Wholesaling Real Estate: Finding Cash Buyers?

Question

Hello everyone,

I'm sure this question has had a lot of investors puzzled at one time or another. I can certainly tell you that it has me scratching my head, leaving a giant question mark hovering over me jeje. It's the million dollar question that i'm sure most investors had when they first starting wholesaling ...

How do you go about finding Cash buyers? I could really use some advise

-Thanks in advance :)

Manny Cirino · Answer

This was a tough concept to swallow when I first started. The Idea that someone actually has $100,000 lying around in there bank account while mines is negative and that they would actually want to take that money and buy something that I have. As I got deals and marketed them I was suprised of how many people had access to cash. Here is what I can tell you, find the deal and market it throught the buyers will appear out of no wear and that is how you build a list of cash buyers. From those who respond and make offers on your deals.

The first deal I marketed I got 5 offers and one of the lowest I denied was from an older investor who turned around and asked me,"since you don't want my money and you have the deal what would you do with it if I give you the money?" this was very unexpected and I gained a private lender from it.(I wish I still had his info it was on an offer he faxed to me that I through away)

Zaid R. · Answer

Rick,

Check out this great post by Steve Babiak The Essential Guide on How To Build and Promote Your Buyer's List

You can always post an ad on craigslist 'Looking for cash buyers', also networking with other wholesalers and at your REI club is another great way to find buyers

Good luck

Rick Gonzalez · Answer

Zaid R.

Thank you i appreciate your reply... i'll be sure to follow with that link, thanks for the advice

@Manny Cirino

It is an interesting concept knowing that their are people out there with an abundance of money ready to invest. Thanks manny, great advise.