Marketing can be frustrating and often provides disappointing results…
When you drop thousands of letters in the mail the thoughts of your phone ringing off the hook with people begging you to buy their house for pennies on the dollar run through your mind. Then a few days later the phone does ring and reality sets in, you get a few calls of angry people telling you to never contact them again and the one guy that wants full retail for his place. UGH, not the results you wanted.
So, you move to “Plan B” You order (or make) a couple hundred bandit signs to hang around town. Yes, you might feel a little sleazy putting out signs you know are illegal in most places and maybe hire someone else to do it but you are confident the leads will start rolling in, and they do… From the city ordinance officer, people who are bothered by bandit signs and that one guy who wants full retail for his house that called off your mailing.
Screw it, let’s get tech savvy, build a website and get some internet leads! Okay maybe not build a website that’s hard so you decide to buy one. You make your purchase, put in your content, name and phone number and to your surprise nobody is visiting your website. Hmmm, after some problem you decide to buy some traffic with some google PPC ads and set up an adwords account, design your ads and start picking your keywords. You type in “we buy houses” and see the google suggested bid for that term is $35.25 PER CLICK… WHAT THE *&#@! Who can afford this?
Honestly if you’re just starting out as a real estate wholesaler let me tell you two super easy and cheap ways to find distressed homes with motivated sellers without all the aggravation.
#1 Driving For Dollars (the super easy way)
This was my first method of finding houses and still one of the best ways.
Step 1: Pick a city that investors like to buy house in.
Step 2: Tape a “we buy houses” letter on the door of every vacant house.
Step 3: Keep doing it until your phone starts ringing
This works extremely well, I think it’s because people respond better to a note from someone that drove to their house and taped on their door vs another piece of junk mail that was delivered by the post office. Also you’ll reach a lot of people that haven’t forwarded their mail from the vacant house to their new property.
You can easily find 50 or more vacant houses a day even in good areas. Keep doing it and you’ll get the deals! I didn’t try to track down the owners of houses and I didn’t send them a letter. I taped my note to the door and that was it, no other follow-up. I found that even if a house in vacant the owners still come by to check on it or one of the neighbors will see your note and get it to the owner. So if you’re on a budget or struggling to get deals start driving for dollars, IT WORKS!
#2 Become a 10 Hour Wholesaler
You’ve probably heard of virtual wholesaling but the 10 Hour Wholesaler Program puts a different twist on the concept. With traditional virtual wholesaling, you’re still sending out letters and spending marketing dollars, but with the 10 Hour Wholesaler Program you learn to tap into another wholesaler’s inventory.
This system will work great for you whether you’re wholesaling locally or in another city across the country. As long as you have a computer, cell phone and internet service you can be a Virtual Wholesaler.
I love this method of wholesaling because I let someone spend their time and money marketing, taking calls, weeding out the real deals, negotiating price, estimating repairs and getting the house under contract. All I do is match the other wholesaler up with my buyer and BOOM I get paid!!!
So If you’re new to wholesaling and aren’t comfortable negotiating with sellers, are working with a limited (or No) marketing budget or just need to learn how to network with other wholesalers so you can offer their inventory to your buyers the 10 Hour Wholesaler system is perfect for you! (The system also shows you how to build an awesome list of cash buyers)
Check out the program on our website at www.thewholesalerstoolbox.com/virtual-wholesaling
David @ The Wholesalers Toolbox