Hey guys, I am new to REI game in the DFW area. Does anyone have any advice for building a list and maybe how to explain to a potential buyer what I do?
Investor · New Orleans, LA · Member since 2014 · 73 posts · 29 votes
7y
The simple answer is 'find a deal and buyers will come to you'. :)
Network, go to local investor meeting, reach out to people on Bigger Pockets and MARKET yourself as a reputable business that can find off market deals.
Investor · New Orleans, LA · Member since 2014 · 73 posts · 29 votes
7y
The simple answer is 'find a deal and buyers will come to you'. :)
Network, go to local investor meeting, reach out to people on Bigger Pockets and MARKET yourself as a reputable business that can find off market deals.
Real Estate Investor and Business Coach · Houston, TX · Member since 2016 · 107 posts · 77 votes
7y
@Lorenzo McKinney What is it that you do? The answer to that is where you should start. If it feels uncomfortable practice it. It may sound rudimentary but role play works wonders. If you don't feel comfortable telling someone you're a wholesaler, rehabber, etc. they can sense that. And if that's the case and mindset of service towards the buyer would drastically help. As for the syntax, PM me if you want to talk through it. Everyone's approach is different.
I agree with @Ron Collins, local meetups and BP are great resources to find buyers.
re: how to explain to a potential buyer what I do? - hopefully your buyers know what you do. If not, I wouldn't waste time explaining it to them, find buyers that know what a wholesaler is and are actively buying deals off of them.
Investor · Austin, TX · Member since 2018 · 27 posts · 59 votes
7y
@Lorenzo McKinney
Go to meetups, put out some signs saying you have investment properties. To explain what you do just say “ I come across great off market deals that are profitable and a lot of the times I am looking to wholesale deals/ assign them. So if you are interested in discounted deals that you can rehab and make good money on I will keep you in my contacts and give you a call when I find a good deal for you to buy”
Specialist · Grand Rapids and Kalamazoo, MI · Member since 2013 · 392 posts · 116 votes
7y
@Lorenzo McKinney - I will echo what @Grant Rothenburger and @Ron Collins said... local meetups are great. People like to work with people they have interacted with personally. So find your local groups, and go EVERY time. This builds consistency, and will allow you to systematically add to your buyers list while getting more comfortable with the industry.
Most people in the industry know what wholesalers do. However, you can just keep it simple: "I like to find off-market deals at great prices, and then offer them to investors. What kinds of properties are you looking for?" There's no magic... just human interaction!
Investor · Austin TX · Member since 2016 · 1k+ posts · 2k+ votes
7y
@Lorenzo McKinney I am in your market, there are tons of awesome REIAs that have great topics and great networking opportunities. Best way by far to build a buyers list is to go to the foreclosure auction on the first Tuesday of every month. Every single person that is there buying or bidding on properties is a cash buyer and you should be talking with them and getting their contact info and buying criteria. PM me if you have more questions!