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Updated almost 6 years ago, 01/03/2019
HOW To Find Cash Buyers
HI, I am a wholesaler in the San Diego area and I am just starting out. I am currently building up my cash buyers list as big as I can right now. I have 2 ads currently running on craigslist and I am messaging cash buyers on there. I am also scheduled to attend my first auction in January. Are there any other FREE ways that I can find cash buyers? Thank you!! (I am not marketing to any cash buyers I am just looking for new methods to get into contact with them)
-Jack
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probably one of the absolute best ways is to go to trustee sales. which are cash and carry.. and watch to see who bids then approach them.. keep in mind if they have the money to bid you get maybe one shot at them.. so be professional and know your stuff..
- Jay Hinrichs
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Originally posted by @Jack D Falkner:
HI, I am a wholesaler in the San Diego area and I am just starting out. I am currently building up my cash buyers list as big as I can right now. I have 2 ads currently running on craigslist and I am messaging cash buyers on there. I am also scheduled to attend my first auction in January. Are there any other FREE ways that I can find cash buyers? Thank you!! (I am not marketing to any cash buyers I am just looking for new methods to get into contact with them)
-Jack
I suppose the best "free" way to find cash buyers is to have all of the properties. You catch bees by having the hive, not chasing them around the yard. Thing is to get all of the properties you need to market to sellers. That is not going to be free, not by a long shot.
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Originally posted by @Account Closed:
Through BiggerPockets! BP, networking events, and other real estate meetups. I've met quite a few private lenders through different meetups. You can also ask for referrals from other people you work with.
keep in mind private lenders in La are plentiful.. when I have been a guest speaker at some of the REIAs there.. first thing I ask is who are licensed agents.. about 70% of the audience raises there hands.. Next thing I ask is how many are private lenders and about 70% raise there hands.. there is so much money floating about Socal and Bay area you cant miss it.. what you need though is to be experienced in most instances.. its not dumb money its just private.
- Jay Hinrichs
- Podcast Guest on Show #222
I have been investing in San Diego,Vista and National City.
Craigslist and Local meet ups is key. Ask lots of questions!
let me know if i can help.
@Jack D Falkner I'd recommend you get really good at researching your county records.
Keep a list of all wholesale deals other people send you, and foreclosure sales. Then go through and research who bought them. It's a lot of work, but that will give you a list of legit buyers.
Find a way to meet them, or just send them a deal if you can locate their email.
Originally posted by @Jay Hinrichs:
Originally posted by @Account Closed:
Through BiggerPockets! BP, networking events, and other real estate meetups. I've met quite a few private lenders through different meetups. You can also ask for referrals from other people you work with.
keep in mind private lenders in La are plentiful.. when I have been a guest speaker at some of the REIAs there.. first thing I ask is who are licensed agents.. about 70% of the audience raises there hands.. Next thing I ask is how many are private lenders and about 70% raise there hands.. there is so much money floating about Socal and Bay area you cant miss it.. what you need though is to be experienced in most instances.. its not dumb money its just private.
>there is so much money floating about Socal and Bay area you cant miss it.. what you need though is to be experienced in most instances.. its not dumb money its just private.
Love the "its not dumb money, its just private". Analogous to "A fool and his money are soon parted." but with an RE spin.
@Jack D Falkner
In San Diego, there is a Meet up that has as its primary purpose to connect money (private lenders) with those who seek money (investors). I am not sure if it is a Meetup group or Facebook group but it used to meet at National University in RB on the 3rd Wednesday of the month. Verify that it is still the correct meet up time/location. People with money who are looking for smart investments are often there.
The challenging part will be to find the smart investment. It will be easy to find people looking for the smart investment.
Good luck
Originally posted by @Rob Drum:
@Jack D Falkner I'd recommend you get really good at researching your county records.
Keep a list of all wholesale deals other people send you, and foreclosure sales. Then go through and research who bought them. It's a lot of work, but that will give you a list of legit buyers.
Find a way to meet them, or just send them a deal if you can locate their email.
Yep. It'd be tedious, but watching the raw County records for residential sales transactions where transfer is from individual to an LLC will give the data. Look up the LLC on Google and/or the Secretary of State website, if needed, to get name and maybe contact info. The County of SD's website lets you search by buyer name too, so you can see how much activity that buyer is doing.
Given the number of times I've been contacted, I expect there's a service out there that does at least part of the hard work for people - people who want to find me are doing so, and I expect they'd have to be pretty persistent to link it all together to find my phone number. Honestly, if they're going through that much trouble, I don't mind talking to them. :-)
That said, making a cash buyer list is easy. Getting great deals is hard.
This list is created by contacting a title rep and asking for sales data. Here’s a simple criteria.
All sales in SD County, SFR's, up to $1M purchase price.
Then filter the list alphabetically, scrub the list or any non LLC's or single time purchasers.
You now know who ACTUALLY buys, what zips they buy in and what kind of homes they buy. A buyers list based on real data.
I have this list and I’m willing to give it away because it’s not special, it’s easily created and obtained.
The other reason I give this list out is because new wholesalers calling buyers to build their list without having a deal is hands down the most annoying time waster in this business.
Building a buyers list is not important, finding deals is.
Originally posted by @Jay Hinrichs:
probably one of the absolute best ways is to go to trustee sales. which are cash and carry.. and watch to see who bids then approach them.. keep in mind if they have the money to bid you get maybe one shot at them.. so be professional and know your stuff..
Thank you for this! I will definitely check out trustee sales!!
Originally posted by @Account Closed:
Through BiggerPockets! BP, networking events, and other real estate meetups. I've met quite a few private lenders through different meetups. You can also ask for referrals from other people you work with.
Thank you for that! I will apply this and progress!
Originally posted by @Jay Hinrichs:
Originally posted by @Account Closed:
Through BiggerPockets! BP, networking events, and other real estate meetups. I've met quite a few private lenders through different meetups. You can also ask for referrals from other people you work with.
keep in mind private lenders in La are plentiful.. when I have been a guest speaker at some of the REIAs there.. first thing I ask is who are licensed agents.. about 70% of the audience raises there hands.. Next thing I ask is how many are private lenders and about 70% raise there hands.. there is so much money floating about Socal and Bay area you cant miss it.. what you need though is to be experienced in most instances.. its not dumb money its just private.
Thank you for that! I will defintely look into REIA's and attend them!
Originally posted by @Dan H.:
Originally posted by @Jay Hinrichs:
Originally posted by @Account Closed:
Through BiggerPockets! BP, networking events, and other real estate meetups. I've met quite a few private lenders through different meetups. You can also ask for referrals from other people you work with.
keep in mind private lenders in La are plentiful.. when I have been a guest speaker at some of the REIAs there.. first thing I ask is who are licensed agents.. about 70% of the audience raises there hands.. Next thing I ask is how many are private lenders and about 70% raise there hands.. there is so much money floating about Socal and Bay area you cant miss it.. what you need though is to be experienced in most instances.. its not dumb money its just private.
>there is so much money floating about Socal and Bay area you cant miss it.. what you need though is to be experienced in most instances.. its not dumb money its just private.
Love the "its not dumb money, its just private". Analogous to "A fool and his money are soon parted." but with an RE spin.
@Jack D Falkner
In San Diego, there is a Meet up that has as its primary purpose to connect money (private lenders) with those who seek money (investors). I am not sure if it is a Meetup group or Facebook group but it used to meet at National University in RB on the 3rd Wednesday of the month. Verify that it is still the correct meet up time/location. People with money who are looking for smart investments are often there.
The challenging part will be to find the smart investment. It will be easy to find people looking for the smart investment.
Good luck
Thank you for that reply, it has really helped me. I will definitely look into that group and join it!!!!
Originally posted by @Mark Doty:
You mentioned a meetup that connects private money with investors. Is it the one hosted by Darrell Kucan and the San Diego Investment Club? It looks like that one is now at the Pyramid off Miramar.
The one that I was referring to is hosted by Janice Bell. I do not know if it is part of a formal investment club. It was held in Rancho Bernardo as recently as November (I talked to her about it in early November for a meeting later in November). I do not know how the two would compare. I have not attended Janice's but have planned on attending it for maybe 4 or 5 months but I always seem to be too busy.
Maybe try both and determine which meets your needs better.
Janice has been an RE investor for quite a few years including prior to the Great Recession. She has done buy n hold and flips. I believe locally she has only done flips; her buy n holds, that I am aware of, have been outside San Diego county.