How do you build a buyers list?

Question

Hi again everyone,

Looking for some ideas of ways to build a buyers list? When I make my cold calls I occasionally come across someone who is a flipper, rehabber, or investor, so I inform them I am a wholesaler and ask what they are looking for and where they are looking for it. Then I go and add them to my buyers list for future use. I've only talked to a couple of them however, and am just nervous that when I find a great property and lock it up that I won't be able to find any buyers.

If I found a property right now I would go to town on Craigslist, look for buyers at my local REI club meetings, check out the BP Marketplace, etc.. But building a buyers list would make a great side project for me to work on.

Thanks,

Mike

Kyle J. · Answer

Here's a pretty comprehensive sticky thread on this topic: http://www.biggerpockets.com/forums/93/topics/54108-buyer-s-list-how-to-

Karl Krentzel · Answer

My personal opinion?  The best way to build a powerful buyers list is to generate a valuable product for them to buy.

I know it sounds trite, and almost "Which came first, the chicken or the egg?" but quite frankly, when you are going to get "The Barbie Doll Effect."

The "Barbie Doll" effect is what you get when you ask a rehabber what they would want if you could find it.  They always describe the perfect thing.

However, if you can find them something that isn't quite a "Barbie Doll", many times, they would take it.

Therefore, it makes sense to find the "Barbie Dolls" as well as the "no name brand" doll.

When you control the inventory, you control the market.

When you have a great property under contract, you will NEVER have a problem selling it if it is priced well.

Just my two centavos my man!

Have a Powerful Sales Day!

Mike Gallagher · Answer

go to the local rei meetings and network

Morry Eghbal · Answer

@James Wise is right. Don't worry about the buyers...you work to get the deals and it will bring the buyers.

James Wise · Answer

If you have real deals the buyers will contact you when you advertise the deal.

Terry Evans · Answer

Sign up to receive from propertyblasthomes.com

Its a website realtors use to pitch their listings. You will typically receive 2-3 a day.

Over time you build a massive list of realtor e-mails from the daily email blast

I had about 1000 but somehow managed to delete a majority. Rebuilding it every day.

Good Luck.

Also local meet-ups are a great place to find buyers. You will only find a couple at each meet up, so go to as many as possible and grab those cards!

The Propertyblast.com option seems to be the least labor intensive way of building a buyers list. OR at least a list of folks who probably know several buyers each.

How do you build a buyers list?

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