Finding Buyers Lessons (Part 2)

Bird Dogs, Wholesaling
1

Okay…tough times call for tough measures…

Pay very close attention to this first one because essentially you can have your buyers list up and running in under 1 week…In any market…Under any condition.

I came up with this strategy when I was a rookie real estate agent trying to shortcut the process of locating investors to sell property to.

This strategy is hands down the quickest, least expensive, and most deadly effective way that I know to build a massive buyers list in record time.


Reverse Cowgirl Strategy (nothing to do with cows, but I like the name for some odd reason)

STEP 1

  1. Contact a real estate agent in your market and have them email you a list of all of the homes that have sold in the past 3 to 6 months that were either foreclosures or handyman specials…

If they can’t send you a specific list then have then have them send you a list of all the homes and you can sort through them yourself looking for the ones that were in rough shape.

  1. So now you have a list of addresses that have been sold in the past 6 months and you have sorted the foreclosures and handymans out.

  2. Take that list and go to your county tax records either online or in person and cross reference those addresses with the tax records and find out who bought the homes…

  3. Look for names that appear numerous times and you can be sure that your dealing with a big investor.

  4. Look for addresses where the homeowner address does not match the address of the home itself…Then you know your dealing with a non owner occupied property which is an investor.

STEP 2

  1. Now that you have the name, address and phone number of a list of investors it’s time to contact them.

  2. As far as dialogue goes I suggest using something like this…"Hi Mr. Investor this is Eric Medemar and I am a Real estate investor here in the (your city) area and I keep seeing your name come up when I am researching properties…Quite often we run into some properties that can be bought for (Whatever discount rate is) and we can’t possibly close on all of them…I’m wondering if you’d be offended if I gave you a call when I run into one of these properties…I would use this line almost verbatim.

Believe it or not the little stuff like this makes a massive difference…Using “Would you be offended if” is a major sales softener and investors will have an insane amount of difficulty saying “Yes, I would be offended if you called me with discount property”…They would just sound stupid. “Would you be offended if” shifts the emphasis from “Do you want me to call”…Which most people don’t want…to…“Would it offend you”…

  1. If you cannot contact them directly then consider sending them a direct response postcard that drives them to your website or phone number where they can learn more.

I’m out of time…I will be adding 3 more strategies to this when I get a chance…Should be sometime this week.

In the meantime get to work on this one…this strategy is FOOLPROOF.

One of the next strategies that I am going to share worked so well the first time I used it I had an investor call me within 30 minutes of using it (He faxed me a preapproval letter for $2,000,000)…He has bought 4 homes with me in the past 40 days…

Eric Medemar

2

eric
great tip
i’m hitting the streets today
i’m going to use a cma list to check recently rehabbed properties and drum a new list of buyers
i always thought it was --get the contract and the buyers will come–
now I know you can work the reverse and supply a direct need to buyers
and take the chance out of it
thanks
look forward to the other juicy nuggets
neil o
philly

3

Thanks so much for taking time to share this.I’ll give it a try this week.

4

Eric,
Thanks for spelling it out for us step by step. I fully intend to make good use of it.

5

What is a CMA list?

6

I believe it stands for Comparative Market Analysis. Someone correct me if I’m wrong.

7

Eric,

Do I need to find a real estate agent that works with investors, or will just about any agent be willing to give me a list of the homes that have sold in the last 3 to 6 months?

Thanks,
Josh

8

good stuff

9

tried to do a reverse MLS thing but this is what a realtor told me:

“You are way too gerealized on your request. First off it would entail providing all closings in the last three to six months as one would have to be familiar and have toured each and every house to determine if if was a forclosure or a handyman special.
Once I can ascertain that you are a qualified buyer (with the immediate capacity to buy) I am willing to provide the information on what has sold. I would then coach you as to how you would or could find out additional information.”

:what do i do now? find another realtor that can get me this information?

10

Okay, In my market our homes are listed on a A to AAAA scale with 4 A’s being the best. I try to sort the bottom 50%…

You have a couple of options:

  1. You could have them email you a massive list and sort through the ones that look in rough shape. Not that hard to spot as you might imagine.

OR

  1. Go to you HUD website and look at the bid results and statics and start tracking sales. Be sure that you are looking a Investor Sales and not owner occ…

Do this and you will have will have a list of people buying up homes that are definately investors other wise they would have bought them at the owner occupied stage.

Eric

11

Thanks again,eric.Reverse cowgirl strategy,ha love that.