I'm reaching out to a lot of different real estate agents because I would like to find deals on the MLS site but most importantly I would like to find out all of the cash buyers within the last 90 days. No one I talk to really want to do business or understand what I'm talking about . what am I doing wrong ? Can some help me figure this out ?
What are you offering in return for their time?
You're probably not going to get far trying to wholesale properties listed on MLS. I also wouldn't waste too much time worrying about finding a list of cash buyers. Focus on finding a motivated seller who hasn't already listed their property and if you find a good deal to wholesale you won't have to worry about finding a cash buyer, they will find you.
I am trying to explore every possible avenue to obtain motivated sellers in my area. I have been struggling thinking how I could effectively use the existing infrastructure of real estate agents, (not MLS properties), without getting sucked into only working with one. I want to have an equitable relationship with whoever supplies a potential deal but not be married to one real estate agent.
So I obtained a list of agents from Zillow of my area and effectively shot gun emailed them, (30 so far) with who I am, my website and the kind of distressed property I am looking for. I also asked them to forward my contact to any colleagues who may be looking for buyers like me.
We will see how this works if at all.
Chris K has the best advice. Market for a deal yourself. However, if you really want to work with a RE agent, you are overlooking a great resource. It's right under your nose.
Go to the top of the Bigger Pockets page you're on right now, click the 'Network' tab, and click 'Find Members.' In the Atlanta market, I have more than 40 pages of members, many of whom are RE agents who specifically want to work with investors.
Well, some really bad advice actually, best advice was to network on BP.
Exactly the sour issues of new wholesalers, finding a seller and then going out and beating the bushes.
Go to the courthouse to deed filings. Look for recent (past 2 years) of warranty or special warranty deeds transferred where no deed of trust was filed, that is 90% of the time a cash buyer. Find the same name several times, you just found a cash paying investor!
Not sure what you're asking Realtors, you do understand that asking them who their cash buyers are really puts pie in your face, that's just dumb, like "please tell me who you deal with so I can deal with them, get your buyer's list, so they will do fewer deal with you....you don't mind if I steal deals away from you, do you?" Hope that wasn't what you were asking!
There are also other issues with approaching Realtors, approaching them with some happy go lucky approach asking them to pay you for leads is illegal, asking for their client's information is unethical and asking them to be unethical. My advice is stay away from Realtors until you learn their role in RE, their professional ethics, agency relationships and how they do business. If you spoke to all the Realtors in town, you have already gotten a black eye to your reputation, most likely. Better learn first, then approach one again and explain that you are new, learning and might even say you apologize for putting them on the spot and start over, just building a better relationship, but most don't take kindly to wholesalers, so don't go there, initially.
I see most here posting are new, try searching the wholesale threads and read, you'll see the issues of following guru junk and the problems that can arise. :)
Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com
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