Real Estate Wholesaling Questions & Answers

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Larry Lee
  • Real Estate Investor
  • high point, NC
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59
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Methods im using to find investor/buyers an results

Larry Lee
  • Real Estate Investor
  • high point, NC
Posted Feb 13 2010, 13:32

To begin with. I've decided to build my investor/buyer list first, then get their criteria and focus on finding specifically what my buyers want. Even tho i've began the below marketing methods I have no idea how to actually set up a deal or follow thru with the individuals that respond. I figure its better to get started with the little knowledge I've learned here than to keep putting it off. Any advice would be great, I need to find an inexpensive ebook or course on the step by step process of finding deals. Anyway here's my list. :cool:

#1, craigslist.org ad [LINK REMOVED] (this is a real home that i've come across and a potential deal. My uncle owns it and he's willing to let it go for 75,000 and i've listed it for 90k just to see if i'd get any bites, I also specifically asked for cash buyers in the ad so i'd assume the responses will be from investors) I placed this ad on february 12th, todays february 13th and so far Ive received 13 responses, I'll update after 7 days.

#2, Local NewsPaper ad. The ad I placed in the paper is similar to the craigslist ad above. I got the sat. and sun. ad for $55. At the present its sat. night and Ive gotten 7 phone calls about the Ad.

#3, I tried section8.com which i learned about here but it web address wouldnt work. I did a bit of research and tried [LINK REMOVED] and that gave me a site where i was able to find landlords and contact them. I attempted this but in my area there were only 2 houses listed. Is there another official site for section 8 that im missing? The plan of course is to contact the landlors and see if their interested in purchasing more properties similar to those they allready have.

#4, Use realtor and find cash buyers, I contacted a realtor, told him i was interested in finding the properties that sold for cash in the last 30 days. My reason was that Id like to find out where the investors are buying. My actual goal is to drive by the properties, get the investors # from the for rent sign or contractors and contact him/her and learn his criteria and add him to my buyers list. I've started this, I live in a small town so my 30 day list only included 4 properties. the agent then went back 90 days which produced 39 properties, much better. He also did the same for the next city but for 30 days back, this city is larger and produced 38 properties. I have yet to actually drive by any of the properties tho. cash trouble. I'll update how well this works after i actually go.

#5, call all the i buy house signs i come across, I got this idea from this site, instead i decided to do a google search for north carolina i buy houses and that brought up lots of companies. I havent done this yet but I plan on making a list then calling them and getting their criteria and adding them to my list.

#6 Place bandit signs stating, rental house for sale and investor special 3 bed 2 bath, I got this idea off this site as well. havent done this one yet either. I plan to go to home depot and buy the signs and just write the info and then go place them. I know there are companies that can do professoinal printings but my goal is to spend the least amount of money to build my buyers list. After I put some signs out ill update and let you know how they do.

#7 Free list of 30 foreclosed/distressed homes ad in paper and craigslist. I got this idea from this site as well. Basically place the ad, investors see it, call in and leave their contact info. I call them back and ask for their criteria, get their email info and send out the list. I could also set up a website and make it so they have to input their criteria for buying a property and their email addy, then they submit and the list is automatically sent to their email address. My realtor gave me access to the mls and i've been snooping around on there, I can easily just do a search for foreclosure or short sale and get a list of properties to give out.

#8, Lastly [LINK REMOVED]m, This site looks pretty promising. The original site for this software is [LINK REMOVED] and it costs 2k but if you order from reicashbuyers.com you get the same product for $997. I plan on buying this software as it gives you the address and name of cash buyers in any area you choose to search in. There's of course a system that comes with the software that shows you how to contact these investors and what to say to get them calling you. I'll wait till i've done my first deal before I purchase this tho.

Well thats my list. Any comments or advice let me know, I'll update as I see the progress. The reason im listing my steps is to give myself a sense of accountability. For whatever reason its been hard for me to get started even when I have the plans clearly laid out. There's allways an excuse, I'm hoping being accountable to a group of my peers will give me enough motivation to push forward.
I plan on using [LINK REMOVED] websites. Best deal in my opinion. and I'll be using [LINK REMOVED] m for all of my funding needs, they seem to be the best bet in my opinion. check their site and you'll see the difference. Well thats all folks, leave me your comments good or bad.

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