Real Estate Agent · Virginia Beach, VA · Member since 2024 · 20 posts · 8 votes
Hi,
What's the best way to find serious cash buyers for properties? I'm finding a lot of wholesalers who just want to assign contracts but having issues connecting with investors (I'm in the Hampton Roads, VA area). I've tried searching for groups on FB with some luck. I feel like I'm spinning my wheels a bit.
Investor · Charleston, SC · Member since 2011 · 606 posts · 413 votes
2y
Yes, it can be frustrating since on Facebook marketplace. For example, you'll get a lot of people calling that. Just want to put it under contract in the sign the contract. I specifically say that it must be a direct purchaser with cash in hand and no assignments. This gets rid of a lot of unnecessary calls. You need to look and find properties in your area that are being rehabbed, and stop by and talk the owner(s). Those are the people that typically have the capital to buy your property with cash. Also at foreclosure auctions you'll find cash buyers since it is requirement at the auction.
Yes, it can be frustrating since on Facebook marketplace. For example, you'll get a lot of people calling that. Just want to put it under contract in the sign the contract. I specifically say that it must be a direct purchaser with cash in hand and no assignments. This gets rid of a lot of unnecessary calls. You need to look and find properties in your area that are being rehabbed, and stop by and talk the owner(s). Those are the people that typically have the capital to buy your property with cash. Also at foreclosure auctions you'll find cash buyers since it is requirement at the auction.
That makes a lot of sense. I've been posting about the properties but not specifically stating the non-assignments. I hadn't even thought about the foreclosure auctions. Thank you!