Craigslist to build a buyers list?

Question

Since I don't really have much money I was thinking about using craigslist to get my cash buyers list going so I can have my exit strategy ready ahead of time before I attempt to make my first deal. But what are your thoughts on this. I keep seeing people on youtube that post fake "for sale" ads to attract cash buyers. But why not post something straight and to the point?, like "****ATTENTION REI'S**** are you looking for that next big deal?. Then here's your chance to be on a list for great deals in your area." Or something along those lines.

Duncan Cole · Answer

As I'm sure many people will tell you, finding a cash buyer is not the difficult part of wholesaling. A list of buyers is usually unnecessary, two or three is all you should ever need. If you can find a property with enough value to pay your fee and still provide the end investor with a good return the hard part is done. As far as finding cash buyers, check your local real estate investing clubs, property and tax lien auctions or even ask hard money lenders for references. Many of these people will be able to get the cash needed to close on a deal if the return they want is there.

Chad Gibson · Answer

Account Closed which one drives you crazy, the ads that are fake, the one I suggested, or both?.

Andy Cross · Answer

I used craigslist to build my buyer list. I didn't do anything extravagant, and I didn't make a whole bunch of claims. And I still got hits to my website.

Michael S. Helton · Answer

Good wholesalers are worth their weight in gold.  If you find the deals, you will have buyers lined up out the door.  In this market there is a lot more money than deals.

If I had a wholesaler whole had dozens of good deals I guarantee that I would buy them all, or be able to line up other investors that would buy them in a heartbeat.

Step 1: find the deals.  That's the hard part.

Step 2: find the buyers.  That's the easy part.

Chad Gibson · Answer

Problem with that is that there aren't any wholesalers near me that are willing to help me. And when I get a response from one it's usually some jackass trying to sell me their webinar. I'm extremely limited on funds for the first deal I choose to take on, let alone paying for a webinar, so obviously whatever deal I find I'm gonna scrutinize till I'm 100% confident it's legit. I do have an experienced real estate agent who's one of my best friends to help me out and give me advice though.

Ned Carey · Answer

@Chad Gibson There is nothing wrong with the second approach but it screams newbie wholesaler that probably doesn't have any deals yet.

It will take time to find you first genuinely good deal so while looking build your list. It is easy to get names and find buyers when you know where to look. REI clubs, here on BP, stop at properties being rehabbed, go to auctions. In other words build your network.

If you have a clue how and where to market your property then finding a buyer when you have a genuinely good deal is not hard. One easy way is to joint venture with an already experienced wholesaler

The reason new wholesalers have trouble finding buyers is they don't really have a good deal. Many new investors fool themselves into thinking they have a good one.  Good luck - Ned

Craigslist to build a buyers list?

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