Creating Cash Buyer's List

General Real Estate Investing
1

Good morning/afternoon all.

I was gonna buy this wholesaling course from Eric Medemar, but I thought I will ask this forum for advice first.

First, I have very limited money. I am unemployed, bankrupt and broke. Ok, now that I got that out of the way, here’s what I have in mind

I’m interested in wholesaling. I want to locate cash buyers who can close within 48 hours and they should be genuine.

  1. How do I go about identifying these people?
  2. What do I say to these guys?
  3. How do I get them on board?

Thanks,
– Gopal

2

Hi,

A cash buyer to you, can be a buyer with 25 to 30% down who can be paired with a Hard Money Lender.

You want to sell properties fast as a wholesaler, however if you limited yourself to strictly buyers with all cash you probable limit your prospective buyers by 8 out of 10 who can’t afford to purchase from you all cash!

Find a couple of good hard money lenders you can refer your buyers to, to finance a part of your properties purchase! Realistically don’t expect any buyer to close in 48 hours, probable more realistically is 7 to 10 days.

I am a very active investor who has the ability to buy all cash, however the reality is I maybe only buy 1 or 2 residential properties a year with all cash as like any other investor I am looking to take advantage of OPM (Other Peoples Money). IE Banks, Lenders, Pension Funds, Private Loans, Hard Money, Reit Mortgages, Public Offerings, IRA Investments, Insurance Companies, etc.

Good luck,

              GR
3

The key here is getting your self in position to leverage your time and money. Yes you dont have much money right now, but you are going to have to come up a couple bucks for marketing money. Maybe 100 bucks. Get you some signs.

As for the buyers, craigslist has every thing you need to generate a nice looking list.

Go out there and reel them in. Don’t drive around the city, get both the buyers and sellers to call you.

Leverage that time. :bobble