Starting Wholesaling and Need to Compile Buyer/Investor List

17 Replies

What is the best way to find investors looking to buy properties in my target area? I'm new to wholesaling and I have a couple of really motivated sellers but I'm having difficulty finding the motivated buyers/investors I need to get these deals rolling.  I currently have sellers in the Charlotte area (central and southwest areas). I'm also not looking to spend any crazy amounts of money for advertising. What's your opinion?

What are some of the things that you are doing to secure the buyers? 

What's the status of the neighborhoods - is it in decline, stagnant or rising?

Knowing your market is not just about knowing the numbers(which are very important btw) but its about knowing the neighborhoods - if its a buy and hold(mostly tenants compared to homeowners living there etc) or fix and flip - at times it can be both. The difference - a fix and flip neighborhood can secure all types of investors but a rental only neighborhood will only secure buy and hold investors. Low income landlord investors won't close on $150K+ properties. Doesn't matter if they can, they won't as its not their preference. Those investors/buyers looking for $150K & > won't bother with $40K & <. You have to be able to match the right buyer/investor with their preferred neighborhood. My coin.

Kudos,

Mary

@Jasmine Brumfield I'm a potential cash buyer for any retail flip properties. Just like @Mary B. Said above.  Send them my way.  No rentals or buy and holds. 

Another less I've I've read on BP is that if have really presented your deals to active investors and they pass then make it a learning lesson. Ask them to explain Why they passed so that you can learn what makes a deal work for that buyer. Persevere!

Originally posted by @Jasmine Brumfield :

@Mary B. Thank you for responding to me! Definitely taking your advice into consideration. Knowing the neighborhoods is a key step I think a lot of people don't think about.

 Actually, understanding your market goes to the basics of real estate. 

I see you're just starting out, I urge you to learn the basics of real estate before trying to deal in real estate, the gurus don't teach the basics, just the schemes.

I have several methods of how to buy and sell a property that meets the goal of wholesaling legally and ethically on BP as well as in other materials which are free. You also need to read mt blogs on BP as they should serve you very well starting out in real estate. 

Also, read current threads in the forums about wholesaling, you'll find that the guru methods taught can be dangerous.

After you get the basics of real estate (takes just a few days) team up with these buyers in your area and implement the safe, legal and ethical ways of closing on properties and transfer interests at or just after closing. It's not buyers who are at risk in wholesaling, it's the wholesaler, your buyers should operating in a way that doesn't leave you hanging out to dry if an issue should arise.

Learn real estate basics to be keen in '16! :)  

Originally posted by @Bill Gulley :
Originally posted by @Jasmine Brumfield:

@Mary B. Thank you for responding to me! Definitely taking your advice into consideration. Knowing the neighborhoods is a key step I think a lot of people don't think about.

 Actually, understanding your market goes to the basics of real estate. 

I see you're just starting out, I urge you to learn the basics of real estate before trying to deal in real estate, the gurus don't teach the basics, just the schemes.

I have several methods of how to buy and sell a property that meets the goal of wholesaling legally and ethically on BP as well as in other materials which are free. You also need to read mt blogs on BP as they should serve you very well starting out in real estate. 

Also, read current threads in the forums about wholesaling, you'll find that the guru methods taught can be dangerous.

After you get the basics of real estate (takes just a few days) team up with these buyers in your area and implement the safe, legal and ethical ways of closing on properties and transfer interests at or just after closing. It's not buyers who are at risk in wholesaling, it's the wholesaler, your buyers should operating in a way that doesn't leave you hanging out to dry if an issue should arise.

Learn real estate basics to be keen in '16! :)  

Care to share the link to your blog? 

Kudos,

Mary

Originally posted by @Mary B. :
Originally posted by @Bill Gulley:
Originally posted by @Jasmine Brumfield:

@Mary B. Thank you for responding to me! Definitely taking your advice into consideration. Knowing the neighborhoods is a key step I think a lot of people don't think about.

 Actually, understanding your market goes to the basics of real estate. 

I see you're just starting out, I urge you to learn the basics of real estate before trying to deal in real estate, the gurus don't teach the basics, just the schemes.

I have several methods of how to buy and sell a property that meets the goal of wholesaling legally and ethically on BP as well as in other materials which are free. You also need to read mt blogs on BP as they should serve you very well starting out in real estate. 

Also, read current threads in the forums about wholesaling, you'll find that the guru methods taught can be dangerous.

After you get the basics of real estate (takes just a few days) team up with these buyers in your area and implement the safe, legal and ethical ways of closing on properties and transfer interests at or just after closing. It's not buyers who are at risk in wholesaling, it's the wholesaler, your buyers should operating in a way that doesn't leave you hanging out to dry if an issue should arise.

Learn real estate basics to be keen in '16! :)  

Care to share the link to your blog? 

Kudos,

Mary

 Here you go Mary:

https://www.biggerpockets.com/blogs/5101-bill-gull...

@Bill Gulley Thank you for responding. Actually im not new to real estate at all. Don't know if you viewed my profile but I was an agent for Keller Williams for several years. Its just now moving to the investing field you want to make sure you learn aspects from a seasoned investor first. 

Originally posted by @Jasmine Brumfield :

@Bill Gulley Thank you for responding. Actually im not new to real estate at all. Don't know if you viewed my profile but I was an agent for Keller Williams for several years. Its just now moving to the investing field you want to make sure you learn aspects from a seasoned investor first. 

 Sorry, it's a common assumption talking about wholesaling. Generally I don't miss that often, but it takes more time to look up profiles, so in this area I usually don't. Agents usually spot things like net listings, lack of ability and intent to carry out a sale contract, good faith dealings in contracting with an owner, it's all the old basic contract law stuff many don't care to understand. I'm sure you can spot the off center stuff from the ethical and lawful. Good luck :)