My Name is Eliott Harris, just started wholesaling because i want financial freedom. So far i have 1 deal under contract.
Any tips on how to find Cash Buyers?
@Eliott Harris There are plenty that hang around here on BP. The bigger challenge (in my opinion) is how you present the deals to those cash-buyers. So far my interactions with wholesalers haven’t been super awesome: ARV is way off, rehab costs are materials only, etc. I don’t mind doing my own due diligence but if the wholesaler is so far out of alignment with reality (in my estimation anyway) then creditability flys out of the window. Anyway, I’d imagine you can also hit up REIAs. Just make sure your numbers are sane, accurate, and well thought out. My three cents anyway... 🤷🏻♂️
@Eliott Harris I would have to agree with @Andrew Jonhson. I wholesale and assign, I found the best way to connect with buyers is to go/host REI events in your area. When presenting properties to buyers, I find it best to bring my builder with me to discuss the rehab cost and I will show them homes that will fit the ARV you present. In my case I find homes below market value and that will get most of my buyers interested, but it's all about presentation. Make sure you have a template the goes over the basics: Cost, Rehab, ARV, Market Analysis, Proposed Business Plan. Hopefully this helps.
Hey @Eliott Harris !
Lucky for you, this question has been answered hundreds of times on this forum. With a quick search using the biggerpockets search bar, if you type in “how to find cash buyers” you’ll find more strategies than you will ever get on this single thread.
Regardless here are a few ways I’ve used with success:
- Post ads looking for buyers
- Reach out to ads looking for deals
- See if fully remodeled listings were purchased recently. Reach out to work with seller/sellers realtor.
- Never gave it much attention but met a few buyers on the platform.
- Look for private money lenders. They know a large amount of flippers.
Local Investor Meetup
Too many more to list but hopefully you take heed of my advice and use the search bar. In my opinion it is the best function BP has to offer.
Thank you so much for the advice @Andrew Johnson Account Closed
i'm very excited to learn more and more about this niche
@Eliott Harris That's what BP is for my dude, reach out anytime you have questions.
@Gabe Amedee What type of LinkedIn search do you use to find private money lenders? Any keywords you look for?
In my market, most direct lenders know of someone who does private money lending so I’ll do a general search for “lender” in Miami and skim each of their profiles to see if it says anywhere that they also do private lending.
I typically do not reach out until I have a solid deal to present to them. I used to use each of my deals to acquire more buyers because in my eyes it is the best way to establish credibility. The minute I put a REAL (not wholetail) DEAL under contract I would reach out to each of them with a PDF presenting the property, the comparable sales within 0.25mi, pictures, and a full rehab estimate from my contractor.
I also welcome any criticism on my analysis and urge others to ask for feedback on your deal. It will help you analyze future deals from the perspective of a seasoned investor.
Sorry if I over delivered your simple question. Best of luck!
@Gabe Amedee Thanks for the thorough answer to my question. I'm still quite a newbie when it comes to REI, but I'm well-versed in using LinkedIn for B2B lead generation and nurturing programs... trying to figure out how to create a similar process for myself and REI. Your tips were incredibly helpful!
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