Building a qualified cash buyers list

[Logan Williamson]

Does anyone have input as to what is the most efficient way to build a qualified cash buyers list? I currently have under 100 and would like to grow it in the near term. 

I am leveraging the help of realtors as well as utilizing a few different marketing channels. 

Looking forward to the feedback. 

Cheers, 

Logan 

[David Dey]

"you can market all over the world, but your real buyer is just a stones throw away."

This is what my mentor Walter Riddle taught me over 18 years and over a thousand deals ago.

I have tried it both ways and I can tell you that he was telling me the truth.

"What does that statement mean?" You ask.  

Well here's how I can explain it to you then I will show you how to do it practically.

Back in 2005 or 2006, I bought a 75 unit apartment building in S Florida for 10k a door.  

I had an appraisal for the property at 1.5 million as is and 2.2 fully stabilized.

So I started marketing it on Loopnet at 1.5 or 20k per door.

That first weekend, I got over 1000 responses.  (No exaggeration, I still have the list)  Guess how many of those responses turned into a sale?  Give up???

Zero!!  Not a single buyer from that list, just a bunch of tire kickers.  (Not saying there aren't buyers there, this was just my experience)

In the end, I sold the property to a guy who owned another apt building just down the street.  See what I mean, your real buyer is literally just a stone's throw away.... Almost everytime!!

When I get a deal, the first thing I do is go to my property appraiser site and pull up a radius of about a mile surrounding my property.  (Some property appraiser/assessor sites are easier to navigate than others, but every assessor has a database of every property transaction in their county and you have the right to access that list through public records.

Look up the owners that are in the radius specifically looking for corporations and trusts and obvious investors (obvious investors are the ones that own multiple properties in the same vicinity) also look for the sales that have happened within the last year and you will have the perfect buyers list.  The only reason you will find these people on your list is if they actually pulled the trigger.

I have used this method more times than I can remember and it has almost always yielded me with my wholesale buyer.

Hope this helps.