opportunity. Talk to your city and see if you can access that list. 

Also, cold call all section 8 landlords in your city. Ask them how their section 8 rentals work for them. If section 8 works for them, you got yourself buyers. If they are tired of section 8 tenants, you might be able to buy their properties and wholesale them.

@Tunde Bakare Welcome to trying to get deals in a competitive market. A few comments on what youve done so far, high equity home owners is a very frequently mailed category so those people that you mailed to probably get hundreds of letters like yours. Also 1,000 isnt very many so your expectation that you were going to get flooded with calls was very optimistic. I know this all sounds pretty negative, Im not trying to discourage you at all, just trying to give you the reality so you know what to expect and wont be disappointed. You are competing against everyone and their mother who want to buy property at a discount. If you dont have hundreds of thousands to throw at direct mail try some more cost friendly alternatives. Bandit signs, door knocking, cold calls, driving for dollars, facebook ads etc. Most new wholesalers quit within 12 months of getting started because they had unrealistic ideas about what it would take to be successful. Consistency is key, keep trying things until you find something that works!

@Tunde Bakare How easy was it for you to get the list of absentee owners? That is how easy it is for everyone else including the big guys (HomeVestors, Myers the Home Buyers, New Western, Net Worth...). You are competing with professionals with a seemingly endless budget. What did you do to make yours stand out from their's? If you want a budget friendly way, Bandit Signs, Door Hangers, and Door Knocking are your best bet. Other than those, most are going to cost you money. You can put signs on your car, get a t-shirt that says you buy houses, and post on your own personal social media asking for people looking to sell quick. It costs money to make money so you need to be prepared to spend some.