Austin, TX · Member since 2017 · 27 posts · 5 votes
Hi, As I am starting my marketing campaign and hopefully will have some leads in a near future I am wondering if I should set up a website for investors as well? Where they can insert their infos such as email... Thank you for your Help BP community.
Real Estate Investor · Buffalo, NY · Member since 2013 · 227 posts · 318 votes
9y
Hey @William Boyce what I think you are asking is how to develop a quality cash buyers list. And my advice is if you want to see whales, you go to the ocean. For me the ocean is auctions. 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.
Real Estate Investor · Buffalo, NY · Member since 2013 · 227 posts · 318 votes
9y
Hey @William Boyce what I think you are asking is how to develop a quality cash buyers list. And my advice is if you want to see whales, you go to the ocean. For me the ocean is auctions. 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.
Real Estate Investor/Wholesaler · Philadelphia, PA · Member since 2015 · 757 posts · 318 votes
9y
You dont need a "website" for investors.....open up a FREE mailchimp account which will allow you to set up a link so that people can join your "buyers list".........if your not already in the process of collecting emails then your missing the boat. You need a solid buyers list if you plan on being able to sell inventory.
Austin, TX · Member since 2017 · 27 posts · 5 votes
9y
Thank you @Jose Flores for the awesome tips! I will make sure to do both thing you told me to! Thank you as well to you @David Bokman, I have only collected emails from local meet up but you are right it is not enough!
You dont have to have a website to gain cash buyers. I agree wholeheartedly with @Jose Flores about attending auctions for buyers as well as with @David Bokman about using a site like mailchimp. I believe its FREE