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Flipping Real Estate!

THE GUIDE to Profitably Flipping Houses After the Crash
JOSH CANTWELL
Strategic Real Estate Coach
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Quit YourReal
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Flipping Real Estate: THE GUIDE To Profitably Flipping Houses After The Crash
Strategic
Estate
Coach
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Quit Your Job in 90 Days Flipping Real Estate: THE GUIDE To Profitably Flipping Houses After The Crash
TABLE OF CONTENTS
Introduction to Wholesaling................................................................................................ 5
Wholesaling Marketing Strategies...................................................................................... 6
The Death Cycle............................................................................................................ 7
Wholesale Investor Marketing 101 . .................................................................................. 7
Track It Measure Everything!...................................................................................... 7
Direct Mail ......................................................................................................................... 8
Bandit Signs..................................................................................................................... 14
Using Lists........................................................................................................................ 15
Probate and Special Situations................................................................................... 16
Bankruptcy.................................................................................................................. 17
Delinquent Tax Sales................................................................................................... 17
Vacant Properties - Driving for Dollars..................................................................... 17
Free and Clear Lists.................................................................................................... 17
Expired MLS listings.................................................................................................... 18
Title Companies.......................................................................................................... 18
Loan Modification....................................................................................................... 18
Out-of-Town Owners.................................................................................................... 18
Building Code Violations............................................................................................. 19
Foreclosures................................................................................................................ 19
Notice of Defaults....................................................................................................... 19
Marketing to Lists............................................................................................................. 19
Internet Marketing............................................................................................................ 21
Classified Ads................................................................................................................... 22
Online Classified Ads.................................................................................................. 22
Offline Classified Ads . ............................................................................................... 22
Business-to-Business (B2B) Marketing............................................................................ 23
Mortgage Brokers....................................................................................................... 24
Hard Money Lenders................................................................................................... 24
Realtors....................................................................................................................... 25
MLS............................................................................................................................. 25
Other Wholesalers and Rehabbers............................................................................. 25

REO Investors.............................................................................................................. 26
Additional Lead Sources................................................................................................... 27
Contractors................................................................................................................. 27
Government Organizations.......................................................................................... 27
Financial Institutions................................................................................................... 27
Auctions...................................................................................................................... 27
White Pages & Yellow Pages....................................................................................... 28
Marketing to the Masses.................................................................................................. 28
Developing a Marketing Approach.................................................................................... 29
Conclusion........................................................................................................................ 30
INTRODUCTION TO WHOLESALING
People are drawn to real estate investing for a few personal reasons: money, wealth accumulation and
freedom of time and space. Whether its because of all those evenings playing Monopoly as children
or the endless televisions shows that feature flippers, - were hooked. Buying and selling homes has
never been more lucrative, nor has the entry point been this accessible, even for first timers.
Wholesaling properties is a fantastic way to jump into real estate investing with little or no money. On
paper, the process is simple:
Find a bargain
property
Get it under
contract
Sell to another
buyer
That buyer will either buy the property to rehab and sell, or buy the property to rehab and use as a
rental. They may even flip it again after theyve bought it from you.
Simple right?
Well yes, but not so fast after getting a little bit of experience things do get easier. By learning
how to wholesale properties to other investors and buyers, the new investor will learn many skills that
are crucial to building a successful real estate investing business. By adding wholesaling to the exit
strategies of an experienced investor, they can capitalize on more deals and regularly take in quick cash
to achieve consistent cash flow.
So as a wholesaler, what kind of money can you make? Remember, youre going out and getting the
lead, locking up the property and then finding a buyer. What youre not doing is taking the risk of owning
the property, actually doing the rehab, managing contractors, finding tenants, or taking a risk betting
on the market.
For your role in wholesaling property, you will be paid, on average, anywhere from $2,000 - $15,000 per
transaction. Count on making about 5-20% of the value of the property you are wholesaling. Of course,
this depends on your market and the quality of the deal. The average profit check is $4,000 - $7,000.

For those investors who focus on wholesaling properties full time, its a volume business. The numbers
add up quickly and if you put the right systems into place, which Ill show you in this report, you can
complete multiple deals each month.
For example:
Wholesale 3 properties/month
Earn $5,000/property
Gross $15,000/month before expenses
Marketing and administrative expenses = $3,500
Net profits = $11,500/month
Investors who focus on selling wholesale properties do so because its a great way to learn about real
estate investing while building a business that will lead to doing more sophisticated and lucrative deals.
Its also the best way to make fast cash in real estate and have very limited risk. If you have a big
advertising budget or other business expenses that need to get paid, wholesaling is one way to make
sure you get that nut covered plus make profits on top of it.
If you are a rehabber and wholesaler, then you should have a strategy for quick cash (wholesaling
houses with equity and wholesaling lease options) and a strategy for big checks (rehabbing, short sales
and commercial deals). Many experienced investors wholesale properties that they dont want to buy
because they already have too many properties. In other words, their marketing is churning out leads
and they are able to cherry-pick those properties that they want to pursue. The leftovers get wholesaled.
WHOLESALING MARKETING STRATEGIES

If You Dont Have Leads, You Dont Have a Business!
Wholesale investors, like many real estate professionals, market with two objectives:
1. To find properties (motivated sellers) to buy; properties to wholesale and/or rehab for a profit.
2. To find buyers for properties (wholesalers, rehabbers, landlords, and fixer-upper homeowners).
The name of the game is finding motivated sellers, always has been, always will be.
How, when, what, and where you choose to market and advertise for buyers and sellers will take some
careful thinking. At first, the choices will seem overwhelming, and you might even feel like youre
missing out by not pursuing them all. Each form of marketing holds promise; but out of all the marketing
approaches, theres only one with the potential to deliver long term results good enough to build a
business into the future. While its the cheapest, it also requires much more work and risk to ones ego.
More on that later.

The best strategic marketing programs weve implemented and seen our coaching clients implement
have involved two or three approaches that they stick with week after week, month after month, year
after year. If theres one thing that those who have successful marketing programs have in common
outside of their success, its consistency.
The Death Cycle

The Death Cycle in the real estate business is to market, follow-up on leads, forget about marketing,
close deals, and then get ready for the next batch only to discover that you dont have any new leads
because you stopped marketing weeks or months ago. This is the single biggest mistake all investors
make. Dont let your business fall into The Death Cycle. When you have a large pipeline of deals to
wholesale, dont stop your marketing. Thats the time to ramp up your marketing.
WHOLESALE INVESTOR MARKETING 101

There are a lot of different ways to find good properties and potential transactions. With the help of a
few strategic marketing tactics, youll have more leads than you know what to do with.
Track It Measure Everything!

There are marketing strategies to fit every budget. No matter which methods you choose, the key is
to track and monitor the effectiveness of each method to determine which are working and which are
not. This is important because its an investment of your time and hard-earned money. Set up a simple
Excel spreadsheet or Google Document so that the results of your marketing strategies can be tracked.
Dont even bother marketing unless you are going to track it.
Heres why.
If you dont track it, how do you know what works and what does not for the next go-around. How do
you know what is good spending and not so good spending? Doing the same marketing strategies and
spending money on them without tracking is spending stupid money. Promise me you wont be stupid
with your money. Promise me youll track your marketing right now.
No matter the medium, the message is always the same:
We buy houses CASH, FAST. Any price, any condition. Call 1-800-555-1234.

When you are putting together your advertising message, remember to be concise and direct. Fewer
words is better in most cases.
This is the best way to get across the message and to inspire confidence, which is important in any
business but especially real estate. Use key phrases, such as:
We buy houses.
We pay cash.
Sell Your House Fast For Cash
Any condition.
Any Condition, Any Situation
Any location.
Call xxx-xxx-xxxx Today
We can take over your payments.

Foreclosure, divorce, probates OK.
So you know you have to track your marketing vehicles, but what are some of the most effective
methods to use?
DIRECT MAIL
A postcard campaign or yellow letter campaign can prove to be an effective strategy. Both are used
exclusively to generate sellers who are interested in selling their houses.
A goal in developing a direct mail campaign is to generate as many direct responses from prospects
as you can in the shortest time possible. In addition, the more touches you can make to a seller, the
better chance of them responding. For some its as simple as sending out a few of the same pieces per
month. For other investors, they use a combination of mailing pieces over several weeks to maximize
the number of touches they are achieving.
The most important thing to do when setting up a direct marketing campaign is to stay consistent and
track everything. Something should be happening each week, and your budget will need to be able to
handle the expense.
Make sure you are tracking your return on investment:
Amount being spent?
Number of leads youre

getting?
Number of leads turning into wholesale
deals and profits?

Profit from the
campaign?
With direct mail or yellow letter campaigns, you have two options: save money and do the work yourself,
or spend money and outsource the work to a professional company.
Mail clearinghouses like Sales Team Live have products developed specifically for real estate investors;
they can provide mailing lists and do all the work for you. You tell them what you want, when you want
it, how many, and they do the rest. If that expense makes sense and youre getting good results, stick
with it. If not, find another way.
Yellow letter campaigns tend to be most effective when organized and implemented in-house. What I
mean is I have written the letter myself. Then I outsourced the layout, set up and do the actual mailing
through a mail fulfilment company.
The letters I like to use are called yellow letters. I use a service at www.yellowletterscomplete.com. They
will completely automate and outsource the letter writing for you. Plus, they have sample letters that
have worked in the past for different lists that you would select.
Other companies that my clients have used include www.vletter.com and www.yellowletter.com - I
personally havent used these two companies but I have received positive feedback from them through
other reliable sources.
Some sample yellow letters:
Dear Todd,
Hi,
My name is Johnny Homebuyer. I drove
by your house the other day at
1234 South Main Street
Central City, Ohio 44444
AND
I am interested in buying it... if you are
interested in selling.
Please call me at
400-555-1234
or
217-440-9876
Sincerely,
Johnny Homebuyer
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Use direct mail in conjunction with other strategies. Once you send out a yellow letter, also follow up
with a phone call. Drop a note at their door using a door knocking campaign or pizza delivery marketing
campaign (more on those later).
To develop your materials, spend some time online investigating how copywriters do their thing; its not
that hard to learn.
Here are some quick tips:
Write a good headline that is simple, direct and compelling. We buy houses, fast, cash offers,
move on the date of your choice Is a headline Ive used.
Include a call to action tell your readers what you want them to do call you directly, call a
pre-recorded message or visit a Website. Make sure its clear.
Visit our website at www.blahblah.com or Call us TODAY at 1-800-5555-1234
Make the benefits of the action clear. For example, if the reader calls, they will get a quick
cash offer and we will pay their closing costs.
Study what professional copywriters use as trigger words. Have fun playing with different
word combinations and phrases. It can almost be like a puzzle where you try to say a lot with
the fewest number of words.
BANDIT SIGNS
Before we get into talking about list building and marketing to lists,
theres one cheap, easy strategy that you can begin using today, and
thats bandit signs. Youve seen them at the end of a highway off ramp
or nailed to a telephone poll at an intersection. Theyre called bandit
signs because they often violate city ordinances against signage. You
are being a bandit. Their primary benefit is that they are cheap,
and will get your phone number out there. Be aware: of all the top
real estate investors Ive met, not one sustains his or her business
100% with this approach. They do this in addition to other marketing
mediums.

Other forms of bandit signs include: putting a magnetic sign on your
car, or putting flyers on car windows at the local Home Depot or mall,
or buying a small billboard in a strategic location thats inexpensive.
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Reverse Bandit Strategy

Many investors I know have called other peoples bandit signs to sell that person a property in their
wholesale inventory. They have also called as a way to find people who would be willing to bird dog,
or find properties for them.
Keep this in mind when youre driving around town. You can use bandit signs as a simple way to meet
other investors in your area, which will extend your sphere of influence or your network.
Bandit signs seem like a good place to start because it is so cheap. Be mindful that some communities
have an ordinance against placing such signage in public areas, and any fines may be expensive.
We buy signs from www.ezsigns.net (800-276-3902) and from www.signwarehouse.com (800-6995512). Our signs say, Sell Your House Fast For Cash Any Condition, Any Situation, Call xxx-xxx-xxxx
today. We always use the yellow background with black lettering because in our market this has
proven, though tracking and measuring, to have the best response.
The cost per sign depends on how many you buy.
The signs we buy are 24w x 18h, and they cost about $1.50 - $3 each depending on how many you
purchase. Youll also need to purchase the H wire ground stakes, which costs about $1.50 each
(unless you buy 500 or more).
I would start with putting out 100 signs a week for 8 weeks. Some will get taken up by the local city
maintenance crews. You will also want to call the city building department to see what kinds of rules
they have regarding bandit signs in your area. Dont waste money by putting signs everywhere, only to
have them taken up by the city and have the city fine you for violating there rules. Do your due diligence
first and call the city and ask them what their policy is.
USING LISTS
So while bandit signs are a quick, easy way to get people to call you, there are more direct, more reliable
ways to target sellers, and one of the best is through direct mail and targeted lists. Direct mail is a
strategy that used to be used by everyone. Now I hardly see any investors using it, so the response
rates have gone way up in the past 6 months. We still use direct mail in our real estate business today;
we use post cards or a series of yellow letters mailed to lists that you pay to use.
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When it comes to direct mail there are two main components:

1. The letter (see above)
2. The list
Lists of motivated sellers can be purchased from different list providers.
Here are the lists I like to use:
Absentee Owners
Inheritances
Probates
Free and Clears Properties
Notice of Default Lists
The best places to get these lists are from List Source (www.listsource.com) and from US Leads List
(www.usleadlist.com). Youll want to buy a list of between 500 1,000 names with addresses.
Targeted lists take the guesswork out of advertising. When you use lead generation services like
SalesTeamLive.com and infoUSA.com (targeted sales leads and mailing lists), you choose the criteria
for your marketing list, which takes the guesswork out of what to market to whom.
Probate and Special Situations

Situations where the sale of a house is imperative (forced) because of special circumstances will also
prove to be beneficial to you as a wholesaler, so consider marketing to probate, bankruptcy and divorce
attorneys.

Probate court can be a great source of properties for wholesaling. First, they are easy to find. Just go
to your local courthouse and ask for the probate cases. Second, they often need repairs because the
owner, now deceased, did not have the resources to keep the house in good condition. Finally, heirs are
often motivated to sell the property to get cash fast.
The biggest obstacle? Probate takes time to work their way through the court system and you need to
be patient as you navigate the legal process that facilitates probate sales. On the other hand, these
properties are often free and clear of any mortgages, so the executor can dispose of the property
without any restrictions.

Another source of probate leads is the obituary section in your local paper. Contacting people through
the obits to prospect for leads can get a little weird. You need to be tactful and empathetic while still
conveying the message that if probate is involved, you may be interested in buying the property.
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Bankruptcy
Bankruptcy is another excellent source of good property deals; these homeowners can be extremely
motivated to sell. For bankruptcy contacts and lists use PACER, which contains every ongoing bankruptcy.
You can pull potential bankruptcy lists and go to PACER to find out the state of the various properties,
which ones had a relief of stay or abandonment of assets granted and which have dismissal or discharge
of the bankruptcy. Visit www.pacer.gov for public access to court electronic records.
Delinquent Tax Sales

Delinquent tax sales can be a good source of leads. On your local county website, research information
on delinquent tax sales and vacant houses. You may have to sign up with Lexis-Nexis (www.lexisnexis.com),
a company that offers a vast array of public information useful when tracking owners who are either
delinquent or have abandoned their property.
Vacant Properties - Driving for Dollars

Drive through neighborhoods in your sweet spot and keep your
eye out for properties that look vacant. The more transactions
you do, the more this will become second nature.
Look for properties that seem tired: tall grass, peeling paint,
curling roof shingles, newspapers piled at the door. When you
find one, its state could be the result of foreclosure, unwanted
inheritance or an REO. You wont know for sure until you
research the public records and track down the owner.

Most cities keep lists of vacant homes and properties with building code violations. Usually, these houses
are foreclosures, in disrepair and bringing down the surrounding housing values of the neighborhood.
You may find that, depending on how you present your business, the building department will provide
you with this list. They may have a website where the list is public information.

Another good lead source is contractors. They are in neighborhoods all over the city, and are probably
aware of houses that may be good buying opportunities for your business.
Free and Clear Lists

The advantage of free and clear properties is that the owners are free to do whatever they want and
are not restricted by a mortgage. Free and clear lists show homes whose mortgage has been paid off,
and can be obtained from list brokers. You can contact the owners through direct mail and express your
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interest in buying their house, informing them that you can structure a deal. You can pay them quick
cash upfront or make a partial payment with further payments down the road.
It is possible that some of these properties are owned by investors who own several free and clear
properties. You can do a deal with them where you pay for some of the properties and spread the
remainder of the payments over a period in an owner finance deal.
Once you have access to a free and clear lists, be sure to direct potential sellers to your business
website.
Expired MLS listings

If youre looking for motivated sellers, researching expired listings and contacting sellers is a good place
to start. Theres nothing like having a house listed month after month and seeing no results to motivate
a seller to listen to a new offer, even if its low. Locate these properties by searching the expired listings
on the MLS. Send the homeowner a yellow letter asking if they are still interested in selling. Set an
appointment to view the house and write an offer.
Title Companies
Develop a great relationship with your title company, as they can be another solid source of potential
leads. Title companies can pull records to find properties in foreclosure or that are free and clear. They
may even be willing to skip trace names so that you can contact possible sellers that are difficult to
locate.
Loan Modification
Between 65%-75% of modified mortgages may re-default after 12 months. What does this mean for you
as a wholesaler? Learn how to do short sales. In the next few years there will be millions of motivated
sellers who are looking for a way out of foreclosure. SREC teaches investors how to negotiate, buy and
sell short sales for incredible profits.
Out-of-Town Owners
Out of town owners and Landlords who live out of the area are another excellent source of motivated
sellers. What first seemed like a good idea developing a rental portfolio can quickly become a
burden that seems to have no end, especially if the owner lives out of state. Many come to the conclusion
at some point that they no longer want the hassle of owning, managing or renting out property. If the
property has equity, the owners may be interested in a discounted offer just to be rid of their headache,
especially in a housing market with home values continuing to plummet.
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Building Code Violations

Another great source for motivated sellers is a list of homeowners with building code violations. This
list can be obtained from the county courthouse or building department. In most counties these code
violation properties are public record so you just have to ask. Once you have the list, send the homeowner
a yellow letter telling them You Buy Houses.
Foreclosures
Obtaining a list of those properties that are in foreclosure is another great resource for marketing.
These lists are generated by financial institutions.
Notice of Defaults
This list identifies homeowners who are close to or already in distress. They may be a great resource for
motivated sellers who need to get rid of their property for fast cash.
Targeted lists are useless if you dont reach out to the contacts provided. Initiate a call to action by
providing a phone number with a pre-recorded message, or direct prospects to a Web squeeze page
(a single Web page designed to capture a visitors information for follow-up marketing).
MARKETING TO LISTS
If youre going to market to lists, you need to be specific about how you will structure a marketing
campaign to coincide with the list you want to use. For example, if youre going after a free and clear
list, youre usually looking at residential properties with no mortgage balance and ones that have been
lived in by the owners for many years. These people are probably 50-60+ years old. So if youre focusing
on a sweat spot area, you can send a postcard to all those over 60 years old in that area and reach
owners of properties that are free and clear.

Several types of lists, as mentioned earlier, are useful to use for building marketing campaigns. For
example: expired MLS lists, delinquent tax lists, bankruptcy lists, pre-foreclosure lists, free and clear
lists, probate lists, out the area lists, etc.
You can use different companies to generate lists: www.usleadlist.com and www.leadsource.com are
major provider of lists, and realtytrac.com is a major website for foreclosures. All Notice of Defaults
should be gathered from a local courthouse or a local Daily Legal News. Ive never found a national
provider of local notice of defaults to be reliable.
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For postcards, two companies we recommend are www.purepostcards.com, and www.imagemedia.

com. Both companies will design the postcard and all you have to do is give them a list and they will
mail the postcards for you.
Some sample postcards that we use, below:
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INTERNET MARKETING
In todays world, it is important to have a presence on the Web. When designing your web page, you can
build a page designed to attract buyers and sellers collectively, or a page designed to attract attention,
but then points to other pages for buyers and sellers. But if you want to use your Web presence to
the greatest affect, then it gets more complicated . . . more landing pages, etc. For this reason check
out GUMM (Genius Underground Marketing Machine, www.geniusunderground.com); GUMM provides a
great way to use the Internet to develop a buyers list as well as to find sellers.

GUMM makes it easy to market your business online. For instance, learn how to upload property details
and drive traffic to your squeeze pages from other Websites, articles, forums and other posting with
links and banner ads. GUMM will also show you how to optimize your site with certain keywords, which
will get you traffic through the search engines. This is called Search Engine Optimization (SEO). When
choosing niche keywords, choose them carefully. Avoid words that may be popular because they are
more competitive. For example, avoid Ohio Real Estate, but choose Cleveland Real Estate. Your web
page is more likely to appear on the first page for that search word than a more competitive word.

The Internet is also useful to see who may qualify as a potential buyer for one of your properties. These
individuals can be approached using email or direct mail and better yet, you can set this up so that
it happens with a push of a button.
Going into any great detail about using the Internet
is a whole separate course, but you can use other
forms of marketing to direct prospects to your
webpage. Creating the webpage does involve some
minor expense.
For now Ill give you some of my websites you can
check out, but thats all Im going to cover in this
report. I have other reports you can use to dominate
the Internet.
www.freeclevelandhomesearch.com
www.clevelandhomeexplorer.com
www.clevelandfixerupper.com
www.clevelandavoidforeclosure.com
www.avoidforeclosurecleveland.com
www.greaterclevelandforeclosure.com
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CLASSIFIED ADS
Online Classified Ads
Another great way to advertise your company is to place small classified ads online. Placing ads on
free, online sites to drive potential sellers to your websites for a free report or to an 800-number for
a free consultation can be very effective. Some great ones to start with include www.craigslist.com,
www.backpage.com, www.oodle.com, and www.kajiji.com. Craigslist.com may be the easiest and most
powerful place to market your wholesale deals. If you have a property under contract, post a free ad on
Craigslist.
Here are a few examples:
We buy houses, fast, cash offers, move on the date of your choice. Visit www.insertyourwebsite.com
or Call us at 1-800-555-1234 for an immediate cash offer.
We buy houses, take over payments, Avoid foreclosure, Probate, Divorce, Bankruptcy OK. We will give
you a fast cash offer in 24 hours or less. Visit www.insertyourwebsite.com or Call us at 1-800-5551234 for an immediate cash offer.
$30k Profits, After Repaired Value $100k, Needs $13k, Asking $55k, Great Area, Must Sell This
Weekend. Make Offer. Wont Last. Call now for details: 440-555-1234
Here are a few more:
$32,500 Profit, Just waiting to be had, ARV $125k, needs $22k repairs, Asking $65k, Prime Location,
Must sell, Make Offer. 440-555-1234. Call Now. Wont Last.
Free report shows you 7 ways to stop foreclosure in its tracks
Free report shows you how to sell your home NOW for cash, any condition, any situation.
Finally, sites like Craigslist and Backpage.com are the most useful and will generate massive amounts
of potential buyers. Youll be able to build your buyers list and create more opportunities for sales later.
Offline Classified Ads

Above I talked about using free online classified websites such as craigslist or backpage to advertise.
Here Im talking about classified ads again, but this time traditional ads in newspapers. The traditional
classified ad is still a way a good way to get lead. Run a classified ad in the Sunday edition of the local
paper announcing that you are looking to buy houses. This ad will cost about $200 dollars roughly
and generate an influx of calls from prospective buyers for about two days. The phone calls may take
up a lot of time, so be sure to have a script in place to get the information you need and get off the
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phone. The calls will take you away from other important tasks, like seeing properties or managing
contractors, but are important. As your business grows and becomes more established, the inside
sales representative you hire will be responsible for taking and making phone calls. My Inside Sales
Rep currently takes and makes all the phone calls for my office. We call it the Money Phone. When it
rings, we know its a buyer or seller calling about our services. This phone gets answered day and night.
When it rings, it means money.

QUICK TIP: Once your business is established and you feel you are ready for staff and employees, the
first person youll want to hire is a marketing manager. This person will help create ads, network, take
phone calls, set appointments, evaluate property on the phone and in person, and write contracts.
Remember, the more opportunities you have to buy and wholesale, the more money youll make. If
you are not marketing, you are not in business. Youll want to expand your marketing staff and efforts
before you hire administrative staff.
Email Marketing
The easiest way of contacting buyers or sellers on your list is emailing them and telling them about the
various properties. You can do this through Realeflow.com or through emailing solution providers such
as www.iwebber.com, www.icontact.com or www.constantcontact.com.
We currently use www.mailchimp.com for email broadcasting. We primarily broadcast our properties to
buyers. With Mail Chimp you can send up to 12,000 emails a month for free through their Forever Free
Plan.
BUSINESS-TO-BUSINESS (B2B) MARKETING

Real estate investing is all about finding sellers and buyers. About 80% of the time, you should be marketing,
developing connections and finding leads. Build relationships with knowledgeable professionals that
you meet; go to REIA (Real Estate Investors Association) meetings, meet with attorneys, mortgage
brokers and Realtors. The more you explain your business, the better youll become at presenting what
it is you do and leads will follow. People will see the confidence; theyll trust your knowledge and deals
will come in.

REIA groups are ideal for meeting other investors, hard money lenders, mortgage brokers, loan
modification lawyers and brokers, and Realtors with real estate owned (REO) properties.

Look to associations like Realtor.com for knowledgeable real estate agents with REO properties in
a specific zip code. Determine if the Realtor has properties within the specific price range needed,
according to your buyers cents on the dollar potential.
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Establish relationships with title companies to get their list of free and clear properties and well as
comparables.

Speak at events related to real estate wholesaling and investing to gain exposure, contacts, and
credibility in the field.

Get in touch with local property management companies who may have recently lost a property due to
foreclosure or probate. Meet probate, divorce, and bankruptcy attorneys, especially those looking to
help their clients through a difficult time rather than pushing for a quick Chapter 7 filing.

Use social networking sites like Facebook and LinkedIn to create your own business group which others
can join. You send an invitation welcoming your contacts to join. Those who do join form an instant
marketing list for you.

Establish relationships with builders in the area while keeping one eye on local area new construction.
For any number of reasons, builders are sometimes forced to abandon a job, leaving incomplete houses
waiting to be scooped up for finishing and wholesale.

Franchises like Homevestors of America exist for wholesale buyers and sellers to start their own
business with a business model and conduct policies already in place. Network with these business
owners; they may have opportunities for you to take properties off their hands.
Mortgage Brokers
Mortgage brokers are perhaps one the most effective ways of getting seller leads, and are generally
investor-friendly. Brokers who write loans for investors have a lot of buyers. You can tell them that
youre going to have 4-8 really good deals on houses every month to assign to one of their investors.
This means more business for them and if you build a good relationship, they will introduce you to their
investor base. Theyll know other people: Realtors, investors, etc., who are successful in the business
those are the people you want to meet.
Hard Money Lenders

If youre looking for buyers, follow the money. Hard money lenders have it, and they know whos doing
deals, making money and coming back for more. Attempt to build relationships with several hard money
lenders; youll quickly learn whom you want to work with and whom youll want to stay away from.
Likewise, youll gain access to the people they work with regularly. These are potential buyers and great
sources of information and experience.

24
Hard money lenders often know people that want properties, but dont want to spend time marketing,
inspecting and getting them under contract. Thats where you can be their eyes and ears. If youre giving
them deals that they make good money on, theyll keep coming back and then bring their friends.

Another advantage of having good relationships with hard money lenders is that they may fund your own
investments. This is a major advantage for some buyers and something that you can promote to your
investors.
Realtors
Contact and build relations with real estate agents who work with investors to help them find properties;
they can bring buyers to you. Many of these agents list REOs and have a huge buyers list. When you
have a property for sale, contact Realtors and let them know that youre in the business of buying and
selling property below market value.
MLS
You always need to have the Multiple Listing Service (MLS) at your fingertips. If you dont already have
access to the MLS, you can get it a few different ways. You can become an agent or assistant to an
agent. In the Cleveland area, the Realtor Association offers a 4-hour class to become an agent assistant.
Once the class is over, youll get your own username and password to the MLS. The biggest advantage
of using the MLS is the exposure it will provide details for the property youre hoping to buy or sell, and
give you the ability to run comps. The downside is that if you have a FSBO (For Sale By Owner) property
under contract to wholesale, you cant put it on the MLS. Likewise, if you have an REO under contract
to buy, its already on the MLS so you cant market it on the MLS. On the other hand, you could always
strike a deal with an agent to pay a fee per listing with the understanding that the agent will make no
further attempt to market the property and will direct all inquiries to you. When I rehab properties with
my brother Mark, we use a local Realtor to list and sell all our houses. He charges us a $300 per listing
flat fee. Mark handles the calls and showings and it saves us 3% commission on each deal.
Other Wholesalers and Rehabbers

Develop a network of other people that are in the same business. Then, when you have a property, call,
send them a list or post the property on your Website and send buyers directly to it. Mark-up the deal
50-60 cents on the dollar minus repairs, based on valuation. Let other wholesalers know you will pay a
referral fee if they find a buyer. If they buy the property, theyll get a good deal they can rehab.

Find out who is doing what in your area. Use the phone book, classified ads and Craigslist. Make some
calls; meet over coffee. Build relationships. Remember, other people in the same business are not only
prospective buyers, but future partners on deals.
25
Get in touch with these people with whom you want to do deals; tell them about your business; ask
them what theyre doing; offer them great buying opportunities and see if they have any. Build a good
working relationship with as many as possible and youll find that more deals and buyers will come your
way.
REO Investors
Many investors have become interested in Real Estate Owned property (REOs bank owned
properties) as a readily available source of leads. Find Realtors who are knowledgeable about
REOs and can let you see properties in your sweet spot that you are interested in potentially
wholesaling. The more familiar you are with an area, the better your chances for success.

Look for properties that are selling for less than half the average selling price in the neighborhood.
For example, if the average market value of properties in a particular neighborhood is $125,000
or the range of houses that have sold is $100,000-$150,000, have the Realtor show you all the
REO properties that are offered below $60,000-$70,000.
I like to look at REO properties that have been on the market for 3+ months and have been sitting
for a while. With these, the lender is more willing to negotiate down on the purchase price in order
to sell. If the listing is brand new, the lender will hold firm on the asking price because they will be
getting a lot of showings and offers.
The process for wholesaling REOs is similar to FSBOs. Get the property under contract and find a
buyer willing to pay more than your contract. The difference is in the way these are closed. When
you make an offer on a REO, the lender selling the house will require that you close at their title
company/closing attorney. Lenders also will not allow a property to be assigned like a FSBO. What
that means in the property can still be wholesaled, but the closing must be a back-to-back closing
instead of an assignment.
Once or twice a year, its worthwhile to distribute free promotional
material that contains your name and contact information. Start
with your local REIA group; its a great way to meet people and
make contacts. Likewise, you can save certain materials for
appointments. Things to consider handing out are pens, note pads,
t-shirts, badges, calendars, mouse pads and magnets a favorite
of ours because people can put it right on their fridge or filing
cabinet.
26
ADDITIONAL LEAD SOURCES

Contractors
Talk to builders who have excess inventory that they need to sell. They may or may not sell those
properties for huge discounts and they might carry back some financing to try to at least unload some
of the properties that they carry. If you are able to buy several properties at a time, you might find a
builder who is willing to unload property at 70-80 cents on the dollar.
You can also contact management companies that manage single or multi-family units for several out
of town owners and ask them to let you know when one of these owners wishes to sell.
Government Organizations
Lately, it has become easier to buy homes directly from some government organizations. For example,
the VA and FHA have many properties that need to sell. Contact them directly for details about these
properties. Likewise, the VA Homes Foreclosure Listing offers a website that contains property details.
Financial Institutions
Check with the large financial institutions (banks) in your area to see if they have REOs listed. With the
current housing crisis, such properties are plentiful.
Auctions
Many real estate auctions are taking place right now, some auction 200-250 properties in a single day!
Frequently, properties may never receive bids. This happens in the larger counties where there are just
too many properties for people to follow. If you go to an auction well prepared, you may be able to get a
great deal but you have to do your homework.
There are quite a few online auctions where bids can be placed online without even having to physically
go to the auction room. This obviously saves time and allows you to follow many auctions and properties.
You can pick up some good deals at Sheriffs auctions. Most people that go to auctions are not creative;
they dont have access to money so even though there is an abundance of houses right now, there arent
many buyers around because investors dont have money. This provides unprecedented opportunities
for those that know how to structure possible transactions and buy property.
When you buy a house through the Sheriff, you buy as-is and often do so without having been in the
property. One way around this would be to get the notice of default or summary judgments list of all the
27
homes that are going into foreclosure in the coming month or two. Mail out letters and post cards to
these addresses and explain to them that you want to buy their house. Meet with the owners to discuss
about potentially buying it. If there is equity in the property, then try to do a deal; if not you can try to do
a short sale. Otherwise, since youve seen the inside of the property, you know the work that is needed
and the overall condition of the house. When you go to bid at the auction, youll have a great advantage,
as youll be one of the few bidders that have been inside of the property. In other words, you will not be
making a blind attempt to buy the house.

On the other hand, many of the houses that are listed in auctions are also listed with Realtors. To get
inside you could set up an appointment or check the open house schedule.
White Pages & Yellow Pages

One of the best moves I ever made in my first year of business was to successfully
bid for a spot on the front cover of the Cleveland White Pages. When the
phonebook came out that July, the phone rang off the hook and I was swamped
with leads. My ad was in every home in Cuyahoga County. As the months wore on,
the number of leads dropped, but remained consistent. I was lucky. I got in at the
right time and didnt pay the normal price. I was hooked, but each year the price for the ad increased
until it no longer made sense for me to keep it.
Check to see what the cost is for putting a small add on the cover of your local phone books. With the
Internet boom, the use of Yellow Pages has dropped, but if you can get a good deal on a spot on the
cover, youll get calls. Youre really doing it for credibility and for leads. People who see your advertising
or hear about your company will either Google your business, or look it up in the phone book.
*NOTE*: Do not bother advertising inside the yellow pages with a credit card sized ad. This will surely
be a waste of money since yellow page readership is way down. Only market with the Yellow Pages and
White Pages if you can get a spot on the front or back cover.
MARKETING TO THE MASSES

A fantastic way to generate tons of leads is through traditional advertising approaches like television,
billboards and even radio. Keep in mind, with big exposure comes a bigger monthly advertising bill.

For the past five months, I have been running a television commercial on a local station. We have ads
that run throughout the day, about 6-10 times per day at a cost of $2,800/month. Every day we receive
5-10 calls from this ad. This exposure has not only brought us leads for buyers and sellers, but also
for bird dogs, attorneys, realtors, and mortgage brokers who want to refer us deals. On top of that,
28
its given us a tremendous amount of credibility. Sellers, buyers,

other investors and Centers of Influence perceive my company
as a player in the industry. They see the commercial and think
that we must be doing something right.
If you choose to use mass media, your brand name will go out
to a huge area, meaning that its going to hit a lot of properties
in areas and demographics where you dont want to work. But
if you have connections with other investors, you can maximize
every lead by wholesaling the property to someone outside your
sweet spot. Sorting through all these leads will take time and
resources, but youll also find some gems.
Check out our

commercial on YouTube
just search Ambrose
Properties and youll
see our videos and
commercial.
DEVELOPING A MARKETING APPROACH

So far weve reviewed two approaches that are useful in generating leads for wholesale deals. They fall
in the following categories:
Center of influence
marketing
(Building networks)
Mass Media
(TV, Internet, direct
mail, newspapers)
Remember, you can use any of the above to pin-point a property you want, and then begin specifically
targeting that address with a letter and door-knocking campaign. This is a natural outgrowth of Centers
of Influence and mass media marketing.
Ideally, you need to try to do each in tandem so that youll have a multimedia approach. All the material
you develop needs to be clear and concise. You also need to validate yourself to set yourself apart in
your niche industry through organizations like the BBB (Better Business Bureau) or through professional
referrals.
29
CONCLUSION
If you dont have a plan to get a steady stream of leads month after month, then you will fall into the
same feast or famine trap that often troubles those in the real estate business. When investors fall into
a pile of cases, they usually get so focused on what they have in hand that they stop advertising. Once
those initial transactions have closed, theres nothing to follow. You need to put a plan in place made for
the market where you are going to be doing business. Likewise, you need to have a diverse marketing
approach so that you have multiple lead sources working at any one time.

Finally, think about what group of sellers will give me the best opportunity to bring in the most amount
of money for my business? The answer is clear: You want to find sellers who did not earn the equity
in the property, and who are not emotionally attached. Naturally, an inheritance comes into mind,
but there are many reasons people find themselves owning property. As you advertise and meet with
sellers, understanding their history with the property will be as important as understanding their core
motivation.
Marketing is all about testing. Each time you create an ad, put out signs, and send direct mail, create
a commercial, or drop off flyers you are testing a marketing campaign. Not every campaign will
work. Good marketers know that every time they spend money, they are testing. So you have to track
your results to know how your test worked. If the test worked well, do it again. If the test failed, try
something new. Marketing money is only a waste if its not tracked. If its tracked then its always worth
the investment, even if it didnt pull many leads; it gave you valuable information and results that you
can use for the next marketing campaign.
30

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Flipping Real Estate!

Other Wholesalers and Rehabbers............................................................................. 25

WHOLESALING MARKETING STRATEGIES

The Death Cycle

WHOLESALE INVESTOR MARKETING 101

Track It Measure Everything!

Sell Your House Fast For Cash

Any Condition, Any Situation

Call xxx-xxx-xxxx Today

We can take over your payments.

Number of leads youre

Reverse Bandit Strategy

When it comes to direct mail there are two main components:

Probate and Special Situations

Delinquent Tax Sales

Vacant Properties - Driving for Dollars

Free and Clear Lists

Expired MLS listings

Building Code Violations

For postcards, two companies we recommend are www.purepostcards.com, and www.imagemedia.

Offline Classified Ads

BUSINESS-TO-BUSINESS (B2B) MARKETING

Hard Money Lenders

Other Wholesalers and Rehabbers

ADDITIONAL LEAD SOURCES

White Pages & Yellow Pages

MARKETING TO THE MASSES

its given us a tremendous amount of credibility. Sellers, buyers,

Check out our

DEVELOPING A MARKETING APPROACH

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