If you do your numbers right and buy the deal at the right price, there is no problem finding a buyer and you don’t need to know this information. Just run an ad in the paper and investors will contact you.
If you want to build investor list to narrow down your target market, then just ask them what do they buy and what type of deals they want from you.
You could also go to your local Real Estate Investors Club meeting & either announce that you’re a wholesaler looking for buyers or maybe you could pass out a flyer saying this stuff. Also go to your foreclosure auction/sheriff/tax sale & network with those buyers.
Do that in addition to what Fadiz said and you’ll get a list. Once you get a deal & publicize it, your phone will be ringing off the hook.
YOur on the right track with your questions, I would also ask them how many deals they do in a typical year, if they will be using cash or a creditline, or financing. If they are serious buyers ask them if they can provide a verification of cash funds or a prepproval letter prior to assigning them a contract or wrtiing up a contract with you. Once you have done a deal or two with them then you can let down your guard.
It is extremely important to build a quality buyers list before tyeing up properties, Many of the people that you end up talking to will be all talk and no action, and the last thing you want to do is find out your buyers list is all fluff and no stuff, when it comes time to close on a home.
Spend the time and either do some searching for the answers to your questions here or cut to the chase and invest in a good wholesaling program that will answer all your questions A - Z and some you haven’t even thought of yet. Plus it’ll cut your learning curve significantly. It’s up to you. If spending the funds isn’t an option right now, just read and keep reading some more on this site and you’ll eventually get your “ah-ha!” moment hopefully.
IMO Vena Jones-Cox has an excellent program and Steve Cook has some dvd’s on ugly houses that are an excellent learning tutorial as well. Do a search on Google for either one and woolaa…your where you want to be.
I got my 1st list of “serious” buyers at the foreclosure auction/sheriff’s sale. I took note of who bought houses at the sale. After they paid for their houses, I just introduced myself & asked them similar questions Aarron to what you wrote above.
Of course, I already knew they were serious cash buyers b/c they bought at the foreclosure sale.
You’ll find that there may be some at the foreclosure sale that like to buy several houses each month. Those are good contacts to have!