How to build a cash buyers list from scratch

Question

Hi BP community,

As I dive deeper into the world of real estate wholesaling, I've realized the importance of having a robust cash buyers list before launching into serious campaigns. Building this foundation seems essential for success.

I have just a few questions and would greatly appreciate any of your insights:

1.) What strategies have you found most effective for building a solid buyers list from scratch?

2.) Are any of you currently investing in, or considering investing in, my local market in Northern NY, particularly in Oswego, Jefferson, Lewis, and St. Lawrence counties?

3.) How do you organize your buyers list for efficient use? I'm considering creating buyer profiles to quickly match investors with properties based on their specific criteria. Does anyone have experience with this approach?

Looking forward to hearing from you all and learning from your experiences.

Thank you kindly,

Jon Mekeel

Gustavo Munoz Castro · Answer

That first answer sounds crazy but it DOES happen all the time, fun part when someone replies all asking people to "remove them" from the list and/or "please stop replying all"!

Networking with investors would be my best bet to quickly build a buyers list.

Jonathan Greene · Answer

Go to every meetup you can find and make connections instead of trying to drag people onto your list. Also, what are you considering cash buyers? Cash as in cash or you want hard money, private money, HELOC money?

You have to build a funnel of good properties and then the cash buyers will find you also.

Costin I. · Answer

@Jon Mekeel - I'll give you two-in-one answer: get on the list of all wholesalers you can find and watch their emails - periodically, one will make the mistake of sending one with their whole list of recipients in the TO field. You'll be able to get your hands on hundreds of email addresses in one swoop. Hint: learn to use the BCC field or a CRM so you don't make the same mistake.

Bonus #2: if you send cards or do cold calling and use VA, have a script for people who are not looking to sell, but to buy more - those are also cash buyers often. I get cards (and call them back) and calls to sell my investment properties, and I tell them "I'm not looking to sell, but to buy more and to add me to their buyers list", ...and they don't know what to do, don't collect info, etc. Wasted opportunity for the wholesaler.

Preston Dean · Answer

@Jon Mekeel

In Texas, after a property is sold you can see if it was cash/conventional. If someone you work with has local access to the MLS you can see what properties were purchased with cash and then cross reference those address to phone numbers and names

How to build a cash buyers list from scratch

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