I am curious how many people in here have seen real success finding buyers or sellers skip tracing?
I’m building my cash buyers list and am wanting to build high quality partners not just an email and a number I can put in a CSV file and blast an email too every once in awhile.
I need to vet buyers and I’ll need to skip trace to find numbers. That and I’ll be reaching out to RE Agents to get connected with investors they work with.
I would put more emphasis on finding sellers first. Usually if you have a great deal, finding the buyers is pretty easy. If you haven't already, see if you're area has a real estate investor facebook group. Don't join it the purpose to just pump out deals, but use it to connect with people in your area and learn. It doesn't cost anything other than your time so you can, which you'd be spending anyway trying to cold call cash buyers. Also while skip tracing is relatively cheap, it does add up overtime so I am always looking for a free or cheap way to connect.
When it comes to sellers, we always skip trace. It's one of the easiest ways to see if the person is an absentee owner or not, amongst other benefits.
Have you tried finding cash buyers by looking at recently sold homes by putting a filter on the lower priced properties. There should be a listing agent you can get a hold on previous cash transactions.
I bought my first duplex here in the Toledo region by cold calling. Purchase price was $180,000 and it rents for $2355.
@Evan Davis Skiptracing works, depending on the service you're using. Batch skiptracing is good.
I have always felt like it’s disingenuous to the seller to find a deal and now have some buyers you know are looking for deals. That’s why I like finding buyers first. Plus I’m worried I wouldn’t find a buyer that quickly. I wanna close fast because that seller most likely is not in a great situation and I’m trying to help them out. Have you ever been stuck with a property under contract and no buyer??
Thanks man, when it comes to cold calling lists that you’ve skip traces to you do it in bulk or one by one? I wanna make long time partners. Not just have a bunch of numbers and emails in a CSV of that makes sense. I need to vet my buyers
Awesome! How’s you find their number?
Yeah I use PropStream for that, pretty helpful tool in a couple ways at least
Originally posted by @Evan Davis :
Awesome! How’s you find their number?
@Evan Davis Vetting buyers is a long and time consuming task. Most of the time you skip them in bulk but those skip tracing tools only return a handful of contact information. You can do it one by one if you need to. I have thrown away deals because I couldn't find contact information for Cash Buyers or other buyers for that matter.
Also if you have buyers first you don't have to worry about where to market and what price point they are buying at. I've had such a terrible time with all this, that I just created my own software to solve the problem.
Hope this helps.
I get that entirely, and please keep the mindset of doing right by both sides as you continue on this journey. It's definitely a risk, but it's always a risk putting a property under contract because your buyer can also back out without warning. So if it's your first couple deals I do agree with you having an experienced buyer or 2 ready to go so you can reduce the possibility of them backing out, but after a while you'll realize who's legit and who's blowing smoke. We really don't do any cold calling for buyers. Now I am in a very lucky situation with our buyer so as long as we get what they want, we are good and haven't had to back out yet. I will say if/when I need to find a buyer, I do believe the best way to do that is through networking. Sure it's more time intensive, but if you're just starting off that is time well spent and is essentially free. Plus people will be more receptive towards the new guy or girl at meetings that shows passion vs a cold call.
When it comes to sellers, we skip trace in bulk since those lists are longer.
Sorry I don’t think I’m understanding your point. Are you pro finding buyers before sellers?
Pro skip tracing?
@Evan Davis Yes, find buyers before sellers.
Visir real estate store- 9 cents and over 90% accuracy
Sorry, not sure what you’re saying here
Often times you get better matches when you skip trace with the data provider when procuring the leads. Propstream, Batch, and OPENHOUSEit are all great choices/vendors. And even have access to cash buyers lists.
Like others said, if you have a screaming deal, people are going to find you without much effort on your side. If you're the guy who sends an awesome deal every month or 2, people are going to actually pay attention when you email them. If you're the guy who sends 3 junk deals a week, you're going straight to the junk folder.
Look up the visir real estate store on google
Okay gotcha so you were recommending a skip tracing service
The second paragraph you said is exactly what I’m thinking. Thanks