A fellow business partner and I have decided to step into the real estate industry in the DFW area. We are currently searching for our first wholesale deal and have so many ideas. However, we do not know exactly what to start with first. Anyone mind sharing tips on how we can find investors willing to buy contracts from wholesalers?
We thought about calling the numbers from bandit signs but it seems like we would run into a bunch of wholesalers who are doing the same thing as us. I have a few numbers saved in my phone that I’ve taken down from bandit signs, but I was wondering if there were any other ways for new wholesalers to meet investors. Thank you all in advance for your help!
Meetups are a great place to meet and build a buyers list. Start building your reputation and the list will build itself.
Thank you Alicia! I recently attended my first meet up and you were absolutely right. I got this! 💪🏾
@Regina Young - Great question and I am also looking to get into wholesaling in my area as well, mostly to source off market deals for myself. A great place to find investors would be local real estate investor focused Facebook groups. For my local groups, I see a lot of off market deals posted on those sites and they get a lot of traffic. I also recommend finding investor focused brokerages near you and making connections with them. They deal with investors frequently and would be happy if you brought a deal to one of their investors. Lastly, you could always develop a direct marketing campaign to owners with multiple properties in your area letting them know you have deals and are looking for local investors. They're endless ways to get buyers. At the end of the day, if you find the deal, buyers will come flocking by the masses.
You can't build a buyer's list before you have any properties because you have no value, which is why, as others have said, you need to build relationships within your REI community online and offline. Being a new wholesaler in DFW is like opening a new pizza place in Brooklyn - why? What's your marketing budget? Do you understand how to comp the rehab costs of a property? Do you understand how to estimate the true ARV of a property? If not, you can't make a list because you don't have things that will keep anyone on the list, including properties.
There are Facebook groups for DFW investors and things like that. If you found a real deal and posted it there you'd have more buyers than you could ever do anything with. The hard part is finding deals.
If you go this route just make sure you know how to determine what a deal is, when you find a deal and market it even for the briefest of time you will get more piranhas than you know what to do with. :)