Hey guys, here is a podcast that I was listening to today that I found very clarifying and inspiring with actionable details you can use now to get your real estate wholesale business going. It's from a regular guy who wholesales part time but still does about 5 properties a year. Much of what he talks about in my opinion is relevant to any market.

Based on what I've learned so far the best way to do your marketing is going to be Direct Mail. That is the route that most of the wholesales who I know use to get there deals. They target other strategies too like bandit signs and networking with other real estate professionals like Mortgage Brokers or Real Estate Agents, but DM works with the most consistency.

The biggest challenge is the cost. I've had one investor have to target 2000 absentee landlord homes with 6 letters each over a 3 month time period for 1 deal. That campaign would run you about $4000 - $5000. It was OK for him because he flipped it and made 60K on the deal. I've heard of as low as spending a good $1500 to get 1 solid wholesalable (if that's a word) deal if you use some kick ass copy like Robyn Thompson's Horsey Letter.

I guess my point is, you will more than likely need to spend some upfront capital to get started. But once you are started, spending $1500-$4000 on marketing doesn't mean as much when you get $15K - $30K profits.

I suggest if you are "sardines for dinner broke" pair up with a few other hungry wholesalers like yourself. Pool the money, maybe 2 or 3 of you to get that $1000 - $3000 marketing seed money and once you have the deal, split the profits and everyone after the first deal should have enough to do their marketing on their own.

Anyway, here's the Podcast.
Let me know what you think.

Click Below

Bigger Pockets Podcast 91