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<\/p>\nIt\u2019s a classic question: which came first, the chicken or the egg?<\/p>\n
In the wholesaling world, it\u2019s \u201cwhich comes first, the cash buyer or the deal?\u201d After all, the deal is what will attract the cash buyer, but without the\u00a0cash buyer, you can\u2019t do anything with the deal. This question stops many new investors from ever taking action.<\/p>\n
The problem is compounded because of all the wholesaling gurus out there. You sign up for a free seminar on wholesaling, get upsold to a weekend boot camp, and the only thing you get out of it is \u201chow to build your cash buyers list.\u201d<\/p>\n
Here\u2019s a little secret: finding cash buyers is the easiest part of the entire wholesaling process.<\/p>\n
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Related:<\/strong> 3 Ways to Find Comps When Determining ARV for Your Wholesaling Deal<\/a><\/em><\/p>\n Seriously, you are about to be amazed at just how easy (and cheap) it is to find more cash buyers than you\u2019ll ever be able to sell to. I believe this is why the gurus use the phrase \u201ccash buyers\u201d so frequently; they know that if they can convince you that finding cash buyers is the solution to all your problems, you\u2019ll pay big money to find out that \u201csecret,\u201d and you\u2019ll be convinced that you are a legit wholesaler\u2014and that they are a god (they\u2019re not!).<\/p>\n Every day, newbie wholesalers straight from the latest and greatest guru boot camp jump onto the BiggerPockets Real Estate Marketplace<\/a> and place an ad saying, \u201cI\u2019m looking to build my cash buyers list!\u201d However, after that initial post, we never hear from them again. They were duped into thinking that if they only had the cash buyers, everything else would fall into place. It\u2019s very sad.<\/p>\n Related:<\/strong> A 60-Day Action Guide to Wholesaling Your First Property<\/a><\/em><\/p>\n The truth is, cash buyers are everywhere, but cash buyers do not mean anything if you don\u2019t know how to get a good deal. So, we\u2019re back to the original question: which comes first, the cash buyer or the deal? So, do both. Find cash buyers while you are marketing for good deals. The one major benefit to finding cash buyers first is being able to gain some free education from them on what makes a good deal. Therefore, if you really need an answer to the question \u201cwhich comes first?\u201d go find one cash buyer who is willing to train you on what they want from a deal.<\/p>\n Then go out and find a perfect deal for them. You can build your business from there.<\/p>\n [ This article is an excerpt from Brandon Turner’s <\/em>The Book on Investing in Real Estate with No (and Low) Money Down<\/a>. ]<\/em><\/p>\nDon’t Be Fooled by the Chase for Cash Buyers<\/h2>\n
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<\/p>\nFinding the Deal is the Hard Part<\/h2>\n
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\n<\/em>It doesn\u2019t matter. You can find the deal first and easily find a cash buyer for it later or you can easily find the cash buyer first and then go find the deal. Either way, finding the deal is the hard part, and you need to understand that. Once you realize that locating cash buyers as a first step or last step doesn\u2019t change your outcome, the issue becomes much less important.<\/p>\n
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