Real Estate Investor · Redondo Beach, CA · Member since 2015 · 34 posts · 3 votes
Hello All,
I have a good list of buyers who I have a good relationship with but don't have any properties to give them. They are looking in all throughout CA. How do i find the motivated sellers? I have tried a yellow letter campaign but didn't do alot because of a lack of money.
Sounds like you need to do some Guerilla Marketing! If you don't have the funds to advertise it will be more difficult but no immpossible. I have done it many times before!
I would not try to do this in the entire state to start with. Focus on one area since you need to be lazer fucussed on a limited budget. I would get business cards and door hangers to start with. Then drive the neighborhoods the investors are buying in. You can look at the cash sales by zip code to determine the best areas. While you are driving you can put door hangers on houses that look like good candidates and also talk to people and pass out business cards. You can let people know you pay for referrals too.
Since you don't have deals you can work with other wholesalers who don't have a good cash buyers list and sell their peoperties and split the profits if the will agree to this. I don't personally do this becasue I have the biggest list in my city but I have seen a lot of people doing it. The key is to market the properties at the same price they are selling them at in case the buyers are on both lists. Otherwise if they want you to marke the prices up don't do it because it could make you look bad.
Additionally, you can subscribe to a FSBO service and call them as well as FRBO's and Expired listings. Or if you have a little money you can use Slybroadcast and the phone will be ringing off the hook!
Thank you very much for the advice! I am working with a couple fellow wholesalers right now trying to close some deals. That is interesting that you say to not add my own fees because they all say to do so. I personally reel like it makes it more complicated.
As far as the FSBO website i go to them but they are picked through and it seems hard to find a good deal.
I have never looked into slybroadcast but will do so once i can afford to make that investment. I also want to get an online CRM once i close a deal.