First property under contract need cash buyers. What do I do?

Question

I have my first property under contract now I need cash buyers fast. I've seen people say once you get the property you should be able to sell it better. Any advice?

Nick G. · Answer

Congrats Javon Rice

Can I ask how you located this property?

Joshua D. · Answer

Javon Rice - Do keep in mind that bandit signs are likely illegal in your area, and posting them could result in fines. This article provides some good perspective: Bandit Signs: The Ugly Way to Advertise Your Real Estate Business

Mike Barron · Answer

Bandit Signs! We use bandit signs to market our properties and we receive 40-50 calls within the first couple of days. You have to filter out a lot BS, but it works. We also post our properties on Craigslist, but very rarely get any serious buyers from there.

Greg Vander Wel · Answer

Also consider offering it to other local wholesalers for marketing.  We have found a lot of success by working with competitors.

Kyle J. · Answer

If it were me and I didn't already have a buyer's list, I'd take it to one of my local REIA meetings to present to other investors. My local REIA's are usually well-attended by investors hungry for properties, so if the property was really a good deal I'm sure I'd have quite a bit of interest before I even left the meeting.

There's also plenty already written on BP about this very topic. Here's a thread to get you started:

http://www.biggerpockets.com/forums/93/topics/54108-buyer-s-list-how-to-

Joshua D. · Answer

Congrats on getting your property under contract.  If you don't have buyers already,  you want to start promoting the deal.  If it is a good deal, posting it in our Marketplace is a start.  I'd also post it on Craigslist and would make sure other local investors know about it.  You've got to start networking and getting to know the rehabbers and other investors in your area -- they are always going to be your first place to turn . . .

I hope that helps.

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