hey guys, I'm new to bigger pockets and investing all together. I would like to know how you guys built up your buyers lists, and how you guys present deals to them. Also if anyone would like to be added to our buyers list please leave name and email. We are jandjinvestors llc. We will be conducting business in the Philadelphia and southern jersey areas and thank you in advance.
I think this question gets posed a fair amount on BP, so I imagine you will get mixed responses. I think there are two great places to start, but go to your local REIA and introduce yourself, try to find out who the real players are and take note. However, I think the experienced wholesalers and investors will most likely tell you to go out and find a deal. I think this is the best advice( Sorry to those who don't agree it's just my opinion). However, before you go find a deal you should really do some research on what makes up a good deal for your end buyer because ultimately that will make you a good wholesaler and somebody true cash buyers' want to work with. Once you understand the fundamentals of what comprises a truly good deal. Go out and put one under contract. Once you have a deal under contract there are lots of ways to market to you end buyer, but Craigslist and the BP marketplace are two places that come to mind. I apologize for prefacing this with if you have a good deal, but if you have a really good deal you will meet a few investors to help start with your cash buyers' list. Best of luck in your endeavors! Cheers!
Thank you Stuart. I guess the reason it gets posted so much is that with new investors like myself the fear of not being able to find a buyer is huge. But i guess every business has some type of risk. What you are saying is it's be best to first educate yourself to minimize risk, and then find a good deal and because the market is so competitive, finding a buyer would be the easy part.
The best way to build a buyer"s list is to find a deal that people want to buy. If they can make money from your deal, they'll want more deals, that's your buyer's list. Don't be afraid of not being able to find a buyer once you get a property under contract. As long as you have an out in your contract (partner approval is popular), if you can't find a buyer, your deal falls thru and you find another deal.
I think the element of understanding what makes a good deal is critical to being a good wholesaler. That will help you develop the relationships needed to find a buyers' list. In addition, I completely understand the fear of not finding a buyer. Since I don't know your market I don't know how competitive it is, so I am only speaking to what I know in Colorado. The truth is a good deal will bring the buyers' to you. Best of luck!