BiggerPockets

I see a lot of bandit signs in my farm area. I have called many of them but when I call most of them seem to be wholesalers as well. Some say they have cash investors but most seem to be looking for properties so that they can wholesale them to cash investors. I can I find cash buyers who are mostly or strickly looking for houses that they can buy at a discount? Some of the wholesalers say that we can split the assignment fee which is okay at times but I would much rather assign these properties by myself so that I can generate enough capital to buy properties outright.

Thanks Mariah for your response. I will definitely ask my buyers those questions because some of them are definitely not funding my deals they are going to their buyer's lists as well.

Sherri,
I replied to your other post about wholesaling (see my blog below for reference on why you should network with other wholesalers). Also, don't assume that all of the wholesalers are on their A game. I ALWAYS call these signs. Sometimes they never call back. I got in touch with one guy that had no idea his sign was out on a road side ---- it had been over a year since he had looked at buying a property

Steve and Brooks thanks for your knowledge and sharing it with people like myself. You guys have definitely helped me to broaden my search scope. BTW obtaining an MLS listing of cash buyers was something I was thinking of but I either have to have my RE license or know someone that does and would be willing to supply this list, right?

Hi Sherri,

I am a cash buyer located in the Springfield MA area. If you have any good rehab deals in decent neighborhoods let me know.

We bought 6 properties over the last couple weeks and are always looking for more.

Hi Sherri,

I am a cash buyer in the Springfield MA area.

One way I find other cash buyers is to look at Craigslist and see who is advertising vacant rehabbed houses for sale. I will then look at the tax records to see when they bought it and if they paid cash.

I like this method because you know these are active rehabbers and you can usually get their phone and email right off Craigslist.

Sherri

Here is an easy (yet manual) way to find cash buyers in your area. This is the exact way that we have built our wholesaling business into one of the largest in the country. Hope it helps.

1. Search MLS (you or someone that has access) for properties that under the "financing" section of the listing used the words "Cash Only" or "Cash Offer" or just "Cash"

2. Also in the criteria, make sure that you select only listings with a status of "closed" - not pending, active, or expired

3. This report will now show you all MLS transactions in your area that closed for cash

4. Take the property address and look it up on your County Tax Assesor's website

5. The new owner of record will appear with their mailing address

You now know a cash buyer, the address of the property the purchased, and their mailing address

Build this database and begin marketing to them immediately - advertising that you are a local investor and want to sell them houses.

This one strategy took us from flipping a few houses a year to flipping over 800 in the last 5 years. 221 just last year.

I hope that helps.

Kent
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