Last week I put a property under contract with the intent of wholesaling it to one of the investors on my buyers list. Unfortunately, the guy I had in mind for the property ended up passing on the deal, and so did everyone else on my list.
I started to sweat a little bit, but knew that I had a good deal on my hands and just needed to do some Ninja marketing to find an end buyer. My goal was to get the property sold within 7 days, which I ended up doing. Following was the marketing strategy that I implemented, which resulted in a signed contract as of yesterday which will put a quick 4k in my pocket.
Signs Around the Property: Signs are my #1 source of leads for buyers, so I immediately placed handwritten signs in the neighborhood where the property was located. I put the signs out early Saturday morning, and my phone rang off the hook all day. (Note: Code enforcement in your city may prohibit you from placing signs in certain areas, so be sure to check with them first to find out what the rules are).
Contact Landlords in the area: While I was driving around Saturday morning, I jotted down the phone numbers from every single For Rent sign that I saw in the neighborhood, then once I returned home, I called the landlords and asked them if they were looking to pick up any more rentals in the area. I also did some research on my county’s Section 8 website to see which landlords had properties for rent in the zip code where my deal was located, and then contacted all of them as well.
Online Research: By searching through the Property Appraiser website for my county, it is easy to find out who the active investors are in any given neighborhood. I look for private investors or LLCs who own more than one property in the area where my house is located, as there is a good chance that they might be interested in buying another.
When I did my search, I found ten investors who owned multiple properties in the area. I then did some internet detective work (thank you, Lord Google!), and was able to get phone numbers for 6 out of the ten investors! I contacted all 6 of them and sent out letters to the remaining 4.
Not only did I get the property under contract shortly after I put these strategies to work (the buyer came as a result of one of my signs, btw), but I was also able to add several more investors to my buyers list as a result of my efforts.
This isn’t the first time I’ve used these strategies to find buyers for my wholesale deals, and it definitely won’t be the last. Give them a shot next time you need a buyer for one of your deals- you won’t be disappointed!
Photo: Salvatore Vuono