Wholesaling Strategy - Tom's Guide on using Craigslist to find Leads
Tom joined us only a few months ago as a wholesale student and he already has his first check in hand for $3,000. Check out his story below.
"So I have several ads on Craigslist, and one day someone contacted me because they saw my "We Buy Houses for cash" ad. He was actually one of 3 people who recently inherited a single family, 3/1, 1058 sq ft home here in my town of Redding, CA, from his late aunt. I went over, talked to all 3 sellers, saw the house, and eventually put it under contract at 70k. The ARV was around 142k. However, I know nothing about rehabbing, so I ballparked 25k in repairs.
I began marketing it, and found a few cash buyers who were interested. One drove by the neighborhood and said it wasn't a good neighborhood. I had 4 more buyers check out the property. 2 of them said there's actually 35k in repairs, and that that was a deal breaker.
So I went back to the seller and negotiated to take off another 5k off the purchase price, and they agreed! I paid the sellers $350 out of pocket so that they could haul all the junk out, and to incentivize the transients to get out of the property! Within 30 days, I assigned the contract to a cash buyer, and the deal was done!"
If you're curious how Tom did this, he implemented a marketing strategy using our M5 Marketing Machine that incorporated Craigslist as a lead referral. He also used our Direct Mail Deal Maker system to get leads pouring in.
He also used the education, specifically module 3, which is "Analysis and Inspection", in Cody and Josh's Your First Million program to figure out how to price the home with a profit in mind. The scripts in the program also helped him know what to say to his sellers and buyers.
Join Tom on this super fun journey to financial freedom by becoming one of our students!
P.s. We always recommend that a great place to start is our free web class here http://realestatewebclass.com/r/r.php?h=3ad605