I am a seasoned Investor of 9 years. My Investor Buyer’s list is a little under 600. I would say about 2% of them are true players.
I network at REIA meetings, call all bandit signs, ads, internet marketing, sign at house etc… but was wondering if you guys could share other methods in acquiring Buyers for rehab properties?
Re: ATTN: WHOLESALERS. I need more buyers - Posted by Chad (MD)
Posted by Chad (MD) on August 01, 2008 at 18:41:56:
Hi OJ,
You don’t necessarily need more buyers; you need buyers looking for the kinds of properties you are selling. Or you may need to look for the kinds of properties they’re seeking.
If you really have 12 serious buyers and still can’t sell your deals, your deals may not meet their criteria, or they may not be good enough deals.
One method I’ve had success with is getting other wholesalers to wholesale my deals. They find a buyer and get a finder’s fee.
Re: ATTN: WHOLESALERS. I need more buyers - Posted by Kristine-CA
Posted by Kristine-CA on August 01, 2008 at 18:34:17:
Honestly, I think there are 4 active players left in my farm area. Many
others are still waiting on the sidelines as prices fall, and fall and fall.
This is specific to my market, but those standing on the sidelines are
waiting for cash flow plays. They were buying before all this funny
business and will be buying again when the numbers are right.
I use methods similar to Steph’s: I find out who owns property in the
area and market to them. I also know who buys at foreclosure sale and
for what prices. It’s research intensive and you may need to find
someone to help you with it, but it’s worth it. Cash buyers
are…priceless. Kristine
Re: ATTN: WHOLESALERS. I need more buyers - Posted by tampasteph
Posted by tampasteph on August 01, 2008 at 18:07:42:
My favorite way to find buyers is to drive around the neighborhoods where I have deals and call every single “for rent” sign and ask the landlord if they are looking to pick up any cheap rentals in the area. It’s kind of a pain in the neck, but it is worth it.
I’ve found several buyers who have bought multiple properties from me by doing this.
I also pull the cash sales for the last 30 days off of the mls and drive by the ones that look like investor sales. 9 times out of ten, there is either a sign in the front yard (for rent or for sale), or a rehab crew on site. I just started doing this recently and already found 1 solid cash buyer after I left my biz card with his rehab crew. We closed on our first deal last week.
If you do both of these on a consistent basis, you will have yourself a nice little buyers list in a short period of time.
Re: ATTN: WHOLESALERS. I need more buyers - Posted by Brian_Wa
Posted by Brian_Wa on August 01, 2008 at 17:42:55:
if you have a list of 600 buyers and 12 are true players and yet you can’t get rid of your deals then you probably secured your deals at too high of a price. It’s that simple.