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Can I please have a little help on how to grow my buyers list with for sure buyers and not beat around the bush wasting your time buyers.

Will Barnard · Answer

When you meet people here on BP, at RE investment clubs, or anywhere else, as with anything, you need to vet your buyers. To do so, ask for proof they are buyers. Have them give you addresses of previously purchased properties all cash. If they are not willing to, they are likely not real buyers OR they are but do not feel you are a real seller and will be vetting you first. If that is the case, you know right there you have a real buyer.

Michael G. · Answer

I dont think you need a deal in your pocket to build a buyers list. One runs the risk of not being able to perform if they don't have buyers in place for their deals. When I had to fatten up my buyers list I went to my favorite realtor and had them run a report of all the short-sale and REO properties in zip code xxxxx knowing full well that the buyers of these properties will probably be cash rehab investors. I took that report to the county clerks office and looked up the deeds for those properties which gave me the purchaser and their address. Some of those same purchasers had bought several properties for cash in the last 12 months. I then sent them all a form letter stating that I have come across fixer properties and to call me to discuss future fixer's I may come across. These were not tire kicker's. These were people (alot of them were listed as corporations on the deeds) who are in the game. So when they call I collect cell phone numbers, email addresses, what type of houses they like and what price range so I have all the right info when I come across a deal.

Stinson Bland · Answer

Robs advice is great and I follow the same rules. I require non-refundable money down when wholeselling to a new buyer. I have the buyers earnest money written into my assignment contract and my title office knows to deduct the funds from the HUD.

This will help you qualify a buyer but it won't help you find cash buyers.

I suggest you read through these threads to get some ideas of how to find buyers: Buyers List

Btw, the easiest way to find cash buyers is to mass market great deals that you control. I put all of my deals on the following sites: craigslist, backpage, twitter, local REIA forums, trulia, zillow, eBay, BP, etc.  I also put out bandit signs and call everyone I know... including wholesalers.  I make sure that all of my ads read CASH BUYERS ONLY -- MUST CLOSE FAST

Good luck!

Stinson Bland · Answer

I think you can learn a lot from a person by asking open-ended questions, getting them to talk, and LISTEN to their responses.  You should be able to tell if they're real based on their experiences, knowledge, and RE network.

Justin S. · Answer

If you have courthouse auctions, then go there.  They are real buyers with real cash.

Stinson Bland · Answer

I also believe it is very easy to find buyers if you're buying your deals deep!  I personally think finding good deals is much harder than finding cash buyers for good deals.  Everyone wants to buy when the discount is big enough.

Will Barnard · Answer

Some very good advice given. The only glitch could be that to execute the advice, you need to have a deal in your control first before your buyers list is built which goes against my advice of building the list first. The reason is that you could be put into a desperate situation which is not good and you also run the risk of not locating a buyer in time and thus, not performing on your purchase. If the purchase was an REO or short sale, you run the risk of destroying the relationship and being added to that bank's (seller) "black list".

That all said, if you are able to contract a deal with such great numbers, then in a market like we have today where there are more cash buyers and fewer available deals, you should not have a problem so long as the numbers are accurate.

Richard Sanford · Answer

Stinson you are awesome!

Richard Sanford · Answer

Rob I like that! Cause if they waste time and do not purchase a grand for my time. I see know says the blind man!

Rob Gillespie · Answer

Awesome question Richard! That is something all new folks struggle with. Honestly, the best way to get real players is to first use a great house at a great price for bait. Obviously you should really have this house under your control first. Next when you run your ads, capture every name, number, and email from all interested parties. This will be huge when you get your next house, you will have people lined up already before you even have to run an ad. Once they are interested, I tell them I require 1k non refundable earnest money, this is what usually separates the real buyers from the contract flippers. You can ask for proof of funds, but I never do. I tried that for a while and it was just weird for me, I like to just grab the grand and if they do not close, I am at least 1k ahead. Hope that helps! Good luck! :mrgreen:

P.S. I also require a quick closing. None of this 60 business day stuff, and my contract would be non assignable.

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