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Tom Krol
  • Investor
  • Port Saint Lucie, FL
93
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What Your Cash Buyers “Don’t Want” is more important then what they think they “Do Want”

Tom Krol
  • Investor
  • Port Saint Lucie, FL
Posted Jul 14 2014, 05:33

Slice through the BS and get the Right Cash Buyers to your Wholesale Deals ASAP.

Buyers are NEVER 100% clear on what they do want, but they are ALWAYS 100% clear on what they don’t want!

What does every Cash Buyer say (besides “let me see your deals first”) during the initial conversation “I’ll take a look at any good deal” – Well as every Wholesaler knows that is complete BS.

What difference does it make if you know what they THINK they want. The truth of the matter is that’s not how they buy!!! Here is the mind of a buyer…

“I once got burned rehabbing a house in this part of town, is this house in that area of town?”

or

“It took me 3 months to rent out that small 2 bedroom house I bought last year, is this house too small?”

When you e-mail out a property it could be the “Deal of the Century”, but if it’s in a neighborhood your buyer doesn’t like he or she will not even open it! Or you send out a “Landlord’s Dream House” with “High Returns”, some won’t look twice if it’s under 1400 square feet!

Knowing what they want combined with what they don’t want will put you in a very powerful position, easily creating FEEDING FRENZY around your deals!

Check out these examples (always double confirm):

Are there any parts of town you avoid?

No? OK, so you are actively looking for properties in (worse area)

Do you have min/max numbers on square footage?

No? OK, so under 1,000 sf is in your wheel house

Here are my buyers BIG 8:

  • 1.Square Footage (min/max)
  • 2.Type of house (single family, multifamily, two story, townhouse, condo, etc…)
  • 3.B/B Count (min/max)
  • 4.Specific area’s they want / don’t want (get granular on this)
  • 5.Construction Type (important in FL - Frame / CBS)
  • 6.Pool House vs. No Pool (insurance reasons)
  • 7.Rehab Commitment
  • 8.Home Owner Association Fees

What are your buyers big decision points?

To Great Real Estate Adventures,

Tom Krol

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