I get questions about wholesaling and marketing typically several times each day.
Where wholesaling is concerned, it is really hard for real estate investors that are just starting out to wrap their brain around the idea of making cash offers to motivated sellers, especially when you don't always have the “bank account” to back up those offers.
Marketing your real estate business, is a topic that everyone needs to know about. Where do I start, what do I do first, and what are the best strategies to use in my business are just a few of the questions I routinely get.
I was invited to do a podcast for BiggerPockets a while back on “Wholesaling and Marketing” and I thought this was a good time to re-introduce that conversation I had with the fellows Josh Dorkin and Brandon Turner over at the BiggerPockets.com site.
I hope you enjoy the podcast and even if you are listening for the second time, there was a whole lot of information shared on that show. So sit back and enjoy.
Here's the link to the original post and several similar articles on the blog:
If you haven’t already subscribed, be sure to do that today so you don’t miss any of the business building tips I have coming your way. I want 2013 to be your best year ever! And if you enjoyed this article, please share it.
Hey Sharon, I just wanted to attest to all of your readers out there that this is without a doubt one of my favorite podcasts on BP. I have probably listend to this podcast 4 times or more. I always feel like there is no information to glean from it no matter how many times I have heard it.
Thanks so much Samantha. You are so sweet.
I still listen to podcasts multiple times and re-read great business books. I get something new from them each time. You are always at a little different stage in your “learning” each time you do this.
I have a new “assignment for you since you are such a learner; I am reading the “Compound Effect” by Darren Hardy of Success Magazine. Get that book and read it. It will change your life over time. I will be doing a review of this book for the blog sometime this month.
I have something coming up for you – my brand new podcast channel will be starting sometime this month. I have some great guests with some brand new strategies that you can learn and implement. I will also be talking a lot about marketing and branding this last quarter of the year on the blog to help folks to finish this year strong and be ready for 2014.
As always, thanks for stopping by.
Tara -I think personalization helps so I always do that.
Sharon, I work an area on the Iowa/Illinois border called the Quad Cities. A little over 200,000 people.
Does it make a difference in mailing to probates and absentees if I mention the property address or not on the marketing piece? I know a lot of people say they put the owners name and property address to make it seem more personal.
Forgot to ask, how many out of state owners with at least 50% equity do you have on your list? I’d think that list would be small.
I’m getting ready to get a new list next week. But somewhere between 800 and 1000; I am actually hoping for more this time because I am taking the value up a little. Check back in a week or two and I will have an answer for that. You would be amazed at how many their are. A lot of folks own their houses free and clear. Just go with the list you can get from the local tax office.
Are you in a big city? I’m not exactly sure where you are?
I talked to listsource about 6 months ago and no luck. An employee at the county said it has to do with the way the county data is set up….whatever that means.
In your out of area mailings, do you mention the property address as well? What if someone owns multiple properties, mention all of them?
Great podcast you did for biggerpockets.com!! I’m just starting to send direct mail to probates and absentee. Two questions…….
1. When mailing to probates do you mention the specific property or just mail letting them know if there is real estate that needs to be liquidated you can help?
2. I’ve got a list of absentees from my county…..have to manually sift/sort the data, can’t get a list from listsource, realquest, etc due to the way our county data is set up. Do you mail in state as well as out of state owners? I was thinking of just mailing owners that live 2hrs + away. Seems they might be more motivated than an owner that lives in the same town??
Thanks Sharon for all your great insights!
Tara – I always mention the specific property and also say “another other property that might be in the estate”.
I only mail to “out of state “absentee owners. Listsource can get data from anywhere, so I’m not clear on why they can’t provide the list. Initially I got my list from our county tax assessors. The problem was, that I couldn’t get the “equity piece”. They weren’t able to do that. So that is one of the major advantages of using listsource. I only want property that has at least 50% equity.
I have found that I need people to be around 3 hours away from my city, otherwise it just isn’t “painful” enough to own property here. When was the last time you talked to listsource?