Ok, so I quit the cube July 31st, and then the kids were getting ready to go back to school in two weeks, so my wife wanted me to wait to get started investing (wholesaling), so I put it off until they went back to school. Then my inlaws came into town so she wanted me to spend some time with them, so I just really got started in wholesaling about 3 weeks ago.
I did some driving for dollars and used the Deal Machine App (which I love) and ended up getting around 75 properties in the Wichita area on the app, and then started doing postcards off the app. Then last week I had a lady contact me from the postcard, and she didn't want to sell her current house but had a couple of others. To make a long story short, she had 3 houses she wanted to sell. Tonight I went over and got them under contract, and I'm taking the EM to title on Monday.
I know I can do facebook, and craigslist, but really what is the best way to market these properties to cash buyers? I've googled and found a few out there, and I knew a few wholesalers/flippers in the WIchita area, but I feel like I need more. Do you guys do a preview of the properties for buyers to come and look at them? If so, how long do you make it? Do you take bids for the assignment at that time?
This is my first time on this side of the negotiation. Any help would be appreciated.
@Eric Goodman congrats man, that’s awesome!! Getting your deals sold for top dollar is the other half of the equation, sometimes the harder half. Several of us wholesalers in town have received letters from KREC asking a lot of questions and issuing cease and desist orders. The “marketing” of a property is what is the issue, be careful. A small well qualified group of investor buyers is huge. Call me Monday and I’ll see if we can help.
Best way to find cash buyers is networking at local REI meetups, masterminds, Facebook groups,
Realtors, title companies, closing attorneys, property management companies, auctions, Craigslist.
You can search real estate transactions in your tax database. Look for entities and individuals that have bought multiple properties. You may need to search by the address of the buyer as they may change their name or the name of the entity on each purchase.
You can also buy lists from companies like list source and subscribe to software that will show cash buyers
@Eric Goodman it does take a while to build up an investor list. Its all about relationship building. Every week I used to go to real estate investing seminars. They I would get to know everybody and collect business cards.
If you see any we buy houses marketing give them a call and find out who they are. Add those people to your investor list. You can find these on bandit signs, letters you get in the mail from investors, craigslist, googling. You can also find fixed up homes on realtor.com and then look the investor up on public record. Biggerpockets of course is a great resource to find local investors.
Add your investors to your wholesale list. When you have a good deal send them an email. You can use constant contact, mailchimp or your crm to let them know of your deal. Brand yourself so that people know who you are and they look forward to seeing your emails with your next deal.
Congrats! I just sent you message about investing in Wichita. Would love to chat!