What is the best way to market properties to investors?
I have some wholesale properties and some properties that I own.
The most frustrating part is the marketing for me. What do you use?
I got so frustrated that I started a free classifieds website just so that I could list properties and control my listings. Plus, I can send people there.
But, really what do you use?
Having a buyers list prior to having the properties is helpful.
You can get a direct mail list of non owner occupied property (landlords)
Or multifamily property (landlords)
You can list your property on Craigslist. (you will have to market your personal web site to get people to go to it so use one that people are already going to.)
You can email landlords who are advertising places for rent on Craigslist.
You can go to your local REIA meeting and tell the investors what you have for sale.
I would do all of the above, as you do it collect email addresses of every investor you run across so selling future properties will consist of sending a bulk email. Also, when communicating with them ask everyone what they like to buy and what are their buying criteria. That way you are looking for the type of property that people you know want.
Stanfield.
Try this! Go to meetup.com, looking under real estate, sign up for all of the REI clubs in your area post your deal. Remember to collect all the names and email addresses from the response. Here is another thing I use after getting that deal start putting up some “handy man special bandit sign” (in the area of the deal) Oh yeah, hand write the bandit signs.
I see so many conflicting answers when it comes to the buyers list. One forum says it’s best to have a buyers list in place before anything else, while others say to go find the deal first. If it’s a good deal then the buyers will come to you, after listing it of course. Very confusing sometimes.
Well, I think it is a good idea to have your buyers list in place but if you find a good deal you should have no problems assigning your contract. Here is my take on a buyers list if you have one in place (a strong one) the faster you can assign your contact to other investors and get paid. Without a buyers list it may take you awhile to assign that contract. A buyers list is one of the most important parts of a wholesalers business. Oh, here another tip check out Trustee Sale at he Court House you’ll find some real deal investors.
Interesting idea harrisjr, I never thought of the foreclosure auctions but you couldn’t find a better place for buyers.
areinvestor, it is much easier to have them in place first. I can’t tell you how many investors have contacted me by finding my we buy houses web site after they already have the deal in place. If they would have talked to me previously I could have told them that I buy junkers, am a landlord and not a flipper. There are different kinds of properties that different types of investors look for. It’s best to know some real serious buyers that you are confident will buy a property from you if you meet their buying criteria. That way you look for what you already know you can sell and within a couple of days you made your 5K or whatever.
I have seen many wholesalers misjudge the ARV significantly turning what they thought was a fantastic deal into something that they are completely wasting time on. Get the specifics from your investors of what they want and go get it. And remember the number one pitfall that I see are inaccurate ARV’s. Think in the terms of the investor fixing it up and wanting to sell it in 30 days when doing your initial negotiations. And that house that sold 6 months ago next door could have sat on the market for the past year.
Getting high value, genuine investors is all about building your personal networks. Make use of Twitter and Facebook. Go out and meet up with people in the REI clubs, bankers club or any elite social network that you can have an opportunity to get in touch one on one…This are the skills that will remain the core of real estate marketing…Good luck!
Thank you to all the great responses! I appreciate the tips.
I did start a free classifieds website as well thinking I could list my properties and find other wholesalers, investors, etc by the postings.
It seems like a start. PM me if you would like to know the website address.
Start Building a Buyers List for your Wholesale Deals ASAP!!
By doing this You will make your Real Estate Investing Business
a little More Stress Free.
Build a Nice Buyers Squeeze page and start Building your Buyers list, this is key!! Use FREE Online Classified to drive traffic to your Buyers/Investors Squeeze page.
Craigslist is a good place to start,
Good Luck :bobble
Went to REI meeting today.
Met up with some CA investors that flew in to find properties in my area. Made great working relationship with them today.
Wholesaling properties now.
Not much per transaction, but they want 30 homes. So I will be a busy beaver for sure!
Still need to find more investors though. I have my team coming together nicely. Bird dog, property manager/rehab, title company. Now the marketing! Mostly find homes in the 10K-20K range.
You yourself can’t reach in depth of your customer segment because it is not centrally located. Better you appoint agents in various areas. Add the photographs of the listed property or get the live demo slides of the properties to give a better idea of the offered property. Make necessary arrangement to provide all the related services after sales.