Posted by eric-fl on June 14, 2001 at 09:38:33:
DO YOU HAVE ANY REAL DEALS TO SELL OR ARE YOU JUST RUNNING BLIND ADS TRYING TO BUILD A BUYERS LIST? THIS IS A PRETTY TRANSPARENT TACTIC AND MOST FULL-TIME REHABBERS ARE TIRED OF DEALING WITH WHOLESALER WHO ARE HERE TODAY, GONE TOMMORROW. AND ISN’T IT ANNOYING WHEN PEOPLE TYPE IN ALL CAPS LIKE THIS?
SO WHERE ARE MY BUYERS?? - Posted by Nykel
Posted by Nykel on June 14, 2001 at 24:06:50:
I NEED SOME BUYERS. I STARTED “WHOLESALING” ABOUT TWO MONTHS AGO AND HAVE HAD TROUBLE BUILDING A GOOD BUYERS LIST. I HAVE A FEW PEOPLE. BUT HOW CAN I FIND THE PEOPLE WITH CASH LOOKING FOR 75% - REPAIRS. DO THEY REALLY EXIST? IF SO HOW CAN I FIND THEM. RIGHT NOW I HAVE A LIST OF WHACK BUYERS. I TRIED A FEW WAYS TO ATTRACT THEM ONE OF WHICH WAS WHAT THE ALMIGHTY “LeGrand” SAID IN HIS COURSE ABOUT PLACING AN AD THAT READ: “Handyman special, cheap, cash, 555-5555” AND I GOT 3 CALLS. ONE WAS A PERSON LOOKING TO BUY A HOME ALL CASH TO LIVE IN, AND THE OTHER TWO WHERE CRAP. CAN SOMEONE HELP ME PLEASE…THANKS.
-NYKE
Re: SO WHERE ARE MY BUYERS?? - Posted by DavidM
Posted by DavidM on June 17, 2001 at 23:20:28:
Nykel,
Unfortunately Ron LeGrand blows alot of hot air sometimes. He says in his QuickCash course that you should only need to run the “handyman special, cash, cheap” ad for 3 days. That is baloney! Among other comments that RL makes leading you to believe that everything is so easy… I am working on my first flip deal right now, and I have ran the ad in the ‘Investment Property’ section AND in the section designated to the suburb that the house is located in. I have gotten alot more response from the ad listed under the suburb. Also, I’ve let the ad run for a whole week. So far, I’ve got about 40 people on my buyers list just from running these ads. They both are going to run for two weeks. I had initially set up the one under ‘Investment Property’ to run for 4 weeks, but I may switch that and have the one under the suburb run for longer. It’s worth it to have a long list of buyers. Also, you get to know what each one likes and is looking for and you take a note of it on your sheet. It helps you know what areas to look in for future flip prospects. Many people have even gone so far as to mention to me how much money they have available whether it be a credit line or cash. It has not been unusual for someone to say that have 100 or 150K available.
My advise would be to run the ad longer. At least 2 weeks. And, try running it under ‘Investment Property’ and under the heading of some very desirable suburb in your area.
Hope this helps…
Re: SO WHERE ARE MY BUYERS?? - Posted by Alex Gurevich, TX
Posted by Alex Gurevich, TX on June 14, 2001 at 20:55:31:
There are (at least) a couple of ways to find all cash buyers who are real players. You are right, there’s a difference between people calling on the phone on ads and real players who can close.
go to the courthouse steps on the day of foreclosure auction. There may be quite a few people over there, but watch who is actully bidding repeatedly on multiple properties. Get their phone number and aks them our for a lunch. At least you’ll have an idea of who you are dealing with instead of voice on the phone.
Call title companies, talk to closing officers and ask if they know someone who is buying properties for cash. Some might. Then you’ll be calling with a referral to someone with the track record.
Call some realtors and ask around who buys rental properties for cash at discounts.
Check with your local real estate investment club. There’re usually cash buyers there too.
Basicly, think where buyers with money might pop up, and who might know them or do business with them.