The most common question asked by wholesalers is, “How & where do you find real estate investors or buyers?”
Unless you have already been marketing your self as a wholesaler a really long time you probably don't have a strong buyer's list. Investors and real estate agents generally show some awed respect for this seemingly impossible task. In fact, having a active and large buyer's list or investor pool is not as mysterious or as difficult as you might imagine, although it does require some organization and concentration.
Here are 17 easy ways to build a buyers list to use in your wholesaling and flipping properties real estate investing business:
Building A Wholesale Buyers List
1. Call the “For Rent”, “Lease Option” “Renovated” ads in the newspaper, craigslist, backpage, kijiji, etc.
2. Call the “For Rent” signs that are handwritten that you see hiding behind the bushes 🙂
3. Call the “We Buy Houses” people. Yes, the majority are wholesalers..which we all need.
4. Market for another wholesaler by using a “Flex Option”. This will put money in your pocket, and build your buyers list. Market the property using Bandit Signs, online ads, newspaper, social media, etc.. When the investor calls, spend a few minutes discussing what they are specifically looking for.
5. Have a property under contract!! Nothing speaks louder than real deals, and if the numbers are good, your responses should be high.
6. Go to a real estate Auction. In Honolulu, every business day there is an auction downtown. Find the investors that are making offers and introduce yourself to them. For the most part, these auctions require all cash.
7. Call the Section 8 office or Housing Authority in your city, and property managers. Ask them who they know who is actively looking for more real estate investments, or needing to sell quickly. Start schmoozing with them and try and get a list.
8. Hard Money Lenders all know cash buyers and most are very willing to spread the word. Get a deal under contract, make sure your hard money lenders know about it. They are motivated because they might get the points and interest for funding 30-40% of the deal.
9. Your local REIA meetings. Nothing takes the place of talking and shaking hands. But beware, many are tire kickers so proceed with wisdom.
10. Use Social Media!! Linkedin, Twitter, Facebook, REIClub.com, BiggerPockets, or RealEstateInvestor.Com. Sign up to be a part of a group for your target city. Make sure you read the profiles, and connect with those people.
11. Post an ad in Craigslist saying you have properties 30%-50% of retail value. Send them to your site or squeeze page.
12. Make a solid contact with a realtor that will search the MLS for cash buyers within the last 6 months.
13. Go to events that are geared towards real estate, hard money, financing.
14. Search in Google, Yahoo, Bing, Facebook, Twitter “Sell houses fast”, “We Buy Houses”. Typically in Google you will get the first page of national wholesalers or lead capture services. Page 2 is where you will start seeing genuine sites that are typically real deal investors.
15. Contact you're power team members such as your title agent, attorney, insurance agent, buyers real estate agents, bird dogs. Just start talking away, and the word can spread quick.
16. Become internet savvy. Create a website with a squeeze page on it. Work on making your site SEO friendly. If you use WordPress, there are SEO plugins that are awesome. Just search SEO plugins for WordPress. A couple that I like are SEO smart links, and SEO friendly images.
17. You can purchase a list of landlords and absentee owners from Listsource or Realquest. Contact them via direct mail or call them. I personally have not used this approach but heard it works.
Create A Marketing Plan
Since a strategy is at the core of your plan, you need to develop a strategy that best positions your property in the marketplace. Your marketing strategies should be supported by capitalizing on your properties strengths and minimizing its weaknesses.
Spend some time conducting a complete evaluation of the local market, areas comps and your properties strengths, weaknesses, and the wants, needs and desires of your potential buyers.