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Posted almost 8 years ago

Wholesale 101- Finding the Buyer

Hello all. I hope that these blogs have been helpful for you. Today I would like to get into finding buyers for your properties. I have seen a lot of different methods for finding buyers. You can do things from posting bandit signs on the weekends to finding buyers on BiggerPockets. The great thing is that there is no shortage of buyers for us wholesalers. 

There is no tricks to this just like anything else in this business. If you have a property under contract and the numbers are good, you will have no problem finding a buyer for the property. I will make this simple for those that have never attempted to find a buyer. After you get the property under contract, you will take pictures of the property so that you can create a file for your potential buyers. In this file you will have the ARV of the property, estimated repairs, pictures and your selling price (With your assignment fee included). Now, you are able to post this information to a site like Craigslist but beware. There are other wholesalers acting like buyers so you need to vet them. 

When a buyer contacts you, don't be afraid to ask them for proof of funds. This will separate the real buyers from the fakes. However, don't focus too much on it. Sometimes they can just give the the name of their company and you can look them up online or in the country records to see if they have actually purchased properties before. The key is to get about 3 or 4 "best buyers." A "best buyer" is a buyer that you know will close the deal whenever you bring them a property. I have 5 of these guys on my team locked and loaded at all times. After you have accomplished who your "best buyers" are, then you build the rest of your buyers list. These are the buyers that take a while to buy but nonetheless, they are buyers.

Once again wholesalers, I appreciate you all reading my blogs. All feedback is appreciated and be on the lookout for the next blog. 

Thanks, 

Louis D 


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