Methods im using to find investor/buyers an results
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.
Almost forgot, Found what seems to be a pretty easy way to build a buyers list. I'm sure most people in here have allready heard it. Join your local REIC, I kept hearin this but didnt pay it any mind, then after I got interested I couldnt find a local one. Well I recently found my local reic, happens to be in the next city over but pretty close. I talked to the president of the chapter and come to find out there are 20-30 rehabbers that are members, The presidents gonna give me their names and introduce me at the next meeting. Those business cards I ordered are gonna come in handy :D and so is the website I built where they can view my properties and join my buyers list. Point being theres a good chance a large number of your local cash buyers/investors are member of your local reic. Cant hurt to join and check. Just my opinion
Thanks, Larry! I think I like your strategy as well with setting a minimum fee you want to make and then selling once you get offered that. But say for example that a buyer made an offer that will net you 5k and the next day you get a call that will net you 7k, would you call the first buyer back and say that you received a higher offer? Or tell the second buyer that you already found a buyer?
Jaremy
You mentioned using an option contract for your deals. Is this a flex option or a regular option? Can you give more details or perhaps an example of your option contract.
Thanks,
Bob Burns
Jaremy
You have an awesome website. Did you build it yourself or had it built? If you had it built what service did you use?
http://www.biggerpockets.com/forums/93/topics/46258-how-to-effectively-build-a-buyers-list
Larry, try the method I described in the above thread. This will generate real buyers that move property. Good luck.
Thanks for the advice wheelhouse, I'll give your methods a shot.
Had a question, If I have the address of a property that was purchased by an investor is there a way to look up the property and find out the buyers name and #? I tried checking the tax assessor's website and also the recorder of deeds website but couldnt find any place to input a property address. Is there something in particular i should be searching under. For anyone with the time to check the site is http://www.co.guilford.nc.us/services/index.php What should I be looking for? Thanks
http://taxweb.co.guilford.nc.us/CamaPublicAccess/
click on the location address tab.
once again, thanks wheelhouse. That site gave me all the info I needed.
Great comments, all! Thanks. I am new myself and really looking forward to trying these buyer list methods.
WoW I have done the exact same thing you are doing and feel the same exact way. I am still building my list, I live in Palm Beach and there are some serious cash buyers around this way so i set up a goal of about 50-100 buyers before i do deals to kind of guarantee success. These are really good ideas.