How to find buyers now might not currently seem to be an important issue in this generally hot seller’s market. However, you can take advantage of this point in the real estate market to fine tune your marketing skills to both maximize your wholesaling or rehabbing profits as well as be fully prepared for when the market eventually cools off.
In fact, the market traditionally cools off during the holiday season, making it the perfect time to enhance and expand your skills. There are many ways of going about finding buyers for your investments. Many beginning investors start by building a list of other wholesale buyers. They learn what more experienced investors are looking for and then hunt down the houses they want to flip houses to those wholesale buyers.
Leads or prospects for buyers are at the foundation of any real estate investment business. “How to find a buyer now?” – is a question that you should ask yourself frequently. Broadly, there are two ways – online and offline. Within those broad methods are many individual strategies.
How to Find a Buyer Now – Online Strategy
One of the first strategies you need is creating your own website showing the properties you are offering. Finding and attracting buyers can also be accomplished through inexpensive online advertising. For instance, you can run small ads on Google that only appear on people's computers when they search for a keyword that you choose. You only pay when your ad is displayed. By carefully selecting your keyword, your ad is only shown to a highly targeted audience (often you want to include a local location to narrow the audience).
Facebook and other social media are also effective for finding buyers and other investors. Facebook allows advertising that targets people that join specific groups and/or people that list specific interests. Twitter is a good way to stay in touch with people that you have already made contact with. Other options include advertising on Zillow or Trulia.
How to Find a Buyer For Rehab – What to Avoid
Make sure the home is in near perfect condition (as close as possible). Nothing turns off a homebuyer faster than showing a house with filthy floors and kitchen counters stacked with dirty dishes and growing life forms that should be in a petri dish.
De-clutter and clean the home. Steam clean tile floors, wipe down and/or paint walls, and generally put the best face on the home that you can. The holidays are a great time for this when many people are already doing a deep cleaning to entertain family and friends.
Take it to the next level by replacing carpets. Not doing so can be a major mistake when sellers don’t want to further invest in a home they are planning to soon leave. However, putting a smiley face on the home is how to find a quick buyer that is willing to pay top dollar.
How to Find a Buyer – Niche or Wide Net
When it comes to real estate investing, you really do have many marketing options. You need to consider if you want to attempt to attract a broad portion of the population or if you want to focus on a narrow part of the population.
Going broad is almost always going to cost you more in marketing and advertising expenses. Of course, it also opens up more opportunities for you. Investors need to fully understand and take a close look at the market you want to be in, are in, and other markets that you could be in.
Sometimes going small with a niche market is best. If you're near a large military installation, you might want to focus on that niche market. When you do, your name is passed around (word of mouth) so that you become an expert within a common group of people. Another option is focusing on golf course homes, homes on lakes, and other specialty niche markets.
How to Find a Buyers – Growing Your Market
There is more to figuring out how to build a buyers list than the investment house itself. The neighborhood restaurants, cafes, schools, and shopping centers all play a role in the decision. Be sure to feature these at least in part with most or all of your marketing materials.
Real estate investing does not need to be about owning as much property as possible. It should be about controlling as much property as possible for the least amount of money and risk.
That makes the Sandwich Lease Option the most attractive investing method I know of. You can take control of the property for a couple of hundred dollars. You then put an option buyer (expand your market) in place who takes on most of the homeownership responsibilities until they make the purchase and take on full ownership responsibility. The Sandwich Lease Option lets you make a big profit for a small investment. This is the method that I highly encourage my students to use.
Related Article: The Basics of Buying and Selling with Lease Options
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