I am a wholesaler in Richmond, Virginia, and I am always looking to expand my list of cash buyers. I struck up a conversation with a local buyer who told me to go to the courthouse and check the tax records to find out who is buying. I should have asked him these questions when we were speaking, and I will surely call him tomorrow and ask him, but I would like to get you guys' opinions as well. So here are my questions:
Would I be able to see a list of recent cash transactions at the courthouse, or would I just be looking for the LLC's/people who own the most properties?
Also, which part of the courthouse do I go to for this info?
Lastly, have any of you tried this strategy for finding buyers, and if so, how has it worked out?
that seems like a lot of work. Finding cash buyers should be easy. Finding deals cash buyers want to buy is the hard part. I buy houses in cash and would be happy to look at any deals you have. The reia meetings are full of cash buyers. I think we have 8 homevestors franchise around here now those are all cash buyers, also wholesalers I realize but there are a lot of buyers in richmond right now.
There are a few different way of find cash buyers but don't ignore buyers that finance properties. You should be looking for all buyers of investment properties.
3 Fairly Simple Ways
1. MLS - Pull a list of all buyers that bought pre foreclousres, reo, short sales or any type of distress properties. This fairly easy to do. In our MLS you can only get a list in PDF but a fairly easy macro program can feed it to an Excel list and remove the duplicates.
2. You can buy a list of cash buyers as well.
3. Tax records: Search for all sales at your county and sort out cash buyers or ones that used private loans or other rehab loans. Depending on how much data is available in your county this can be pulled from the tax records automatically as well. You need someone to write a bit of code for you.
Here in the Chicago area we are able to do so fairly easily by zip code. We pull all distressed sale buyers and cash buyers for the last 24 months.
Andrew Holmes, Chicago REIA | 847‑303‑5011 | http://chicagocashflow.com
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