How can wholesalers effectively market their business and find motivated sellers in today's competitive real estate market?

 

In this insightful episode, Shaneka Lene' shares her valuable experiences and strategies for succeeding as a real estate wholesaler. She emphasizes the importance of being transparent with sellers, constantly educating oneself, and utilizing various marketing techniques such as driving for dollars, bandit signs, and SMS text blasts. Shaneka also highlights the significance of building relationships with other wholesalers and attending local real estate investor association (REIA) meetings to expand one's network and knowledge. Throughout the conversation, she provides practical tips on how to navigate the challenges of wholesaling while maintaining a strong worklife balance as a mother.

 

Shaneka Lene’, affectionately referred to as “Sis”, is a real estate mogul and developer in her own right. Sis currently owns a multi million dollar real estate portfolio, which includes two mobile home parks, mobile homes and single family homes throughout NC.

Shaneka also owns Hospitality Home Solutions, a family owned and operated full service remodeling company, which has worked with companies like Clayton Homes. In addition, in 2022, Shaneka became the first Black woman to be a licensed mobile home dealer, contractor, and mover in the state of North Carolina! To date, Sis has also acquired her license as a septic contractor in order to help aid in the development sector of her company. Shaneka is also the owner of Coastal Carolina Villas, a multimillion dollar development, including a Tiny Home Community, RV Resort, and Glamping that is scheduled to be open to guests in the summer of 2024.

00:00:00  00:02:00 Be Transparent with Sellers

 

•  Use local real estate investing terms that sellers can understand

•  Be upfront about the possibility of assigning the contract to another investor

•  Most sellers don't mind as long as the wholesaler follows through and closes the deal

 

00:02:00  00:04:00 Staying Current in the Real Estate Market 

 

•  Listen to educational podcasts like Real Estate Disruptors and Flip to Freedom

•  Follow interesting episodes from BiggerPockets when posted by others

•  Drive for dollars with family members to find motivated sellers

 

00:04:00  00:07:00 Effective Marketing Strategies for Finding Motivated Sellers

 

•  Use PropStream to download lists and send SMS text blasts

•  Drive for dollars and cold call the leads generated

•  Utilize bandit signs, which often result in warm leads ready to sell

 

00:07:00  00:10:00 Pivoting and Adapting to Changes in the Wholesaling Industry

 

•  Be flexible and adaptable to adjust to any changes in regulations

•  If required, obtain a license to continue wholesaling

•  Attend local REIA meetings to stay informed and network with real estate attorneys

 

00:10:00  00:13:00 Tips for Success in Wholesaling

 

•  Invest in yourself and your education to separate yourself from competitors

•  Be professional, honest, and answer your phone promptly

•  Return phone calls in a timely manner, as the business is timesensitive

 

"I'm always up front with my sellers. Some of them don't understand the language of wholesaling. I don't come out and say:  I'm a wholesaler or anything like th