Whether you need to find properties the ol’ fashioned way, or you are simply trying to flip deals online, we have a few tips for you to do both.
How to Find Wholesale Deals Nobody Else Has
We cannot stress this enough: If you are not marketing like a business owner you will fail in this industry. Period.
Nobody can get by solely posting other peoples deals online. Seriously, it’s the hunter not the gatherer who eats the most. Real estate investing, specifically wholesaling, is no different. Too many solo-prenuers out there have NO idea what they are doing and will burn out before they know it.
Below are simple strategies you can implement for both online and offline marketing.
Offline Strategies
Bandit Signs – Bandit signs are always in style. Make sure you follow my advice on how to post these so you do not get fined by police. The sign game should be systematized and managed closely. Set aside a budget, materials, and a schedule for putting them out. Easy peasy!
Mailing Letters – Sending letters has a higher cost than bandit signs, but any true wholesaler will have both campaigns going on at the same time. You can purchase lists online from various sources, I never liked going over 40 cents a lead.
I suggest you keep money in your wallet for bandit signs before you go and buy leads, unless you can afford it. Once you close your first deal, than you can fund a letter campaign.
Newspaper – While this is not a sexy option, it still works. Many of the potential sellers you are looking at, lower-income based homeowners do not have the internet and won’t always drive where your sign is. So posting a simple “I Buy Houses” ad in the local penny saver or newspaper may help. I suggest you continue to post for at least 3 months so you can get a good idea for how many calls you can generate. Test different layouts, ad copy, and call to actions so you can fine tune your marketing.
Creativity – Being creative is typically the best and cheapest way for people to find deals. Normal people think inside the box, but wholesalers for the most part are not normal. We believe that anything can be done and we won’t listen to nay-sayers. Put a billboard up, offer the home that faces the highway some cash and paint your bandit sign on it.
Online Marketing Tips for Wholesale Deals
Expired MLS listings – Simple but for some odd reason, many people do NOT get this far. Just get a real estate broker/agent to help you out. Get an area, same zip as where you sent your letters and put your signs up, and find what properties you want to go after. Send the homeowner of the expired listing a letter saying you wants to purchase their house.
Social Media – I only put this here because it’s obvious that people are just finding deals on Facebook and Twitter and just passing it along to other people and asking for a finder’s fee. Whatever, that is annoying, but it exists so it’s here.
