How many buyers on my list do I need?

Question

How many buyers should I have on my buyers list before I start marketing for motivated sellers?

I have approximately 15 or so, is that enough?

Are bandit signs great for attracting cash buyers? What would they need to say?

I appreciate the help guys!

Guy Raveh · Answer

It seems like we see this statement almost daily on BP “just find a great deal and buyers will easily find you”.

Guys this is only true when you find AMAZING / no brainer deals. Thats easy - if you find a property with ARV of $100K and you can pick it up for $40K then of course you will easily find a buyer. The question is what about the $60K or $70K or $75 with ARV of $100K. You need to have a strong buyers list for the OK deals. Not for the no brainer deals.

And if you’re going to come across an OK deal you will be very happy that you have have assembeled a large number of buyers on your list prior to finding the deal. One of them will be very happy to take the $70K deal from you and still pay your fee.

Michael Herr · Answer

1 or 0 is enough: 15 is definitely enough to focus on the hard part: find a deal.

Find a real deal and buyers won't be an issue.

Kathryn C. · Answer

Best advice I've ever heard is build your buyers list first and find properties that work for them.  Far too many wholesalers focus on finding the property.  So if you have one cash buyer right now then start looking for something that will work for them. The internet is your friend and this is how you're going to find the property. Become a master in internet research and you'll never need for buyers or sellers and you'll find others to do business with in the process.

Curt Davis · Answer

Bandit signs are better for attracting sellers over buyers.

If you have even 1 buyer you can start looking for a property for them but find out what their specific criteria is.

Good luck