Still very new, reading a lot, but haven't yet found this answer. How do I build my buyers list? especially during this time, there aren't any meet-ups. What is the best strategy: find a house then a buyer or find out what the buyers want and then find the homes or it doesn't matter a good deal is a good deal?
I am extremely eager! Hungry! I have already started talking to people about distressed properties, but honestly, I haven't figured out the next step. I did find a few properties here in Queens, NY, that I have not seen listed anywhere but I was not able to get in contact with the owner. What do I do with this property just leave it?
- To answer your first question, I've included a part from fortunebuilders.com's article (https://www.fortunebuilders.com/wholesale-buyers-list/) on the topic
- "1) Attend networking events and trade shows to meet interested investors.
- 2) Launch an email marketing campaign to reach large numbers at a time.
- 3) Start a direct mail campaign searching for potential buyers.
- 4) Hand out business cards to anyone you meet, letting them know what you are looking for.
- 5) Create content online to spread the news about your real estate investing business.
- 6) Build a strong website to attract potential leads to your business.
- 7) Post on social media and begin building an audience online.
- 8) Place a few well-positioned bandit signs in your market area.
- 9) Look around the neighborhood for “for rent” signs.
- 10) Search Craigslist for real estate investors who may be searching for a new property.
- 11) Partner with a real estate agent who may know of interested buyers in the area."
Another way to do so is to build your reputation on biggerpockets. Get yourself out there by responding to people's questions and doing their research for them. People will appreciate and begin to respect your time and effort diving into their issues. At the end of the day, that's what wholesalers do right? Free up time and effort for investors in exchange for a future reward.
Partnering with a real estate agent might be a great idea, just make sure you vet the agents and find one that works with investors.
To answer your second question, try skip tracing. I've included a quick video (https://youtu.be/Ye9ngKUBP_Q) on how to do it, made by a very reputable house flipper who goes by the name Flipping Mastery TV on YouTube.
Hope you find some use in my response :)
To answer the question of "Do I find the house or investor first?", find the investor first. Find out what they want so that you aren't wasting anyone's time when searching for potential investments. They will provide you with a list of criteria and you should base your searching around this.
I disagree with most of what was said above. You can't build one without the other. If you try to build a buyer's list without homes, why would someone want to be on your list if you have no homes and have never had any under wholesale contract? On the other hand, if you get a house under contract and have no buyers, you will be short. You have to work all angles of the business and the list is way too Internet and social media heavy. All that does is bring you to time sucks and dead ends. Look for meetups that have gone virtual, connect with local REI and wholesalers via BP, but do not follow that list unless you want to spend a bunch of time going around in circles when you could be making one-to-one connections as a couple of the points allude to.
I will give you the fastest and easiest way to find buyers, in fact they're going to find you, FIND GOOD DEALS!!! It doesn't matter if you find a good deal on a house, condo, trailer, land, etc., all that matters is that it's a good deal and an investor can make money. If you advertise a REAL wholesale deal, not one that's tight on the numbers with an overinflated ARV but a REAL wholesale deal, you'll have no problem finding buyers and building a list.