Finding Cash Buyers in Virtual Markets

Starting Out
5yFollow

Finding Cash Buyers in Virtual Markets

Chris Harden
Member since 2021 · 12 posts · 6 votes

Hi Bigger Pockets members

We've finally opened escrow with our first investment property! In addition to that, another wholesaler offered to JV a deal to find a buyer together. After many lessons learned, I'm beginning to understand the fundamentals of how lead generation & conversion is about having quality conversations, and it's a great feeling! For all new investors who may read this, keep going!

For all experienced investors/ wholesalers who may read this, I'm wondering how do you network with cash buyers while in a virtual market? I'm currently living in Vegas, however the property under contract is in Northeast, Ohio. I've personally connected with a handful of local realtors in addition to calling a list of 200 investors, which yielded about 20 people mentioning that they'd like to join our Buyers list. However, most social media investor groups are filled with tire-kickers and it's tough to network at real estate auctions while out of state.

What are some other suggestions that would help grow the list of active buyers to 100, and then hopefully to 1,000?

Thanks in advance, for any advice you can share!

1Reply
24 views

Most Popular Reply

Taylor L.
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
5y

Do you have a website or a way for someone in OH to find you via internet search? (Google et al) Quick Wordpress site that says what you do, who you are, where you operate, and "submit your email here to get on our list" type of thing.

If I were in this position I would join as many local (virtual) meetups as possible and attend all of them. Talk with the host, see if you can add value and help them promote, then also ask if they know anyone. If you get the opportunity to introduce yourself, go for it. Take a list of attendee names then track those people down too. The good news is that SO many formerly in person meetups have gone online that you'll have a lot more options to choose from now than a few years ago.

You could also talk with any turnkey providers in the area and see if they're interested. @James Wise for example is in Northern OH and killing it!

Not a wholesaler, but I do invest from a distance (not in OH though). Those are a few things I'd do.

1Reply
See this reply in the discussion

4 Replies

Jump to latestLatest
  • Taylor L.
    Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
    5y

    Do you have a website or a way for someone in OH to find you via internet search? (Google et al) Quick Wordpress site that says what you do, who you are, where you operate, and "submit your email here to get on our list" type of thing.

    If I were in this position I would join as many local (virtual) meetups as possible and attend all of them. Talk with the host, see if you can add value and help them promote, then also ask if they know anyone. If you get the opportunity to introduce yourself, go for it. Take a list of attendee names then track those people down too. The good news is that SO many formerly in person meetups have gone online that you'll have a lot more options to choose from now than a few years ago.

    You could also talk with any turnkey providers in the area and see if they're interested. @James Wise for example is in Northern OH and killing it!

    Not a wholesaler, but I do invest from a distance (not in OH though). Those are a few things I'd do.

    1Reply
  • Chris Harden
    OP
    Member since 2021 · 12 posts · 6 votes
    5y

    Thank you Taylor,

    I dont yet have a website set up for investing in Ohio, however I'll implement your suggestion of joining a handful of local meetup groups and making an introduction with the host.  After a deal or two, I'll look to set up the website for sure.


    Thanks again!

    1Reply
  • Yoann Dorat
    Investor · Boca Raton FL · Member since 2017 · 255 posts · 188 votes
    5y

    @Chris Harden you're right most Facebook "buyers" are tire kickers however sometimes you can be surprised I found some great buyers and private lenders via REIA fb groups.

    In my opinion the best way to find qualified buyer is to create an account with PropStream or Batchleads, search your area (you can narrow by county, city or zip code), select “cash buyers” filter the ones who purchased within 12 months, skiptrace it (many services out there but both PropStream and Batchlead allow you to skip trace within the software), export the list and cold call all the buyers.

    You can also send mailers but you won’t have a great response rate, cold calling is definitely the most cost effective solution.

    It’s the only way to find “qualified” buyers because you already know they are active and have purchased properties similar than yours in your neighborhood within 12 months.

    Hope that’ll help.

    0Reply
  • Jason N.
    Specialist · Denver · Member since 2021 · 159 posts · 101 votes
    5y

    A lot of great ideas here, including attending REI focused virtual meetings to get your name out there. If people know who you are and what you know, your name will come up as relevant.

    I'd double down on the FB groups. Just like your marketing, this is going to be a numbers game. There are probably several groups focused on your state. The buyers themselves are in those groups or a wholesaler may be willing to connect you to a peer.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free