Cash Buyers

When it comes to wholesaling houses, you will need some cash buyers. I have wholesaled many deals to other buyers, but cash buyers are always the easiest. You might make a little less on your fee, but they can close faster and easier. Most of the time cash buyers will have more experience than any other buyer too. Along with a easier process, you will probably sell to these buyers over and over again.

Either way, this is a group of people that you need to build into your team/system. Some say that you need a huge list of thousands of buyers, but that’s really not true. If you have a small group of cash buyers who you know can follow through and you know exactly what they will buy, then you can feed them lots of deals. Once you start growing and getting more deals in different areas you will want to have buyers who will buy anything in any location, so you continue to grow your buyer list as needed. To get started, you really only need a couple serious buyers who will take action on a good deal.

How to find cash buyers? This is a part of your business that you can approach a couple of different ways. The fastest way to find some buyers is from craigslist. You can post your ads on craigslist and get massive exposure fast and free. Don’t worry; you do not have to have any deal under contract yet. You can simply post an add that says (“Wholesale Priced Houses” Call Me or Visit Site), see the material tab to see some examples of ads that I use. You can also post ghost ads, example: (3 bed 2 bath fixer upper, great location, reply to email), this will get a larger response. After about 3 days reply to all these emails to see what they are looking for and add them to your buyers list.

Another great way to find real cash buyers is to use a local real estate agent, which you want to eventually find a good one and add them to your team. You can have your agent pull a list of recently sold properties, and ones that sold for cash. I would have them pull in a area where you plan on finding deals, and have them pull 12 months history, cash transaction. This will give you a list of properties that sold for cash in the previous year. Many of these are houses bought buy investors, so you can pull up the list of addresses on the assessor website in order to find an absentee address. Then, you write a letter to the owner letting them know that you are a new investor in the area who has a lot of good deals come into your business. Give them all your contact info and try to get them to respond with all their info and criteria of interest.

I would suggest having some kind of system in place so you can collect contact information about all your buyers. You need to be able to send an email blast to them or contact them with ease when a deal comes available. I use Podio for all my leads and it’s a good contact management too. You can use this for buyers, sellers and much more and it’s FREE…

Another way that I see build their buyers list is buy using bandit signs. Example for bandit sign ad is: (3/2 fixer upper, 20k, phone number). Of course you would use a price that makes it an appealing deal in your area.

Overall in today’s market, you should not have any problem finding a buyer for any deals. If you stick to the numbers and make sure that it’s truly a deal, it should sell itself. The real estate market is so hot right now and inventory levels of good deals are so low compared to the amount of buyers, you should be able to move anything that’s a deal or close to a deal. It will help to have a couple different buyers, so you have options. You don’t want to be stuck relying on one buyer to take everything, because that will slow you down and cut into your fee’s big time.

Having a list of cash buyers is vital to any wholesaling business; I suggest you start building your list before spending any money or time on marketing for sellers. You want to be able to take action and capitalize on any deals when you can. Having an exit strategy is the first thing you should be planning, it will also give you confidence and help you do more deals.

Best Investing,

God Bless,
Country

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