What are some of the best ways to build a solid buyers list? We are in the process of getting our direct seller marketing in motion and want to make sure we are prepared with well-qualified buyers for quick, efficient turn around of the properties as soon as they are under contract.
Contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash. This typically is investors. Then go to the assessors website and find their name and mailing address. Then use beenverified.com to get the best and latest contact info.
Hey @Ray Masciangelo Auctions are by far my favorite way of finding high quality cash buyers. There are two types of auctions that you want to attend. First, are on-site house auctions. Heres how is works. Sellers often hire a auction company, which advertises the property for sale and typically hosts maybe one open house to show off the home. Then the property goes up for sale on auction day. On auction day investors gather at the house, walk through it one more time and then the house is auctioned off to the highest bidder. Now the terms at these auctions are usually $5,000 Deposit in Cash or Certified Funds due the day of auction; balance to 10% due within 5 business days, and Close in 30 days. Everything sold “As Is, Where Is.” No warranty or guarantee is expressed or implied. All sales are final. The reason I want to go over these terms with you is because they give us insight into who the buyers are. One thing we know is that they are cash buyers because that need to have a 5k deposit, the balance or 10% within 5 business days and be able to close within 30 days. In addition to them having money they purchase property “AS IS”. This means that they have the resources and means to complete the repairs and they are experienced enough to determine rehab cost without hundreds other people being involved. The less people you need to take to your wholesale deals the better. This is your ideal buyer. The second type of auctions I want you to attend are building material auctions. These auctions sell everything you can think of related to houses. Doors, hardwood floors, titles, tools, windows, appliances, kitchen cabinets, counter tops, and much more. These auctions are filled with landlords and rehabbers. They are there purchasing materials at wholesale prices so why won’t they want to buy houses at wholesale prices. Hope this helps.
Thanks @Jose Flores I haven't been to any of the local auctions, however, definitely plan on going now. Is this how you have found most of your buyers? Have you ever purchased any properties at auction? What are the primary differences between the auctions you speak of versus the court house steps type auctions?
I have begun searching for buyers this way and it appears to be working good. Do you typically call them or mail?
@Ray Masciangelo You build a buyers list over time by doing the following on a daily basis:
2. Promoting your buyers list - (do you have a link for it so people can join? Or website?)
3. If you actually have current deals you should be promoting them and adding those buyers to the list
4. Going to local networking events and actually meet and greet with people
5. Social media outlets
etc etc etc.......It's a process that takes time unless you plan on buying crappy lists. It doesn't happen overnight, its something you work at day in and day out if your serious about this business.
Thanks David. I'm working on the web presence/buyers list site. How long have you been investing for?
@Jose Flores Thanks for the great tips! I go to the court house steps every first Tuesday of the month to network with some solid buyers, but I never thought to go to a building material auctions, genius! Im always open to learning more about finding solid buyers and great deals. Thanks again
@Account Closed thank you for sharing. What would you do if the house is bought under LLC name? beenverified.com does not help then. Do you have any experience with Property Shark?? Is it good or bad, seems faster than beenverified.com
Yes you go to your states department that registers businesses and lookup the company name. It should have the names and addresses of the principals.
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