What is the best way to find cash buyers? I have enough properties as inventory but I need advise on how I can reach out to an investor(s)
What would you guys recommend?
Attend some REIA meetings, put together some packets on them detailing the investment and post them here on the marketplace or cantact Net Worth Realty in Houston. A couple off of the top if you have a deal the cash will come pouring through the door.
I am only posting 6 ways but there are a lot more! These will be a great way to start.
1) Craigslist: Go to Craigslist and look under the “apartment/housing” category. This is the section that shows rentals. Anyone who has a home for rent, rent to own or “lease purchase is an investor. Contact them. If they have homes for rent, they may need other rental properties to add to their portfolio. Look for terms like “completely renovated” You can also place ads for properties you have for sale as well as “Ghost Ads” to build your buyers list.
2) Google Search: Google is my secret weapon. Really. If I can’t figure it out, find it or just need more information, I almost always just “ask Google”. And, I do the same thing to find buyers for my wholesale houses. You can just type in, “we buy houses” or “cash for houses” in your area or city and you’ll find plenty of A-plus buyers. I’ve flipped many houses to buyers in under 3 hours using this simple search alone.
3) ListSource: Probably one of my favorite (paid) sources online. Finding the correct filter is the key to getting cash buyers from ListSource. These records cost approximately .08-.10 each. You can search for free until you get the list tweaked, then purchase with a credit card and download the list. If I were just starting I would buy a list from here and mail them a postcard right away!
4) MLS Cash Sales: You can also have an agent pull all cash transactions where no mortgage was recorded. Most MLS systems have this filter but you'll need to establish a relationship with an investor friendly agent to get this information emailed to you in a spreadsheet. You'll have to sort through the data and there are paid alternatives to this that will save a lot of time.
5) Other Wholesalers: This is a little trick I use to find investors. Many wholesalers list the homes they’ve recently sold. Guess what, many of these homes are sold to investors. So simply copy and paste the address and then see who bought it. And Viola! You’ve got a new investor you can contact. And you know how much this investor paid for the property and where he’s buying.
6) Bandit Signs: Put up bandit signs in the neighborhood’s you want to sell homes in. And here’s the key, don’t make them all fancy. I use black magic marker and hand write all my signs. Actually, I hire people to do it, but you get the idea. Make it look like you’re an individual, not some fancy company. Buyers pay attention to these signs. Do this every time you have a property for sale. If you don’t still do it with a “ghost” property or another wholesalers property until you have your own inventory.
@Rikesh Zala - I noticed you are an agent. Are these just listings, or properties you have under contract? Thanks
#5 is a good one! Didn't think of that. You have to be creative in business!
Thanks for the great actionable advice!
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