Just a quick question for the more seasoned investor. What has been your most successful technique to build your buyers list?
@Victoria Nellon REIA's
Bring the deals.
Lie and say you have a great property. Describe the area and a few things about the property so that its believable. When the calls roll in explain that you just found a buyer for the property they are calling about, but that you can add them to your list because you have new properties coming in your pipeline (even though you haven't ever had one). Then hope these experienced cash buyers are stupid enough to believe the scam and give you their information. If you do get their information it doesn't matter because you still can't find deals and won't have a need to call them anyway.
Find REAL deals that have investors dying to get them and you'll have your list in no time!
You can look up county records or go talk to title agents to provide a list of the most frequent buyers of properties whether live persons or corporations/entities and you can mail them, call them, etc when you have deals that hit their criteria.
You can also go on listsource.com to find title searches, non owners, etc etc for your mailing lists to tie deals to the most frequent buyers in your given area to create a profit spread if you're trying to wholesale deals.
REIA's are great too but thats a slow way to do it one relationship and connection at a time. When you do title searches these are actual buyers so theres no doubt they are purchasing property. Just a tip.
Thank you Albert Bui & Mark Freeman, for the useful tips.
Ultimately, investors are looking for deals, so @James Wise has the best strategy.
Going to REIAs have been really helpful. Also, whenever I have a deal under contract (regardless if I already have a buyer), I always post on Craigslist as well as Postlets.com. Last but not least, you can meet other great RE investors right here on Bigger Pockets.
Fla. Wholesaler / Fla. Home Solutions, Inc.
I spoke to a guy who had been going to our REIA, seems most there were newbies and a few middle weights. I would think most are that way, the guys show up with seminars, loan officers speak, an attorney shows up. Are these real buyers? I would think eventually, some real buyers may show up, it could take a year to meet 4 real hitters.
Look in the newspaper, if you have one still, LOL, who advertises rentals?
Don't ignore property managers they know owners and buyers, network with them.
Landlords aren't hard to find, but do some homework. Check the names with the assessors office, you can probably see the number of units they own and where. Call the number advertised, "I was wondering if you would be interested in picking up another rental"..... I love cold calling.
Rehabbers are a bit harder to find but they advertise too, check CL ads. If you have a Builders Association, call them and ask for a list of remodel contractors.
Search "Builder's risk coverage" in your area, that should show insurance agents/brokers who write builder's risk insurance coverage, network with them, they know contractors or at least the good ones. An agent may not hand you his client list, so take some time in picking their brain if you can, lunch never hurts.
Best way to know your farm area is to drive it. I stopped at rehab sites, that how you get face to face with those that do.
Investors need to go on a field trip, away from your computer screen and go to your courthouse. Go to the assessors offices, collectors office, land records, clerk of court and planning and zoning. You need to know who is who, what they do and how they relate to other offices. Everything in RE passes through these offices and information is usually free, copies may cost you, but they are public records. All the real cash buyers in your area buying properties are found in the recorder's office.
Attend a planning and zoning meeting, generally you'll see developers, not really folks you'll deal with, but there are leads to be had there and knowledge to be gained. Get a feel for their attitudes on granting special use permits and zoning variances.....why? Because you can identify properties that may have zoning changes, a house in a buffer area may be converted to an office, if so, that changes the buyer. Doing some paper work and getting a variance with an owner can double the value of a property. Don't flip a possible office spot to a residential landlord, look for a commercial rehab buyer.
I don't know, there might be some app for listing qualified buyers, but I know these methods yield reliable results. :)
Present a good deal, and use craig's list. That works quite well. Good luck.
I second @James Wise , @Jeremy T. and @Mark Freeman . Find great deals, aka not something off the MLS, and buyers will come to you. Rather than just trying to build a buyers list, start connecting with people. Builders, Agents, Property Managers, Title Companies, Lenders... and provide value.
Also, put some time into the presentation of your deal, that goes a long way!
I wish you great success @Victoria Nellon
Ahhh to spend a day with @Bill Gulley Starting at 5 a.m., shaking his fist at, then banging out 1000+ word replies to people on BP naively posting about seller financing. Taking a field trip to the local assessors office, where he is cordially referred to as "sir", watching as he shakes his cane and mutters a few choice words under his breath at the new whipper-snapper in the zoning office. Then wrapping things up by settling into Perkins for a 4:15 p.m. dinner. Followed by a fireside chat, a cup of Sanka, and some butterscotch candies ;).
Get a deal that is worth buying under contract and you will be able to sell it.
In my experience when someone "can't find a buyer" it simply means the deal is not a good as they think it is for a variety of reasons.
For all cash buyers, find title search with words of custodians of RE IRAs. Why? People that use IRA money to buy use custodians.
Title Deed to the property will read "(RA custodian), FBO (Investor's IRA name) IRA."
The number of self directed IRA custodians has grown significantly over the past few years, and should continue to grow as the self directed IRA industry matures.
The following is a list of self directed IRA custodians, as well as third-party administrators (TPA), separated by size (assets under custody).
List of Large Self Directed IRA Custodians (Over $2 Billion under custody):
Equity Trust Company (acquired Sterling Trust Company)
First Trust Company of Onaga
IRA Services Trust Company
Kingdom Trust Company
Millennium Trust Company
Pensco Trust Company (acquired Lincoln Trust Company)
Provident Trust Group
Trust Company of America
List of Mid-sized Self Directed IRA Custodians ($500 Million â $2 Billion)
Advanta IRA (TPA)
GoldStar Trust Company
Midland IRA (TPA)
New Direction IRA (TPA)
Next Generation Trust Services (TPA)
NuView IRA (TPA)
Quest IRA (TPA)
Self Directed IRA Services, Inc. (Horizon Bank)
SunWest Trust Company
Vantage IRA (TPA)
List of Small Self Directed IRA Custodians (
American IRA (TPA)
Self Directed IRA Custodians of Unknown Size (have not disclosed amount under custody):
American Estate & Trust
American Pension Services (TPA)
Capital IRA (TPA)
Community National Bank
The Entrust Group (TPA)
Horizon Trust Company
IRA Club (TPA)
IRA Resources (TPA)
Nevada Trust Company
Nexus Direct IRA (TPA)
PolyComp Trust Company
Preferred Trust Company
RealTrust IRA Alternatives (TPA)
Sovereign International Pension Services (TPA)
Summit Trust Company
uDirect IRA (TPA)
Write the owner a letter.
Originally posted by @Jeremy T. :
Ahhh to spend a day with @Bill G. Starting at 5 a.m., shaking his fist at, then banging out 1000+ word replies to people on BP naively posting about seller financing. Taking a field trip to the local assessors office, where he is cordially referred to as "sir", watching as he shakes his cane and mutters a few choice words under his breath at the new whipper-snapper in the zoning office. Then wrapping things up by settling into Perkins for a 4:15 p.m. dinner. Followed by a fireside chat, a cup of Sanka, and some butterscotch candies ;).
I think you may think I'm older than I am, I'm old enough to be your daddy I'm sure, but I don't use a cane, yes, I'm called sir, I don't mutter I sound off like an Army Ranger, I don't have time for coffee at the courthouse, don't care for butterscotch and hate instant coffee.
Naively posting about seller financing? ROTFLMAO! :)
Know buyers before you shop for properties, no wholesaler buys inventory they can't move! :)
Interview the Cash Buyer - Questions to Ask
Investor Information Worksheet
Investors Name: ______________________________________________
Phone: __________________ Source: ______________________
Cell: __________________ Date: ______________
Looking To Do: [ ] Flipping [ ] Retails [ ] Lease Options [ ] Rentals
Areas Interested In: ______________________________________________________
Types Of Property Interested In:
[ ] 2 Bedroom Houses [ ] 3 Bedroom Houses [ ] Multi Units
[ ] Frame OK [ ] Brick/Block Only [ ] Other: _____________
[ ] Junkers OK [ ] Nicer Houses Only _____________________
Types Of Property Not Interested In: ________________________________________
Funds Available: [ ] Has Own Cash [ ] Has Hard Money Source
[ ] No Financing Source [ ] Other ____________________
Amount Of Cash On-Hand To Invest: $ ___________________
Thank you all for your posts.
You are one of my favorite BP posters...hence the ;) at the end.
Nothing but respect for you, kind sir :).
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