What is the most effective and efficient way to find a Cash Buyers ?

Question

I am in the Florida Market and market on various platforms. I am collecting names and numbers however, I am unclear if I am collecting true investors. As real estate professionals, we all hear the same hesitations when it comes to investing " in this market". How do you vet the investor from the window shoppers ?

Considering starting a network of investors in my area. Any insights or advice is welcomed and greatly appreciated!

Tyler Gibson · Answer

There are investor networks here in the area already. Finding investors is easy finding deals is more of a trick. I would say that if you find a great deal, it should be easy to find an investor. Market the deal and ask for proof of funds.

Bob Stevens · Answer

I am contacted daily, " I'm a cash buyer send me you deals " UMM NO. I do not just send out my properties so they can be blasted out. I have had people try and sell me my own properties, yes MY OWN. I ask, ok great, lets do a 5 min CC, so I can understand ( I can tell in under 20 seconds if they are real) what you are wanting Oh but before we get on a call send me your bank statement with not less than 100kish. That usually weeds out the wanna bs .

All the best

Peter Mckernan · Answer

Facebook groups, buying a list, checking properties that have been solid with title searches to see if they are flips pulling that data calling those people, checking title for someone that owns a lot of rentals and calling those people (hire a VA to help you with the last two), and networking at meet ups.

Eliott Elias · Answer

Proof of funds and previous deals they have done.

Cole Maurer · Answer

Connect with them and ask them qualifying questions based on the type of investments they’re looking for. Collect their info, stay in touch and eventually bring them a deal. You’ll find out quickly who’s ready and who’s not. However that doesn’t mean they aren’t real. Money could be tied up or they are aspiring. But as someone else mentioned, they may have someone they know. That aspiring investor that may not seem real could end having the grit and hustle to get it done too though. Find the deals and the buyers will come. Always collect proof of funds for a seriously interested party, their word isn’t enough.

Good luck!

Bryant Brislin · Answer

After awhile, you start to get a pretty good sense of who a real buyer is as far as the questions they ask. I don't know a short answer to your question, but basically you can tell who's real and who is not, pretty quickly.

Paul De Luca · Answer

@Rachel Pruitt

I think the best way is probably to meet them at real estate investing meetups. That way you know everyone there is a real estate investor or at least an aspiring one. In particular you'll want to target flippers and agents that work with a lot of investors. You're going to have to talk to a lot of people because most people are NOT serious buyers. And while they may not be a serious buyer today, sometime in the future they may be or they may know someone that IS a serious buyer.

Lydia R. · Answer

Some of this will depend on where you are meeting these potential buyers. I used to go to the foreclosure auction in my area and network with buyers there. If they are bidding on and buying properties at the auction, they are real buyers. Another great strategy for finding buyers is to look for flipped homes that are currently for sale. The seller is going to be an investor, and can be added to your buyers list with no vetting required. Lastly, hard money lenders have a roster filled with investors they have lent money to for projects. Any name on this list will require minimal vetting.

For buyers that come from any online source (Facebook, BP, Craigslist, social media) ask 3 questions

1. What type of financing will you be using and can you provide a POF if/when requested?

2. Will you have a problem with $X of non refundable earnest money?

3. What is the address of your last acquisition?

Greg Roberts · Answer

Did you have any luck? I am in the Orlando Area as well just found this forum.

Rachel Pruitt · Answer

Thank you !

What is the most effective and efficient way to find a Cash Buyers ?

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