All Forum Posts by: Aaron Wyssmann

That's a great question and not too hard to find…at least in most cases.  The question I would ask you first is do you have a good deal?  There are debates on this all the time but I truly believe that if you have a good enough deal it won't be any problem finding a buyer.

That being said here are a couple ways to find some cash buyers.

1) Look on Craigslist but not only for those that say they buy houses for cash but also look through the "For Rent" area.  If they are posting there then obviously they are a landlord and would probably love to be able to buy a great deal.

2)  County office may be able to pull a list for you of say the last 6 months of people who have paid all cash.

3) Use one of the list websites like ListSource.com or MelissaData.com and I believe you can pull a list for cash buyers in your zip codes.  Send letters to them or track them down and start a conversation with them. (I heard this on one of the BP podcasts quite a while ago and thought it was a super great idea.  He had found several great buyers to work with).

Hope that gets you started.  Go find a great deal first.

Kevin,

Great to meet you, at least virtually and maybe someday in person.  BP is a great place to get started down the road to learning about RE investing.  There's tons of great information and some top notch folks out here.  

I do know that it doesn't have anything to do with an appraisal on the front end. I just did one one these and I used a private money guy on the front end who didn't have an appraisal. I did have wait the full 6 months to do the cash out refinance on the secondary market. What I've been told is that it is place to slow down those who are flipping but honestly in dont really know. 

Justin, this is a great question. Here are a couple ways that you could add value.

1)  Operations/Project Management:  I've found that most guys that are like your friend are awesome at starting things but not too great at completing them.  You could be the guy that comes in and makes sure that projects make it all the way through the process…whatever that might be.

2)  Knowledge:  Maybe you are great at analyzing a property and making sure that it is a good deal.

3) Finder: You could be the guy going out and finding properties.

Be creative and look at what skills you are good at.

Welcome to BP Jason.  Looks like you've got some great experience that will definitely help some folks out.  Look forward to getting to know you.

 This is exactly correct, well said Fred. 

@Charlie Fitzgerald I like your thought process. That's definitely a different way of looking at it. The only thing that I differ on a bit is that if I'm using private money that my risk is less. When I borrow money in my own mind I consider it even more valuable than my own money. I will absolutely make sure that they are paid back plus their interest. 

Maybe I have misinterpreted what you wrote but I feel very strongly about it. My investors come first. 

Dean,

That sounds like a great plan. By using your cash on the front end to handle any rehab you have it allows you to get the ARV higher for when you want to get some permanent financing, which in our market with the rates you can lock in at for 15-30 years, is a good deal.

I am personally doing this same strategy except that I use a private lender for the initial buy and rehab and refinance him out of the property.

Like the strategy.

You will of course need to check the laws out in your state but here in MO you only have to have a real estate license if you are managing a property for another individual and are being compensated for that service.

So in the case that you are talking about where they would be your employee and they would simply be managing just your properties, that would not be a problem…at least not in MO.

Daniel,

That sounds like an interesting concept.  The conversations that are typically had in the beginning are getting to know the client.  Who they are, why they are selling, how much they think the property is worth, what are the hoping to ultimately sell the property for, etc. Just that really basic information about how we can best help them.

Hope that helps.