Finding Buyers

3 Replies

How do I find buyers in an area that does not have an REI club near by? My only networking options are Bigger Pockets and Facebook.

@Ronda McCormick ,

I don't have much experience with finding buyers, but I do have experience in small towns without REIAs.

I tend to agree with the idea that networking is a lifestyle choice.  I feel like the least forced and the most organic way of building the network is by talking about what you do to the circles you're currently in.

Here's a free piece of grey matter outsourcing for you: set up coffee or lunch with a local realtor. Explain to them that you're a REI and would like to keep a market scan for upcoming properties that might work as investment properties. Even as a wholesaler you should be up on what is available in the market.

Once you find the right realtor contact, you can throw them business that won't necessarily fit in the parameters of your business model.  They win, you win.

Speaking from the standpoint of a buyer:

You're going to need to put together a solid package detailing the investment opportunity and introducing them to the local area.  A standardized report would work great, with the right numbers.  Just make sure you find out what your buyers want to know and you can make your workflow super simple.   

I work with a couple wholesalers. The less professional ones will only send me a text with the beds/baths and asking price (and maybe a guess at an optomistic ARV). This is a huge pet peeve of mine. If you honestly think I'm going to lift a finger to dig into a property with minimal effort on the wholesalers part. I'll verify all day long once something is proven worth looking at. We all have craigslist and a million other internet resources. I could spend my time looking for deals all day, but then why would I work with a wholesaler? It just cracks me up, and strikes a nerve.

I also think BP is a very valid place to network.  I think a bunch of like-minded folks in the same cyber-space is a prime location to find people who might be interested.

I'd love to hear about what you're doing in Dalhart.

Good luck!

-Sam

At the top of the BP Wholesaling forum, there is a sticky topic on finding buyers. 

@SamuelDeMass thank you for your great advice! I will find a local realtor and start there.

@Steve Babiak I will check out the form. Thank you!

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you