Deal first or cash buyer's list first?

Question

If I get a deal first I can advertise it and if it's good, I think cash buyers will find me.

If I get the cash buyer's list first, I have a bigger safety net in terms of time before closing to sell it off.

Would you guys focus on the deal first or build the list first? What drives your choice?

Jonathan Greene · Answer

Why would someone, especially a cash buyer, go on your list if you have no deals and have never gotten any deals? And note, if someone is psyched to get on your list when you have no track record, I wouldn't count on them being that cash buyer you hoped for. Always work deals and relationships and lists at the same time. You don't need to do one or the other first, you are learning the business as you go and pressing the buttons that pop up first.

Peter Mckernan · Answer

@Sean D the biggest item would be getting a deal in your hands first and then you can grab a buyer for it. As for your business model as a wholesaler, I would build a buyer's list at the same time because you want to be able to perform on both ends of the deal to keep a good reputation.

Brian G. · Answer

@Sean D deal is most important. Finding a cash buyer for a deal is easy. Deals are hard to find and there is plenty of cash on the lookout.

Dan Maciejewski · Answer

You will meet buyers. Your job is to get listings (motivated sellers). There are cash buyers all over that will buy a great deal.

What you want to do as you meet buyers is find out what they are looking for. Then you will know if it's a deal in your market. If all the buyers in your market expect a $40k spread, then you will know that's your target.

Samuel McCart · Answer

I agree with Jonathan. It's tough for buyers to want to build a relationship with you if you haven't shown you can benefit their business.

Deal first or cash buyer's list first?

Deal first or cash buyer's list first?

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