Real Estate Investor · NY, NY · Member since 2008 · 67 posts · 5 votes
Hello everyone,
can somebody please guide me in the right direction as to how to go about finding a cash buyer? What are some of the requirements or specifications I should look for?
1. Courthouse steps has cash buyers - though they are a jaded bunch so have yourself organized before an approach - talk to one person off to the side - they are a secretive bunch also.
2. You could pull trustee's deeds and then look up the buyers after the sale.
3. How about looking up MLS listings that say "cash only" - when they close escrow - look up who bought it.
4. REI groups.
5. Select local hard money lender, look up what properties they have liens on, then look up the owner. These hard money borrowers are oftentimes a good as a cash buyer.
6. There are cash buyers for almost every area on Bigger Pockets - or at least people from every area that know cash buyers. Develop relationships for your area and then talk to them about the deal you can bring to the table.
7. Cash buyers are usually easy to find when you have a great deal.
8. That was my 30 second list - given time I am certain we can expand upon it. the key is all of the above can identify cash buyers - as long as you take the time to do the research - In reality you only need to know 1 -3 buyers for any product type that you could spin deals to - if you have 3 SFR buyers and none want your deal - its probably not a deal. same for commercial property etc. If you are looking for those willing to buy borderline deals then, well thats for another post.
Some of this is a repeat of Todd's post above - Sorry Todd I didn't read your post before I started typing.