What is the best way to find buyers for a whole sale property? I am not having any luck even when I have a great deal. HELP!!!
There are definitely so many ways to find buyers.
One of my favorite as far as finding cash buyers is to perform an MLS search for properties that have sold for cash in the last 6 months in your area of interest. Contact those buyers (you can find their info at the Recorder of Deeds office) or their selling agent (but you would have to pay a commission most likely.) Most likely they would be receptive buyers to your offer and qualified (cash buyers!) :biggrin
At first I would advertise on Craig’s List. You put an ad in there that states "Handyman Special, Insane deal at 40% or 50% of ARV you phone will be ringing off the proverbial hook, and it will cause a kind of feeding frenzy.
But now, because of these previous ads I ran on CL I have 4 solid cash buyers that will usually buy everything I throw at them. And my last deal was sold in 20 minutes.
Thanks for the advice for Craigslist! I am a new wholesaler and needed help with where/how to market.
Melissa
Another couple of ideas include using bandit signs and car decals. You may have seen them around. Those are the “We buy cheap houses.” But instead, how about, “We Sell Cheap Houses” or “Houses for Sale Below Market.” Just make sure you meet any local advertising ordinances.
Whats up Maddog20/20 :biggrin
There are several ways you can get your buyers list built up. Craigslist is a good one. Post a junker on the Craigslist, when the buyers contact you about it via email, let them know its already sold, but (IMPORTANT STEP) you must take down their name, email, and phone number. Tell them this: “I get properties like this from time to time, give me your email, and phone number to call you when I get another on just like it.”
Now if you or the cash buyer are not looking to get off the phone so fast, you can also take down areas that they like to buy and place out bandit signs in them areas so that you will know who will be interested when you get a home under contract in that area.
Manuelangeles
I have a question. I’m getting deals sent to me by my real estate agent. Can I still use “We buy houses” companies to sell these properties? I’m new to this. =)
Sure, you can sell to anyone who is buying. But, the “We buy houses” are either wholesalers or rehabbers. They are looking for homes that are well below market value. Usually they expect to pay less than 70% ARV. If you can find a deal that gives you a cut of the pie - then go for it.