After reading my previous posts on wholesalers, you should be able to find deals and know that they need to be bought at a deep enough discount that you can sell them to investors who, in turn, can make their own profit from them. Here we will assume that 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 the net at your local REIA meetings. You can find the meetings of your local real estate investors association at NationalREIA.org. Be sure to attend regularly to meet your local investors and what they’re looking for. Some like big rehabs, some like smaller ones, some want properties they can invest less in and then hold long term as rentals and want to buy those with equity already in them.
2. In most areas, you can find diversified investors meetings at MeetUp.com. Once again, attend and network to be known as the local with wholesale properties.
3. Find local Homeowners Association meetings Your attendees are really doing business and are often looking for more properties for themselves.
Four. Call all bandit cartels you can find and see if any of those investors are interested in your deals. Request permission to add your email and phone number to your list of potential buyers.
5. get names, phone numbers, and email addresses at each meeting you attend. This is how you make your list of investors to send by mail. I am constantly 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 many names. What you want on the list are quality names, ones that are actually doing business, that have the funds, desire, and ability to buy deals from you. It really doesn’t take many names to make a big 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 don’t sell, they’re not deals, which means you’re either 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 be in network and be part of the investment group to be successful.
8. If you have too many offers for sale, 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’re looking for mobile homes, do you have mobile home buyers on your list? If you buy in highly disadvantaged areas, do you have investors who want those deals? Make sure your buyer list is diversified enough to have buyers for any type of deal you find.
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’ll be looking for you.
Do you have a list of buyers? Are you able to sell quickly? What tips can you add?