I have a ton of questions. Sorry to be a pain. I don’t seem to have a local REI club in my area. Where are some places to find buyers for the houses I find?
Dave
What city,state are you in, I’ll see if I can find some on the net.
Harrisburg, PA
http://www.reiclub.com/real-estate-clubs/Pennsylvania.html
http://www.nationalreia.com/states/Pennsylvania.html
Above are a couple of lists, I have no idea if any are close to Harrisburg. Good luck.
Yes. I have looked at those lists. No luch. Where else would I look for buyers?
When you say “buyers” are you referring to investors to flip properties to or buyers to sell your retail properties to? It sounds like the former. If so, I’d advertise in a local free circular like “Thrifty Nickel”, “Pennysaver”, or “Greensheet”. Place an ad for a fictitious property that requires rehab work, and offer a mouth-watering deal. For example:
HANDYMAN SPECIAL!
As-is. Needs ~$15k work.
ARV $125k. 1st offer over $70k delivers!
Serious Inquiries Only!
555-5555
I guarantee if there are any serious investors in your area, your phone will be ringing off the hook.
What do I tell them when the call? The house was sold? What information do I get from them?
There aren’t any REI clubs in my area either, and no “we buy houses” signs or ads to call.
So… the next best thing for a wholesaler would be a Landlord’s group, many more towns have those than have investor groups.
If that’s also a no-go, you can call landlords out of the paper and from for rent signs (on houses not apartments) and ask if they know anyone who buys fixer-upper houses to rehab and rent out or sell.
You can also set up a meeting with the head brokers of all your local real estate agencies. Virtually all of them fix houses up for investment since they have huge amounts of cash from their agents selling all the retail houses, and many head brokers do not take listings so that they aren’t in competition with their agents, they’ve got to do something with all that money might as well buy houses!
And what NoMoneyDown said, run an ad or two, but personally I wouldn’t put a fake house up there, get a real house under contract and advertise that instead.
Sure, you can tell them that you found a buyer already, or you can even tell them the truth. The point being is that you now have a (hopefully) serious investor on the phone who is interested in taking flips. You should ask them what types of deals (property info, financial info) they would be interested in as you have/expect-to come across more in the future.
Great info. Thanks guys!!!
Dave