Right now I don’t have any cash buyers, and tomorrow I have a contract to sign with an investment property that looks like a good deal to me. I need help building a cash buyers list of Rehabers and people who want to rent properties. Where do I get started so i can build a decent Cash buyers list in the next week?
OK so I’m calling all the rental ads in the local papers, getting a few bites there but nothing “GREEN”
Looking in my county assessors office for “CASH DEALS” with peoples names and phone book. Have not got any cash buyers out of that yet.
Called a few rehab and restoration companies out of the phone book. Couple of them interested in seeing what I have.
But I’m no where close to having a list with 100-200 buyers on it… 10 At best. There must be a better way?
Any tips/ideas for me?
P.S. I have deals that I need to unload ASAP! I’m 1001% flexible with my assignment fee, just want to get some property moved!
you should have established your buyers list before you started making offers on deals.
what state are you
Well I know, I just see so many deals around I just couldn’t help but grab em! 50-70cents on the FMV dollar. I’m in south eastern WA walla walla area.
Good evening Aces,
The property you are buying should have been up for sale by you before you close on it. You should be putting the deals on the market as soon as you walk away with a signed agreement to purchase. I am only guessing you had 30 or more days to close…so the property should have been on the market at least 29 and 3/4 days, right?
I have seen people run adds on a home that was for sale at a to good to be true price then collecting names and numbers and interviewing the people for their realestate wants and needs and building a buyers list from that. Not something I choose to do but it produced phenomanal results for him from end users to rehab cash buyers to other investors.
Walla Walla…really cool. Drew Bledsoe has a wine grapes there.
Hope this helps,
Darin
Hi Aces,
You should have given yourself 45 days to close.
Well, have you tried extending the closing?
How to find cash buyers:
Online and offline Networking: REIAs, LinkedIn, Facebook, etc.
MLS – pull all cash transactions settled in your area. Then mail to them to join your buyer’s list.
Craigslist/Backpage
For sale signs
Sherriff sale
Good luck!
Aces,
You’re laying bait too far from the trap (from what you’ve shared).
You MUST get bandit signs out all around that property; on the lawn, at every corner/intersection within at least a 1/4 mile of the property.
Your mostly likely buyers are already trolling your neighborhood for deals.
Don’t put up anything fancy. The worse it looks the more attention you’ll get. Your signs should look like a fourth grader wrote on them…
Advertise the benefit to the buyer for buying your house. Some I’ve used and seen are: 30% Off…! Kick Me I’m Down…! Huge All-Cash Discount…! Sleep With Me…!
Yep, on the last one. Somebody on this board referred a link to a hilarious video a guy made about how he effectively markets and flips his wholesale deals quickly. If I can find it again, I’ll post it here. But he puts up bandit signs, as I’ve suggested, but his headline reads, “Sleep With Me!”
Of course this guy comes across as a complete hustler (in the most used car salesman sense of the term), but he gets results. I’m sure he learned to stick out like this, because he had some panicky moments attempting to flip some early deals.
It sounds like you’re assigning deals, and the sellers don’t know you’re not the principal buyer. It’s gonna take a different marketing approach, especially if the seller is going to see your marketing effort.
In the event of an assignment, it’s better to explain …to the seller …the principal way you do business …so that if/when you pound a sign into the seller’s lawn, he won’t feel like a sucker when he sees that you’re walking off with a giant profit (anything you get will seem to the seller like an advantage-taking theft by you).
FWIW
Thats great Javipa! I got a real kick out of those marketing strategies. I do have some bandit signs laying around in my basement somewhere, but I can only keep them up on the weekends in my area. I do feel akward putting them up on a property I’m wholesaling, even when it’s vacant, should I not?
I do explain to the seller that I will not personally be buying the property, I work with “partners” that I hand it over to that do the rehabing/renting and Im the one that finds deals for them because it makes life easier. And it get asked all the questions “isn’t that what a real estate agent does?” and you’ve probably heard these yourself.
I’ve made 2 wholesale deals in my time as a real estate investor 4k a pop. that was about 2 years ago, guess I just got lucky.
This is a great way to find cash buyers!!! Or simply make some ugly signs and place them all over the city,
3 bed 2 bath
Needs TLC Motivated
$19,000
210-xxx-xxxx
This isn’t exactly a quick way to find cash buyers but posting ads on Craigslist, Backpage, and Ebay Classifieds gives me a steady flow of buyers. I get about 5-10 new buyers per week by posting about 3 ads per week looking for cash buyers.
You should have build a list by now because is not something you can find in a rush. I recommend that you find a local hard money lender and offer them a fee if they find you a cash buyer that buys the property from you.
Aces any updates on how you found your buyer? Did you close on this house? Hope so… :beer