After reading my previous wholesale posts, you should be able to find deals and know that they need to be bought at a discount large enough to sell to investors who, in turn, can make their own profit on them. Here we’ll assume you have these great deals and you just don’t have buyers to buy them.
So how do you find cash buyers?
1. First, it is important network at your local REIA meetings. You can find the local real estate investors association meetings at NationalREIA.org. Make sure to attend regularly to get to know your local investors and what they are looking for. Some like big renovations, others like smaller ones, some want properties in which they can invest less and then keep them long-term as rent and they want to buy those that already have capital in them.
2. In most areas, you can find diversified investors meetings on MeetUp.com. Once again, attend and network to be known as the local with wholesale properties.
3. Local search Homeowners association meetings. Your assistants are really doing the business and are often looking for more properties for themselves.
Four. Call all the bandit posters you can find and see if any of those investors are interested in your deals. Ask for permission to add your email and phone number to your list of potential buyers.
5. Get names, phone numbers, and email addresses at every meeting you attend. This is how you make your investor list to mail. I’m constantly being asked where to get a list of potential buyers and sellers. The list cannot be bought, you make it yourself. It takes time but you don’t need a lot of names. What you want on the list are quality names, those who are really doing the business, who have the funds, the desire, and the ability to buy deals from you. Actually, it doesn’t take many names to create a large list.
6. If you have great offers, you won’t need to talk to many investors to sell them. If you talk to six investors and they are not selling, they are not deals, which means you are paying too much to buy or expecting too much profit when you resell.
7. Be proactive. If there are no good investor meetings near you, start one. This is not an isolated business; You must network and be part of the investor pool to be successful.
8. If you have too many offers for sale, they may not actually be offers. If your properties are not selling quickly, they are probably priced too high.
9. Do you have the right investors? for your offers? If you are looking for mobile homes, do you have mobile home buyers on your list? If you buy in heavily affected areas, do you have investors who want those deals? Make sure your buyer list is diversified enough to have buyers for whatever deal type you come across.
10. Are your offers good? If you really have good deals, investors will make a profit when they buy from you and will come back again and again. Soon, you won’t be looking for investor buyers, they will be looking for you.
Do you have a buyer’s list? Can you sell quickly? What tips can you add?