All
Members
Companies
Blog
Forums
Podcast
Webinars
    User Log in  /  Sign up
  • Forums
    Newest Posts Trending Discussions Followed Forums Real Estate News & Current Events General Landlording & Rental Properties Buying & Selling Real Estate Deal Analysis See All
  • Education

    Read

    BiggerPockets Blog BPInsights: Expert Analysis Guides Glossary Reviews Member Blogs

    Watch

    Webinars Video Library Financial Independence Blueprint Intro to Real Estate: Rentals

    Listen

    BiggerPockets Real Estate Podcast BiggerPockets Money Podcast BiggerPockets Business Podcast Real Estate Rookie Podcast Daily Podcast (Audio Blog)

    Topics

    Business Operations Finance Finding Deals Property Management Property Types Strategy
  • Network

    Recommended Vendors

    Real Estate Agents Mortgage Lenders Hard Money Lenders Insurance Contractors Investment Companies Build Your Team

    Search

    Members Events Jobs
  • Tools

    Calculators

    Rental Property Fix and Flip BRRRR Rehab Estimator
    Wholesaling Mortgage Payment 70% Rule Airbnb

    Services

    BPInsights: Property Insights Tenant Screening Property Management Lease Agreement Packages

    New Feature

    BPInsights (beta)

    Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood.

    Analyze a property
  • Find Deals
    Real Estate Listings Find Foreclosures External Link Ads, Jobs, and Other
  • Bookstore

    Real Estate Books

    Profit Like The Pros Bidding to Buy See all books

    Featured Book

    BiggerPockets Wealth Magazine book cover
    BiggerPockets Wealth Magazine

    Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Subscribe today and get the Oct/Nov issue delivered to your door!

    Get the Magazine
  • Pricing
Log In Sign up
User
Quick search links
Podcast Hard Money Lenders Books Washington
ForumsArrowStarting OutArrowAsking a buyer for there criteria
  • Newest Posts
    • Newest Posts
    • Unanswered Discussions
  • Trending
    • Top Discussions
    • Trending Discussions
  • Browse Forums
Search Nova
Create post

Asking a buyer for there criteria

5 Replies

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
Rotate Log in or sign up to reply
user profile avatar
  • Posts 32
  • Votes 14

Colin Williams
Rental Property Investor from Nantucket, MA

posted about 1 month ago

I'm getting ready to start a marketing campaign in a particular market. I'm interested in Wholesaling in this area and I've actually already spoken to a cash buyer about adding him to my buyers list. He called me first looking to buy my house, but I'm not selling at the moment.

I am wondering if I should get back in touch with him and ask him for specifics as far as his criteria? How should I go about doing that? Just call and be blunt about it and ask straight up, "what are you looking for", or do I need a bit more tact?

Rotate Log in or sign up to reply
user profile avatar
  • Posts 70
  • Votes 39

Chris Magma
Specialist from Austin

replied about 1 month ago

@Colin Williams just call them and be blunt. You need that information to see if the deals you have match their criteria. You can save money on marketing when creating a list of criteria for the buyers you add to your list. Instead of marketing (I call it spam) to a bunch of buyers who you don't have that criteria for, you can identify exactly what they want.

I use to do this all the time, but there are easier ways of getting buyers without asking a single question and know what they want to buy, how much they would pay, their financing etc... 


Hope that helps

Rotate Log in or sign up to reply
user profile avatar
  • Posts 32
  • Votes 14

Colin Williams
Rental Property Investor from Nantucket, MA

replied about 1 month ago

@Chris Magma absolutely helps. Thank you sir. And it very much is spam, but now it's my spam.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 390
  • Votes 511

Corey Hawkinson
Rental Property Investor from Bloomington, MN

replied about 1 month ago

@Colin Williams I agree with Chris. Just be direct. If I’m talking with a wholesaler I know exactly what I’m looking for.

Example response I would give if you asked me: “I’ll look at everything you have. If the numbers work, I’m interested. With that said, I work closely with a program in ——- county. If you have multi family places in the northern part of that county, preferably 3-8 units, I would be very interested. —— and —— are my two top cities in that county due to need, but I’m interested in everything in the northern half of that county.”

Rotate Log in or sign up to reply
user profile avatar
  • Posts 102
  • Votes 95

Justin Hoggatt
Investor from Morrison, CO

replied about 1 month ago

In quick response, yes, ask.  Don't ever be afraid to ask - "He that knows what he wants shall receive" - I don't know if that's what someone else has said, but it just kind of came out. :)

For your marketing, you can talk with a title company that can help pull lists for you and if you get a good enough relationship, they may do it for free and help you get that marketing going.  Just know that it's 'marketing' and that it will require follow up and time and additional points of contact - a follow up yellow letter, a phone call, etc.  It will likely take some time to get both sellers and buyers.  Definitely hook up with your local real estate investing club because they will be full of buyers if you find some good deals.  You'll need a lot more than just one buyer if you get some properties under contract.  Another idea will be to drive around, knock on doors, get out of the car and talk to people.  See if there are houses that need help, people that don't look like they live there, and ask neighbors if they know of anyone looking to sell.  When people hear "cash" they think it's so much better to go with that person versus listing and going through a loan process with a buyer.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 551
  • Votes 329

Braden C.
Real Estate Investor from Florida

replied about 1 month ago

@Colin Williams I wouldn't stick with just one buyers criteria, it's a sellers market and everyone is hungry for deals. He might only like 3/2 houses but I guarantee another investor would buy a 2/1 if it's a good enough deal. By limiting your criteria to one particular buyer, you could be missing several other opportunities. 

Rotate Log in or sign up to reply
  • 1

Related Discussions

  • Real Estate Wholesaling Questions & AnswersEmail To Buyers Asking for CriteriaJan 8 2019, 14:29
  • Buying & Selling Real Estate DiscussionBuyer asking for repairsJul 18 2017, 05:00
  • Real Estate Wholesaling Questions & AnswersBuyer asking for LTVApr 9 2014, 14:45

Related Blog Posts & Podcasts

  • BiggerPockets Daily 178: How to Choose the Right Mobile Home Park For Your Portfolio by Bryce RobertsonApr 10 2021, 00:00
Resources Read, see, and learn more!
Link Real Estate Investment Calculators
Link BiggerPockets Blog
Link Path to Purchase
Link Mortgage Loans
Link Find a Contractor
Link Real Estate Agents
Link Hard Money Lenders
Link Real Estate Listings

Top Contributors

Salvatore Lentini
Salvatore Lentini
Doylestown, PA
9.43
Score
Ciji Masser
Ciji Masser
Frederick MD
3.51
Score
Joe Villeneuve
Joe Villeneuve
Plymouth, MI
2.6
Score
Tre Irvin
Tre Irvin
Las Vegas, NV
2.55
Score
Jessica Piff
Jessica Piff
Churchville, MD
2.54
Score

Starting Out Trending Discussions

  • How do yall feel about buying a rental property all cash?
    73 Replies
  • External only inspection required?
    19 Replies
  • Hard Money Down Payments
    9 Replies
  • Are there good cash flowing opportunities in CT?
    6 Replies
  • stumbled on a potential deal what's next?
    4 Replies
Log in Sign up

Log in

Forgot password?

If you signed up for BiggerPockets via Facebook, you can log in with just one click!

Log in with Facebook

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Let's get started

We just need a few details to get you set up and ready to go!

Use your real name

Use at least 8 characters. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Why create an account?

Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing.

Connect with 1,000,000+ real estate investors!

Find local real estate meetups and events in your area.

Start analyzing real estate properties, we do the math for you.

It's free!

Explore

  • Membership
  • Community
  • Education
  • Marketplace
  • Tools
  • FilePlace
  • REI Resources
  • Perks
  • Glossary
  • Reviews
  • iOS App
  • Android App

Company

  • About Us
  • Press
  • Advertising
  • Careers
  • Stats
  • Contact Us

Important

  • Editorial Guidelines
  • Terms of Use
  • Rules
  • Privacy
  • FAQ

Social

  • Facebook
  • Twitter
  • YouTube
  • Instagram
© 2004-2021 BiggerPockets, LLC. All Rights Reserved.