Lowe's Knows...

Lowe's Knows...

I made a trip to Lowe's last night. I absolutley love that place. If you are just getting started out in wholesaling you will want to make a trip here or somewhere similar. These are some of the hidden costs you won't think of if you're just beginning. You're first shopping list will look something like below...

Hammer - $25
Hammer - $25
Nails - $8 per box
Lock Box - $30
Stakes - $10 for 25 Stakes

That should get you started. And YES, I did buy two hammers. Let me explain.

Hammer number 1. This is a simple long handled, anti-vibe, straight claw framing hammer. Does it have to be all that? No. Your goal is to put nails through a corrugated plastic bandit sign into a stake. Although I'm a business analyst for a Forture 500 today, I did construction as a kid and I'm picky about my hammer.

Hammer number 2 is a 2lb hammer. I use this to put signs in the ground (actually I have a guy who does this for me now). A couple reasons I use 2 hammers. I'm in the mid west. Winter here can suck. Rather than pounding a sign 100 times with a framing hammer attempting to get it into the frozen ground I use a 2lb hammer. The head on it is wider and it strikes better. What you'll find when you use a regular hammer to put signs in the ground is if you hit half the stake it breaks. You have to hit it perfectly with a framing hammer. A 2lb hammer gives you room for error and works much much quicker. When you put up over 100 signs at a time you'll notice right away all the time you save by having a 2 lb hammer.

NAils are an easy one. I get the roofing nails with the plasic caps. They hold the signs on better. I use 1" nails (because the stakes I use work with these nails better. if you use a regular roofing nail the signs may tear off in a small breeze.

A lock box is your BEST friend! I love this guy. It's a simple box you can hang on a door knob. It has a combination that opens a compartment. You can place a key in it. I work full time so it's very important for me to have one of these. It allows me to show a house to an INVESTOR I TRUST at a time he/she is available without ever leaving my office and meet up. If you work currenlty you MUST have one of these. Be careful who you give the combination to and if you've had a ton of people stop by be sure to change it periodically (I do a couple times a week depending on the amount of traffic). Just be careful. If you get a retail buyer in a not so well off neighborhood they may be tempted to come back and take things out of the house or steal copper. That would be BAD! Use yoru brain on this one.

Stakes I use are 1" x 2" x 36". These are your typical framing stakes for concrete forms. You can get 25 stakes for $10. When you walk into a Lowe's they are always on the far wall in the lumber section. These seem to hold up well, are light weight and cheaper than the 2" x 2" stakes. I usually buy a crap load when I go. As you get going nails and stakes will be your only reason to go to Lowe's.

Own Your Situation,
Ben