:banghead have been spending a lot of time and not having much luck on starting up my wholesale buyers list…each time i try to go online and find investors i end up at some off the wall site with no investors to be found…having been taking down bandit sign inf to locate some investors but not returning calls…any suggestions would make my day…kenzie12
You’re not going to get any replies until you have a specific property to offer. Most of these guys figure you’re just another in a long line of wannabes.
You’ve posted similar questions and evidently, you don’t like the answers.
Go find a deal first.
To begin, I want to encourage you to keep taking action… you are DOING and that matters. Also, I want to thank you for asking this question because it is a lot more important than many people imagine. I’ve worked with a lot of new investors that focus only on finding the deal only to find out that they should have been looking for buyers from day one as well.
First, it is a lot easier to attract wholesale, investor buyers with a property as AJ290 and javipa mentioned and that is primarily how I built all my buyers lists running our wholesaling business in 280 markets.
If you have a real estate license, you can get permission from the listing agent to market one of their properties if you do not have a property of your own.
If you do not have a property and do not have a real estate license, you can may also want to consider getting an option on a property that another investor you know has so that you can market that property based on your option.
Now I mentioned that it is easier to do it with a property and that is why I suggested a few ways to be able to market a property even if you don’t have one yourself.
Your response rate for an ad online on sites like CraigsList you run for a “list of properties” or “seeking investor buyers” without a specific property will be much lower than your response rates for marketing a specific property (if the property is a good deal).
However, you can still get a decent response (although still lower than marketing a specific property) if you’re willing to do direct mail to the absentee owner mailing list of recent buyers in the last 6 months in the neighborhoods you expect to be finding your deals. These are investors that have actually bought properties recently and are FAR better in my experience than people that just reply to an ad on CraigsList anyway.
To get the mailing list it will cost about $100 to get a list (if you cannot find a way to get it for free from your title company or local real estate agent) of 1,000 recent buyers. To mail out 1,000 postcards using Click2Mail, will cost you about $350 more for printing and postage and everything… so for about $450 you should have a solid start to your buyers list and can make your wholesale offers with a lot more confidence knowing what your buyers on your list want and are willing to pay (something that should not be overlooked as it is critically important and actually significantly improves your ability to close the deal both on the buy side and the selling side).
Keep at it… you’re getting closer and I know you can do it.
Please let me know how it goes. I’d love to hear about your success.
great post James! im a newbie with 2 deals under my belt and im still learning the ropes. you are investing in 280 markets… :eyecrazy holy 280 markets Batman!
Yes, to be clear I was “wholesaling” in 280 markets using low and no-risk methods of control. I was not “investing” in 280 markets. I am going to do something very similar again, but in a vastly different way than I did it last time.