I wanted to know should i shop around for buyers before or after i have properties for sale
Hi,
Find and build your owner occupied and investor buyers list then go out and contract for properties your buyers want!
GR
The most successful wholesalers I know have a list of buyers on standby, and then find the deals. I would recommend building a Facebook community of investors in your area, or an opt-in email list, to really be able to communicate with them regularly. Stay away from cell phone text messages or spam email advertising though — that will just piss off investors / buyers. LOL.
But - there is nothing stopping you from putting a house under contract first, and placing a zillion bandit signs or classified ads, and then finding a buyer. I have seen it done that way too … but its just harder.
Good luck!
When I first started out I built up my buyers list, and then that went stale because I couldn’t find any houses. If you find the right deal, buyers will come to you. Then the question is what is the right deal? Talk to other investors in your area and see where they invest and what they are paying for properties to get an idea. Look through the MLS and find the properties that were bought with Cash to get an idea of what investors are paying.
I like the idea of spending most of my time finding houses. I know investors who have buyers and am more then willing to share the profits if another investor brings me a buyer.
Unless the house is in a “cannot go wrong” area, I would definitely build a buyer’s list first: create a landing page and advertise on Craigslist to get potential buyers to sign up with an opt-in form and run Google PPC ads targeting your geographic area: I have raised over 200 buyers on my list just by doing those 2 things in a few weeks.
If you are more ambitious, create a Group on Linkedin or Facebook (good idea anyway, in order to network with your exisiting buyer’s list) with opt-in forms, leave bandit signs around (and collect email addresses as the calls come in - tell them you can let them know about future properties coming up.)
Also send a survey to your buyers every couple of months to find out which properties they are interested in and how much they want to spend, so you can keep your list fresh.
Buyers are getting more and more specific with what they want. Why? because they can. So find out what they want, where they want it, etc, then go get after it. But keep in touch with your buyers as you get them the property they need so that lead doesn’t go stale.
I like certain areas, but I won’t do a 2 bedroom home. So, you wouldn’t do well go get one for me. See, that is what you need to know. As a Wholesaler you get paid a buyer pays you. They only pay you, if you have a property they want.