What is the best way to build a buyers list before you actually have a property?
i may have a home under contract soon and i'd to know how to effectively get buyers for this property. I.e build a buyers list!
God I feel stupid asking this question because I know somewhere deep my brain is the answer. I just can't find it right now.
What's the alternative to being a trustee state? That's if your state uses a deed instead of a mortgage right?
Thank you in advance for any feedback.
Kim
Originally posted by Kim Hawkinson:
...What's the alternative to being a trustee state? That's if your state uses a deed instead of a mortgage right?
...
Deed of Trust (sometimes just referred to as DOT) vs Mortgage; non-judicial foreclosure vs judicial foreclosure, respectively.
Thanks Joshua for the link to the correct place in the forums to find investors who are actively looking for properties with huge CASH FLOW.
I use bandit signs and direct mail to absentee owners.
Originally posted by Greg G.:
If you start by lying to build your buyers list, where's it end? Not a great way to build a business that'll last, imo.Greg
Greg, this is an awesome post... This is true integrity. You can do it without lying can't you?!
Originally posted by Matthew Green:
i may have a home under contract soon and i'd to know how to effectively get buyers for this property. I.e build a buyers list!
The best to catch a fish without a worm is to get a worm! The key word in your statement above is 'may' which indicates to me you currently don't have a property under contract and will be wasting a lot of people's time with a non-existent deal. Get a property under contract and the buyers with cash in hand ready to close will come at you from every direction.
Hi, Great question. When I first stared wholesaling 10 years ago this was my number 1 question. Where do I find buyers? A guru I studied with suggested placing "fake property ads" as others have suggested-it did work but was not my first choice. I no longer am wholesaling myself but
I wrote this recently for my facebook page.
Top 5 places to Find Cash Buyers for Real estate Deals.
(Hint: you will have to get off the chair)
As Real Estate wholesalers know the fear of finding cash buyers can stop you from signing a contract on a great deal. Don't worry, the cash buyers are out there. I know because I get emails daily wondering if I know of any more deals. I would highly suggest getting an option contract on any great deal you find. That way you are under no obligation to buy but you can still control the property and sell the option when you find a buyer.
1. Marketing. Ok, I will be biased here but buyers are visiting our site weekly looking for deals. So post any wholesale or investment properties you find on [REMOVED]. You will see a new look coming soon.
Share that link on Linked In and your local Craigslist site. It's easy because you only post once and then just link the listing and work directly with any potential buyers.
2. Visit Real estate auctions in your area. You will see auctions posted for local sales in the newspaper or visit auction.com. I suggest you advertise yourself-wear a name tag or even better have a t-shirt made (be creative and have a clear message that you are the #1 wholesaler and they need you) that lets buyers know you are the person they need to talk to if they want deals in your area.
3. Drive around your area and look for homes being rehabbed or offered for rent. Find out who the owner is and if it is an investor, you have found the real deal. Leave your card, get the investors name and information then contact them and find out what the buyers needs are.
4. Visit the sheriff's foreclosure sales in your area. The buyers here usually have serious cash and will look at any deals you have. This would be a great assignment fee opportunity.
5. Bandit signs. Make sure to check your target areas code regarding bandit signs. If they are allowed or you see other investors using the signs then this could be a great way to find buyers. "Cheap Fixer upper Homes" Cash buyers only. Make your contact information clear.
With any marketing for cash buyers make sure you have a plan and a list of questions to focus on what your buyers want to buy. If you are going to be a successful wholesaler you need to focus on what the true buyers WANT and WHERE they buy. Focus all your efforts in those areas. If you do this you will have buyers looking for you.
Go to your local REIA and network. Find out who the real players are. You can also network online through LinkedIn, Meetup and of course...BP.
Most of my buyers come from the local REIA. I've met them all face-to-face and I know they are serious buyers who are currently looking for property in my local market. Most of the time I didn't even have to go looking - if you show up to meetings quite often these people will make themselves and their requirements well known.
Josh,
Your link to the "Promote Your Buyer's List Forum" says "Page Not Found"