Where to start building a buyers list for new wholesaler?

[Nicholas Monroe]

Hey y'all! I found BP in the beginning of this year and have been doing a lot of research on the different types of ways I can get started in real estate. The ultimate end goal is to own rental properties and create passive income, but I'd like to first master wholesaling. A lot of what I read says you should start with building the buyers list. With that being said, I'm looking for any advice on the best ways to build that list, especially with most meet-ups being shut down due to the pandemic?

Thanks!,

Nick

[Christopher Parsons]

@Nicholas Monroe first off, awesome way to start out with real estate investing. As for building a buyers list, what I'd recommend is hunt down all the flippers in your area. Look up "We buy homes cash [your city]" and phrases like that and you'll find a mix of flippers and wholesalers. Call them and have a conversation and figure out if what you're looking to provide will be a good fit for them. Make an excel sheet and gather information similar to:

Where do you like to buy/where do you avoid?

What is the price range you're usually looking for?

Do you normally look for standard rehab, or do you look for build out potentials too?

What type of house do you usually go for (2 bed, 1 bath)?

How many square feet do you like to work with?

How many projects do they do in a year?

Best way to contact them?

If you're able to do that, then you'll have a pretty solid start for a buyers list and will be able to provide better targeted properties. Some of these flippers are on wholesaler's lists and just get bombarded with tons of deals that don't meet their criteria. But, if you can be the wholesaler that only sends deals that meet your criteria, you'll build a much better relationship with your buyers and have a bit more success.

Another way to find buyers is on Facebook. A lot of areas have investor groups for the bigger cities or states. I'm on one for Washington State and I see wholesalers post their deals there all the time. Those are usually great places where if you join, you can introduce yourself, mention you're new to wholesaling and would like to get in contact with buyers to see what they're looking for. People will usually comment with their email address, then all you need to do is email them with those questions and if they respond, add them to your list.

Hope all this helps, happy hunting!