Finding Buyers for Wholesaling
New investor and wholesaler, currently working with an existing company in Anderson, SC and the upstate South Carolina area. The company I'm working with has a wholesaling operation but I will be branching off on my own shortly and need to start finding buyers for my deals. Any guidance for the best places to find buyers lists? I have joined some Facebook groups and have heard that you can find buyers on Propstream as well but haven't looked into that side too much yet. Would love any thoughts on this.
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#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
Upstate CREIA realestate club has many cash buyers.
Lots of the tools out there from Realeflow to Propstream to List Source have the ability to pull cash buyers of properties. You then market to them the same as sellers.
@Evan Fletcher Below I've listed some recommendations for finding cash buyers.
Finding Cash Buyers:
- If you get a subscription to Propstream, you can type in any City and State, or Zipcode and click the cash buyers filter. It will pull back properties purchased using cash. I like to filter the owner type by “corporate.” Most cash buyers that regularly purchase, flip, or buy-and-hold will normally have an entity or entities that they use to conduct business. From there, grab the entity name, do a search of the Secretary of State’s corporation site, retrieve the filing documents; some will have a phone number listed, others just an address. Use this info to reach out and add them to your buyers' list. If you can’t find “members” or owners of the entity, try contacting the Registered Agent, they may potentially be able to assist (not in all cases).
- As mentioned above, the REIAs are a good resource.
- Network with wholesaler-friendly agents. There are many out there, but not so much on the internet, I’ve met plenty at the REIAs and in other investor circles.
- Visit the next real estate tax auction at the county courthouse. The folks bidding on properties, more often than not are cash buyers or their surrogates. Introduce yourself, get a business card if they have one. See how you can contact them if and when you have a deal.
- Partner with an established wholesaler, JV a deal and learn who is who (cash buyers) in the area.
- If you see an active flip going on at a property, stop by, introduce yourself to the GC or other contractors. See if they can share with you who is flipping the house. Network, network, network.
I represent a lot of cash buyers. Send me a message so we can connect!
Thanks so much for all the guidance, much appreciated