I am attempting to invest for immediate income by wholesaling ugly properties in low income neighborhoods. I am investing full time and need the income on a consistent monthly basis. I see this as the engine to drive the rest of my investing.
I would like to develop a constant stream of properties to wholesale (as well as a constant stream of middle to moderate income properties in other areas to hold or retail).
The marketing method I am utilizing is driving the streets, putting up my bandit signs, and trying to track down the owners of vacant or abandoned properties. This technique has yielded less results than I would like.
Would you please recommend marketing methods as follows:
1. What marketing methods would you recommend to generate leads on ugly properties if money were no object?
A. Radio, television and billboards
2. What methods would you recommend for ugly properties if marketing on a low to moderate budget?
A. Knocking on doors and bandit signs
3. What marketing methods would you recommend, if money were no object, to jump start my business (wholesaling in low income areas and retailing/holding in moderate to middle income areas)and bring in a consistent flow of motivated sellers?
A. Newspaper ads, radio ads, flyers, direct mail to the neighborhoods you farm, bandit signs, billboards.
4. Same as above if marketing on a limited budget?
A. Farm neighborhoods and knock on doors to see if people are interested in selling or if they know someone that is interested in selling.
5. What web site vendors do you recommend? How important is it to have a web site? Which vendor do you use, if any?
A. Web sites are a great tool for this business. Go to www.LouisBrown.com for RE websites.
Finally, do you have any preferences, other than wholesaling ugly properties, for immediate and consistent significant income?
A. Quick flip retail can also generate some quick cash. Option fees on lease options can put some money in your pocket.