Advice for finding buyers for wholesale deals?

22 Replies

Best way to find buyers is to have properties they want to buy, but you can also look up lists of cash purchases in the last x days, also depending on your market you can get in touch with the institutional buyers.

Originally posted by @Ben Anderson :

Should I be reaching out to realtors to ask if they know of investors or buyers that flip houses? Thanks for any feedback.

No, involving a realtor to bring you a buyer will require that realtor to be paid. How much spread do you think you will have in a wholesale deal? You are already acting as a middle man between buyer and seller (you should make sure you follow the laws regarding this too) so having another person in the Middle East the spread away. Find your own buyers. Finding cash buyers is the easiest part of the job, check title records of all cash closed deals closed in the name of an entity and with multiple closing per year. That is a true cash buyer with verifiable history.

 

Originally posted by @Daniel Mendez :

@Will Barnard

How would you pull such list? Through the MLS?

Title rep or any real estate agent with MLS access can run a search for you for all cash closed transactions and then you just go through them looking for entity names and names that repeat on the list in your area.

Finding the deals is really the tough part and typically, it takes some form of direct marketing, or public marketing plus internet advertising to bring in leads. Door knocking is also a good way to go (at least it is in my area - CA). 

@Ben Anderson as @Will Barnard stated contact a title company and let them know what list you are looking for and the title co. marketing department should be able to provide that for you. This is one way I tell people to build their list. Actually it would be good to schedule a meeting with the title agent that way you can build rapport with a title rep (if you don't have one) and meet the marketing department. Many people purchase list but the title company if its a good one will be able to provide you list for free.

Wasting your time with realtors they are useless in this scenario . Flood the block with 20-30 handwritten 18x24 bandit signs !

Help !!Must sell

Nice 3/1 house !!

Priced 30k under value

1800 xxx-xxxx

Title companies - ask for cash buyers.. some will give to you, some won't. Pull cash buyers from Propstream ... post in Facebook groups that you are looking for cash buyers... when you lock up a contract, post in facebook and save information of people that are interested. If you have a deal, it should sell!

Originally posted by @Will Barnard :
Originally posted by @Daniel Mendez:

@Will Barnard

How would you pull such list? Through the MLS?

Title rep or any real estate agent with MLS access can run a search for you for all cash closed transactions and then you just go through them looking for entity names and names that repeat on the list in your area.

Finding the deals is really the tough part and typically, it takes some form of direct marketing, or public marketing plus internet advertising to bring in leads. Door knocking is also a good way to go (at least it is in my area - CA). 

 And once i get those names of those entities and/or repeated names. Do I just call them and see if they want to be added to my buyers list?

Ultimately YOU are the buyer if you represent yourself as such. Signing contracts with no ability or intention to close is FRAUD.

Originally posted by @Dennis M. :

Wasting your time with realtors they are useless in this scenario . Flood the block with 20-30 handwritten 18x24 bandit signs !

Help !!Must sell

Nice 3/1 house !!

Priced 30k under value

1800 xxx-xxxx

Maybe the realtors you have come into contact with are useless for this info but that does not mean that ALL realtors are useless for this. That is a bold and incorrect statement as you cant possibly know all realtors or have dealt with them all in this manner. Our access to MLS from being licensed allows us to pull this data straight from the MLS which has been very useful. I don't use that info for wholesaling but I certainly could be used for it.

As to the other advice here, we have gone down this road before and again I will state this is bad advice. Most municipalities have laws against bandit signs and suggesting or advising others to break the law to make money is irresponsible. Not to mention your ad suggestion is BS because you don't really have a deal, you are using this text to find buyers which could otherwise have been found much faster, much easier and legally via my direction.

Originally posted by @Daniel Mendez :
Originally posted by @Will Barnard:
Originally posted by @Daniel Mendez:

@Will Barnard

How would you pull such list? Through the MLS?

Title rep or any real estate agent with MLS access can run a search for you for all cash closed transactions and then you just go through them looking for entity names and names that repeat on the list in your area.

Finding the deals is really the tough part and typically, it takes some form of direct marketing, or public marketing plus internet advertising to bring in leads. Door knocking is also a good way to go (at least it is in my area - CA). 

 And once i get those names of those entities and/or repeated names. Do I just call them and see if they want to be added to my buyers list?

 Once you have a list of entity names of repeat cash transactions closed, most of them should have a website, address, or phone number off the internet, the entity records from the state (statements of information filed with the state) and you can then contact them by mail for addresses you located, email, through their website, or by phone. Use any or all avenues available with the info in hand.

Originally posted by @Will Barnard :
Originally posted by @Dennis M.:

Wasting your time with realtors they are useless in this scenario . Flood the block with 20-30 handwritten 18x24 bandit signs !

Help !!Must sell

Nice 3/1 house !!

Priced 30k under value

1800 xxx-xxxx

Maybe the realtors you have come into contact with are useless for this info but that does not mean that ALL realtors are useless for this. That is a bold and incorrect statement as you cant possibly know all realtors or have dealt with them all in this manner. Our access to MLS from being licensed allows us to pull this data straight from the MLS which has been very useful. I don't use that info for wholesaling but I certainly could be used for it.

As to the other advice here, we have gone down this road before and again I will state this is bad advice. Most municipalities have laws against bandit signs and suggesting or advising others to break the law to make money is irresponsible. Not to mention your ad suggestion is BS because you don't really have a deal, you are using this text to find buyers which could otherwise have been found much faster, much easier and legally via my direction.


I said they are useless * in this scenario * I did not say all realtors are useless . You are putting words in my mouth Will and that is unprofessional of you as a moderator in my opinion . 

 

Originally posted by @Dennis M. :
Originally posted by @Will Barnard:
Originally posted by @Dennis M.:

Wasting your time with realtors they are useless in this scenario . Flood the block with 20-30 handwritten 18x24 bandit signs !

Help !!Must sell

Nice 3/1 house !!

Priced 30k under value

1800 xxx-xxxx

Maybe the realtors you have come into contact with are useless for this info but that does not mean that ALL realtors are useless for this. That is a bold and incorrect statement as you cant possibly know all realtors or have dealt with them all in this manner. Our access to MLS from being licensed allows us to pull this data straight from the MLS which has been very useful. I don't use that info for wholesaling but I certainly could be used for it.

As to the other advice here, we have gone down this road before and again I will state this is bad advice. Most municipalities have laws against bandit signs and suggesting or advising others to break the law to make money is irresponsible. Not to mention your ad suggestion is BS because you don't really have a deal, you are using this text to find buyers which could otherwise have been found much faster, much easier and legally via my direction.

I said they are useless * in this scenario * I did not say all realtors are useless . You are putting words in my mouth Will and that is unprofessional of you as a moderator in my opinion . 

 

Read it carefully Dennis, you said realtors are useless in this *scenario* and I disagreed stating, no all realtors are NOT useless IN THIS SCENARIO by stating:

Maybe the realtors you have come into contact with are useless for this info but that does not mean that ALL realtors are useless for this.

I did not put words in your mouth, you are misunderstanding my response so before you accuse me of being unprofessional, make sure you have a clear understanding before making misinformed attacks on my character, there are several hundred thousand members here that will disagree with you on that comment.

 

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