Where to find cash buyers (creative ways)
Member since 2023 · 20 posts · 2 votes
Where to find cash buyers (creative ways)
Most Popular Reply
Member since 2022 · 2 posts · 5 votes
3yQuote from @Jerryll Noorden:
Take a few steps back.
You are asking where do I find fish. Yes, the ociean sure. That doesn't mean you will catch fish.
Where to find cash buyers is not the question you should be asking. You should be asking how do you get cash buyers to buy your deals because if you figure out how to get cash buyers to buy your deals you don't need to worry about where to find them.
So to answer your question let me give you a few examples.
Example 1:
https://www.zillow.com/homedetails/52-Stonybrook-Rd-Gales-Fe...
52 stony brook rd.
Bought this house for $40K. ARV is $310K
Cost of repairs is $60K.
My wholesale fee is $100K
Cash buyer still makes $80K for a 6-week flip.
Example 2:
https://www.zillow.com/homedetails/32-Starr-St-New-London-CT...
32 Starr st New london CT
Bought this house for 10 dollars. (yes, ten dollars).
ARV is about $280K
Needs about $80K in repairs.
Wholesale fee = $100K and the cash buyer walks away with $80K for an 8-week flip.
Good deal? Of course.
Every time we wholesale a deal we earn between $50K and $100K assignsment fees (per deal).
Do you think the cash buyer will think twice buying my contracts? Nope. They know who they need to be networking with and who they should NOT be networking with.
So again, the question is not, how or where do I find cash buyers? The question you need to be asking is, how do I get cach buyers to buy my deals.
Answer, ONLY sign homerun deals. You are more than likely targeting the wrong audience (if you are not getting my kind of deals). The issue lies within, your lead generation. If you get home run deals, cash buyers will NEVER be an issue.
Hope this helps.
If anyone wants to know how we target this kind of deals, just respond here and I will explain it all in this tread.
Good luck.
I would love to know how you target these kind of deals. Please share.
7 Replies
- Tampa Bay · Member since 2023 · 13 posts · 4 votes3yTools like propstream, prop wire, DealMachine etc have a search function to search for cash buyers/fix n flippers.
Quote from @Lily Martin:
Hi everyone Im a new real estate agent and I work for a wholesale brokerage. I'm curious what are the best ways to find buyers. I already use facebook, craigslist, and mls. Any feedback would be great.
- Tampa Bay · Member since 2023 · 13 posts · 4 votes3y
Quote from @Georgios Skouras:
Tools like propstream, prop wire, DealMachine etc have a search function to search for cash buyers/fix n flippers.Quote from @Lily Martin:
Hi everyone Im a new real estate agent and I work for a wholesale brokerage. I'm curious what are the best ways to find buyers. I already use facebook, craigslist, and mls. Any feedback would be great.
Also networking events in your local area
- Title Representative · Irvine, CA · Member since 2017 · 874 posts · 519 votes3y
InvestorLift has buyers who have used debt, which sometimes that your only buyer type. If it's an established investor who has an existing relationship with a lender/bank who understands what it is, then that can be fine.
- 3yDon KonipolBusiness MemberInvestor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votesFirst, you need to identify your target market, which in major part is determined by the type of property you’re selling. If SFR, are you selling to investors or owner occupants? If investors, are you selling property at market value? At wholesale prices? Are the properties rented or empty? Are significant repairs needed?
Quote from @Lily Martin:
Hi everyone Im a new real estate agent and I work for a wholesale brokerage. I'm curious what are the best ways to find buyers. I already use facebook, craigslist, and mls. Any feedback would be great.
once you determine the type of buyer, you go where those buyer “hang out”. Is there a Linked In group those type buyers participate in? A Facebook group? Are there meetups you can join, either virtually or in person, where those targeted buyers are likely to attend? A local REIA in the area?
Other ideas would be real estate attorneys, property insurance agents, accountants specializing in real property, etc.
Bottom line is that a real estate agent is a salesperson who needs to do their own prospecting. A BIG part of an agents success is their ability to develop quality list of prospects and convert those to clients. The successful agent needs much more than sales ability. They need to acquire a knowledge of the intricacies of real estate, real estate finance, local market, neighborhood, national and local economics, buyers financial strengths and weaknesses, and sellers wants, needs and motivations.
Bottom line the real estate agent FACILITATES real estate transactions. They do this by ADDING VALUE. The days of the agent making a sale because they has exclusive access to the local MLS are long gone. The surviving agents will truly facilitate the transaction by providing advice based on extensive knowledge; by completely understanding the real estate procedures, laws and regulations that govern transactions, and by having answers to problems arising in financing issues, title issues, legal issues, etc. - Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes3y
Take a few steps back.
You are asking where do I find fish. Yes, the ociean sure. That doesn't mean you will catch fish.
Where to find cash buyers is not the question you should be asking. You should be asking how do you get cash buyers to buy your deals because if you figure out how to get cash buyers to buy your deals you don't need to worry about where to find them.
So to answer your question let me give you a few examples.
Example 1:
https://www.zillow.com/homedetails/52-Stonybrook-Rd-Gales-Fe...
52 stony brook rd.
Bought this house for $40K. ARV is $310K
Cost of repairs is $60K.
My wholesale fee is $100K
Cash buyer still makes $80K for a 6-week flip.
Example 2:
https://www.zillow.com/homedetails/32-Starr-St-New-London-CT...
32 Starr st New london CT
Bought this house for 10 dollars. (yes, ten dollars).
ARV is about $280K
Needs about $80K in repairs.
Wholesale fee = $100K and the cash buyer walks away with $80K for an 8-week flip.
Good deal? Of course.
Every time we wholesale a deal we earn between $50K and $100K assignsment fees (per deal).
Do you think the cash buyer will think twice buying my contracts? Nope. They know who they need to be networking with and who they should NOT be networking with.
So again, the question is not, how or where do I find cash buyers? The question you need to be asking is, how do I get cach buyers to buy my deals.
Answer, ONLY sign homerun deals. You are more than likely targeting the wrong audience (if you are not getting my kind of deals). The issue lies within, your lead generation. If you get home run deals, cash buyers will NEVER be an issue.
Hope this helps.
If anyone wants to know how we target this kind of deals, just respond here and I will explain it all in this tread.
Good luck.
- New to Real Estate · Member since 2023 · 42 posts · 16 votes3y
Quote from @Georgios Skouras:
Tools like propstream, prop wire, DealMachine etc have a search function to search for cash buyers/fix n flippers.Quote from @Lily Martin:
Hi everyone Im a new real estate agent and I work for a wholesale brokerage. I'm curious what are the best ways to find buyers. I already use facebook, craigslist, and mls. Any feedback would be great.
I 2nd this
- Member since 2022 · 2 posts · 5 votes3y
Quote from @Jerryll Noorden:
Take a few steps back.
You are asking where do I find fish. Yes, the ociean sure. That doesn't mean you will catch fish.
Where to find cash buyers is not the question you should be asking. You should be asking how do you get cash buyers to buy your deals because if you figure out how to get cash buyers to buy your deals you don't need to worry about where to find them.
So to answer your question let me give you a few examples.
Example 1:
https://www.zillow.com/homedetails/52-Stonybrook-Rd-Gales-Fe...
52 stony brook rd.
Bought this house for $40K. ARV is $310K
Cost of repairs is $60K.
My wholesale fee is $100K
Cash buyer still makes $80K for a 6-week flip.
Example 2:
https://www.zillow.com/homedetails/32-Starr-St-New-London-CT...
32 Starr st New london CT
Bought this house for 10 dollars. (yes, ten dollars).
ARV is about $280K
Needs about $80K in repairs.
Wholesale fee = $100K and the cash buyer walks away with $80K for an 8-week flip.
Good deal? Of course.
Every time we wholesale a deal we earn between $50K and $100K assignsment fees (per deal).
Do you think the cash buyer will think twice buying my contracts? Nope. They know who they need to be networking with and who they should NOT be networking with.
So again, the question is not, how or where do I find cash buyers? The question you need to be asking is, how do I get cach buyers to buy my deals.
Answer, ONLY sign homerun deals. You are more than likely targeting the wrong audience (if you are not getting my kind of deals). The issue lies within, your lead generation. If you get home run deals, cash buyers will NEVER be an issue.
Hope this helps.
If anyone wants to know how we target this kind of deals, just respond here and I will explain it all in this tread.
Good luck.
I would love to know how you target these kind of deals. Please share.
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