How do you get lists of recent cash buyers in an area?

Question

Other than asking an agent for recent cash sales, how would one go about doing this? Basically wanting to find cash buyers in order to contact them directly.

I have a property I want to sell but given the possible low sale price of the property, I doubt any agent would be interested in being the listing agent.

Carlos Altamirano · Answer

Networking is one of the best ways to find cash buyers. Sure, you can post ads on CL, search online, but ultimately you'll want to build a relationship with your buyers, Understand what they want and are looking for and then go out into the market and find that.

Lee Smith · Answer

@Patrick Boutin I am in Indy, and I work with investors... Shoot me your deal info and I might have a buyer interested.. Another idea would be to search the surrounding area tax records and look for someone who owns multiple properties around your subject property. Then market to that person(s).... I can probably hook you up with a tax list for a nominal fee as well...

Lamont Flagg · Answer

Wassup Patrick and everybody. One way I use to find some of the cash buyers in my market that is buying is that you can go to a website called www.findcompsnow.com, create a free account, type in your property address (your personal address or the property you're looking to wholesale), after you type the property address in, its a section that says cash buyers and you can look them up in your county assessor website and mail them letters or postcards. Check it out!

Rob Newkirk · Answer

MIBOR does not allow non-members to list, though as @Percy N. mentioned, Zillow is free and a great place to start.  There are several brokers in our area, myself included, who are used to working in the investment property price points, so smaller deals don't scare us off.  Even for experienced agents, is a good way to network and meet new clients who are looking to buy these kinds of assets.

The Flat Fee option is also a good choice to minimize expense. Though look out for add-on charges for contract docs, etc.

Percy N. · Answer

@Patrick Boutin if you google Flat Fee MLS and Indiana or the county you are interested, you get a ton of results. One of them for example is http://mlsmyhome.com/

As mentioned, Zillow is free and you can start there for a week or so.

Finding LLCs can be done via the country recorder of deeds. Most of them have a website which allows you to search by name. Just type in LLC for the lastname and see what you get.

Demetrius LaMarr · Answer

I'm not sure if MIBOR will allow you list properties on the MLS without an agent.  They are the MLS that handles the area that you are looking to market.  The sunday newspaper lists real estate transactions.  You can start there, it may help you.

Patrick Boutin · Answer

@Angie Williams, the property is not in California but in Indiana so it is hard for me to find those local investors. I have looked at meetup.com for local REIAs but couldn't find any in that county (Hancock county) so it seems that I will have to look closer to Indianapolis..

How would one research and find what investment companies are in that area? Just Google? Or are there listings somewhere with that information?

As for those sold properties which may have the information of the buyer in order to see if they are investors or companies.. how do I get that information? I would think I would need to ask this from an agent. Or is that not correct?

And yes, I understand what you mean about the agent's commission, but I was thinking I would need their help knowing I wasn't in the area and couldn't really do as much foot work as I would wish.

@Percy N., how do I list the property on the MLS without an agent? This would be for the Indiana MLS and Indianapolis and Hancock counties to be more specific.

I will look into doing this on Zillow as you suggest and yes I had considered the BP marketplace as well.

How would you go about finding local property sales to LLCs? Wouldn't that be the information provided by an agent? My original question had this in mind, as I wanted to be able to know those properties purchased for cash (most likely by investors) so I would then look them up and see if I could reach out to them personally.

Angie Williams · Answer

I would think your best bet would primarily be locating investors. Investors are more prone to pay cash for properties overall, as an investor myself, I mainly only pay cash for my properties. Perhaps research all of your local investors and investment companies in your area and neighboring areas. Also, online searches will provide many investors, list an ad "calling all investors" on free websites, even look at other properties sold around the area and the name of the investor or company will usually be public info in order for you to pitch this property. Just a thought.

I am an agent also, I don't use my license often and I am not active in a specific office. I noticed you stated:

Remember, no matter how low the sale price is their will always be an agent willing to take a listing, that's what we are trained to do. Especially, new agents or agents with slow sales. More importantly why would you want an agent? I wouldnt pay the commission seeing the price of the home is already so low. Just some foot work and research and I'm sure if the deal is a good one most investors would consider it. This is my opinion, hope I helped and wish you were a little  closer to New York for me to take a look at the property lol.