BiggerPockets

I am in the process of building my first buyers list. Can someone let me know how many buyers I should have before I start looking for a property?

ONE

500,000,000 or 1 which ever comes first :mrgreen:

You really only need one buyer to get started.

However having more definitely would not hurt.

You want to find quality buyers. Ones who have available funds that can close quickly with cash.

If you continually bring great deals to a particular investor he/she would like to continue working with you for helping them make a great profit.

Find out your buyer's criteria. Find out their exit strategies,financing, and location.

Put your self in the shoes of your buyer, and think of what kind deal your buyer would buy to make a great profit.

Wow thanks for all the great responses. I was thinking I needed at least 20 investors to even start looking. I am a lot more motivated to get going after hearing that. I know I can find at least 3 or 4 quality buyers.

I am in the same place as you Darren.
I am currently building my buyer's list but like Stephani said. It's quality not quantity. I am getting a lot of "investors" contacting me, but none of the ones I really need.

You want to find the flippers/rehabbers that do nothing but fix and sell homes. These guys will take 2-3 properties every month.

If you can build a solid relationship with just 2 or 3 of these people, you are already on your way to becoming very successful.

It's also important to differentiate between just another investor and a buyer. You want people who want to do business immediately and know how to get the fund to do so.

Unless you have one buyer with a solid commitment to purchase your properties no matter what, I would not attempt to contract out a home with just one investor on the books.