How to find real interested cash buyers?

Question

I want to know how to find cash buyers? i just started wholesaling and am afraid to get a property under contract and then waste it because i couldn't get a cash buyer on time. I got properties under contract before so am confident that this is not going to be a problem. So i want to know how to actually get cash buyers who are interested and serious so i could waste the least amount of time possible?

Drew Sygit · Answer

@Mostafa Khalifa something to think about - if I brought you a deal at 50% below the market value, would you be interested in buyng it?

Of course you would!

So, if you get an actual deal under contract, why are you worried about finding a buyer?

Put it on Facebook Marketplace, here on BP Classifieds, whatever other social media platforms you're on, etc.

Worse-case, put it on the MLS (a problem if you are NOT an agent, but then find one to work with!).

Every wholesale trainer tells their newbies to go build a buyers list because:

1) They also tell you to hit up this list for potential listings

2) You need someone to market marginal deals to & hope someone's desperate/ignorant enough to buy them

Know this, at least 80% of the offerings from wholesalers are NOT deals an investor should buy. Many, are stacked two or three deep with various newbie wholesalers all trying to get a piece of the action.

Find ACTUAL deals, advertise them properly and the buyers will find you!

Natalie Allie · Answer

Hey Mostafa, there are plenty of investors who will buy a property for cash in Detroit. It sounds like someone may have backed out due to inspection or financing. My suggestion would be to require someone to show proof of funds before viewing the property and make sure you are marketing the property "as is," meaning if something comes up on the inspection, they will not back out. Hope this helps! -Natalie

Travis Biziorek · Answer

Hey Mostafa, I agree with Drew.

Worry about the deal and you won't have an issue finding a buyer. For some perspective, I do 100+ deals in Detroit per year right now so feel free to send me what you have when you have it.

That said, the problem with most wholesalers is they don't actually know what a good deal looks like. They are so desperate to just get something under contract that they don't property negotiate and/or they don't actually understand the numbers.

Again, if you take the time to be somewhat educated and actually get strong deals, it won't be an issue finding a buyer.

Cameron Porter · Answer

I have cash buyers if you have deals in the detroit area

Natalie Allie · Answer

Not a problem and good luck! It takes a little hustle, but you can do it. :)

Natalie Allie · Answer

You need to get in touch with real estate broker(s) who specializes in off market deals. They typically have a book of ready investors who specifically look for off market deals and can send out the addresses to them to gauge interest. If you do not have a real estate license it is a little more difficult to get in touch with these buyers as it takes time to build relationships with these types of investors. I would also recommend you start attending real estate investor meet ups or become part of networking groups where you are located. Also, keep in mind there are plenty of wholesalers out there that have given the concept a bad name unfortunately because wholesaling is technically not regulated like licensed agent/broker transactions are and people are aware of that, so trust is essential when you are looking to wholesale. -Natalie

Shawn Ackerman · Answer

@Mostafa Khalifa you are making this bigger than it needs to be man. Reverse engineer a motivated sellers list and simply look for people that bought properties cash in the area of where the property you have under contract is.

We still use Prop Stream to find our cash buyers! let me know if you need a trial link or further clarification on how to execute. I can show you a deal, closing statement and the list we found the buyer from.

Here is a piece of advice for you. If you find a "DEAL" the buyers will come. FIND DEALS, FIND DEALS, FIND DEALS!!!

Don't over think it. GO!

Cameron Porter · Answer

What’s a good email for you

Mostafa Khalifa · Answer

That would be nice if you would like to connect and we can work something out that would be amazing.

Mostafa Khalifa · Answer

What you are saying makes alot of sense. My problem that it makes too much sense. I have 3 years worth of experience in lead generation and acquisition management. So getting a good contract is no worries. But it seems too good to be true. Its not going to he easy to get a property at 50% ARV with my fee included. But am just afraid to have a good opportunity in hand i see it go to waste. But what you say definitely make sense.

How to find real interested cash buyers?

How to find real interested cash buyers?

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