Cash Buyers or Motivated Sellers?

Question

The axiom, if the deal is good enough the buyers will find you, sounds great and is super motivational but deals are not sold in an empty room. What has been your focus, buyers or sellers? What sort of systems have you created to build a balanced Wholesale Business?

Sarah Cox · Answer

I am doing a coaching program at the moment, and am being encouraged to seek out cash buyers first, and then look for properties that meet their needs.  It seems like a nice theory, but I'm finding it leads to some awkward conversations.  When talking with a buyer, they will always ask "what do you have for sale" or they ask me to send through what I have.... I'm then stuck trying to respond... how to explain that I don't have anything and that I'm just trying to find out what they want so I can go find it for them... without sounding like an idiot?!

Interested to hear everyone's thoughts on this!

Tim Shin · Answer

There are rarely empty rooms if you find REIAs or meetups. Someone always wants to buy something. The trick is finding the deal. My experience has been focus on the sellers and worry about buyers later. If you've got a good option period that lets you out for little to no money, what's the big deal if you fail? The seller gets to get out and you can help them again or find someone else.

If it's a good deal, you show it off at a meeting or at on BP, there will be someone who will want it.