My proven method of locating cash buyers

General Real Estate Investing
1

Most “gurus” say that you have to find the buyers first and then deals. But from my wholesaling experience, finding the deals then the buyers worked out the best.
Here is how I do it.

The best way to find the cash buyers is the following:

  1. Go to your county’s property appraiser/assessor website.
  2. If you have a specific property under contract you want to market, search for it there. Click on nearby sales, if such button exists.
  3. If you don’t a property under contract and just looking for cash buyers in that city/area, set your zip codes/cities in search and the property types such as SFH, MFU or condo. Search the most recent sales.
  4. Click on every single record one by one.
  5. There you will see sales history for that clicked property. If the last buyer was corporate entity or individual with mailing address different than the property address, that’s a cash buyer. Skiptrace the corporate owner or the property owner and give a call.
  6. If the last buyer is an individual and the property is a homestead, then it is a typical sale. In this case look at the previous sale date, price and the buyer. If one or all of these conditions are met, then you found your cash buyer: the previous sale date was within 12 months from the last sale; or the price was less than 80% of the last sale price; or the previous buyer/last seller was a corporate entity. Again skiptrace that individual and give a call.

By using this method, you can laser focus your efforts only to those who buy in that area, in that price range and that property type. Most sfh buyers never buy condos, and condo buyers might not buy multi families. Most investors buy only concrete or brick houses, while others also buy frame structured houses too.

2

Informative! Thanks for sharing your knowledge and experience in this forum. This could help me to become more efficient in this industry. :biggrin

3

I would say to the OP - you wrote about finding the deals and then the buyers come. This is what I have done.

But then you typed about finding buyers through the county. What about how you find sellers???

4

Great Post!

In my opinion it’s a little more 50/50 re finding buyers vs sellers. I say that because as someone who doesn’t wholesale as a primary method of working with sellers/properties I have had limited success wholesaling a few. I have a decent network of people and the deals were ok (I 100 percent admit they weren’t home runs, but still decent) and I struggled finding buyers. One I sold, one I released and one I bought myself after the seller finally lowered their price.