What is the best way to attract cash buyers and or obtain investor/cash buyers lists

Question

What is the best way that you have found to attract cash buyers and or obtain investor/cash buyers lists?

Account Closed · Answer

You are welcome Daniel. I have sent 25 contact requests this month, so can't send a colleague request to you. Please feel free to do so and we will keep in touch. I am starting out local, but eventually will scale it and Florida is one of my future target areas. If you ever need any information or suggestion about MD market or look for buyers here please let me know.

P.S. There are some hatemongers that don't have a clue about law and this line of business but deliberately spread false information about wholesaling on BP to intimidate and mislead. Steer clear and ignore them. Listen to your guts, read, watch, connect and network with people and you will learn as you go.

Account Closed · Answer

It's marketing, like everything else. But unlike the sellers, you may find them through direct networking. It doesn't cost anything to attend RE meeting, introduce yourself and get contact of people who invest in properties. You may also check out Chris Piper's thread (I posted a link to it in my thread (https://www.biggerpockets.com/forums/93/topics/1197244-how-to-do-wholesaling-right-in-maryland-east-coast-and-nationwide) . He suggests posting ghost ads for properties and whenever potential buyers call get their information and add to your list. I haven't done that because , I don't want to make people think I advertise non-existing deals, but he says he did it and it worked for him. I personally think networking is your best route. You need few but serious buyers, a list of secondary buyers in case you can't liquidate property right away through your main contacts.

Nelisa Lee · Answer

We've found that some of the properties in rural areas are more challenging to find buyers through the system. But, otherwise it's great! The functionality in it is pretty robust. I'd say it's worth it if you have enough deals to justify the price.

Nelisa Lee · Answer

We've used Investorlift to help find buyers.

Daniel Dahan · Answer

Thanks for the tips Eric, super insightful and will definitely implement. If you are ever in south florida lets connect!

Hector Perez · Answer

Best way is to network with other investors, that way you can get the information of what they need.

You can also Google for cash buyers in the area; some may be wholesalers, and others may be real cash buyers, but you have to filter the information.

Facebook Groups is another way

Then you can pull a list of from the MLS of transactions that closed cash and reach out to them

The best buyers are the ones you talk to directly.

If you get a list call each buyer and find out what they need

Account Closed · Answer

Remember, transparency with sellers has nothing to do with finding cash buyers, so you can pretty much ignore "transparency with sellers", "be Jesus to sellers" , "rip your heart open and hand it to sellers" mantra when you are looking for cash buyers. The insincere narrative popular among certain podcasters is irrelevant to the question you have asked. It's a PR gimmick and aimed at target audience who would pay to hear what they like. I would much rather receive truthful  advise from honest and direct people who don't feed me BS, even if what they say didn't excite my feelings. As a grown up I learned to take life as is, not live in a fantasy world and ,above all, value the TRUTH, no matter how bitter it is.

P.S. Speaking of transparency, transparency, honesty and integrity are business tools, they give you a competitive leverage/advantage and also protect your bottom line.

You should be transparent will sellers because doing otherwise could be illegal (if you have insane person sign a contract to sell a house for $1, or mislead and lie to seller about their property value in order get a contract you could be liable for fraud. Fraud is a crime, they are consequences for committing it and it's not a question of IF, but WHEN. As you see, it's just not profitable for business to commit crimes (unless your daddy is Go-Brandon or you are Boeing's CEO, of course) .

You should be transparent and honest with buyers because most (if not all) of them are just as smart or smarter than you. If you inflate ARV, diminish repair costs and lie about the property value it won't close a deal for you, It will just tarnish your reputation and make them shun you next time. They probably have their teams and people they will reach out to , to analyze the property/deal and decide for themselves whether it's worth to buy or not. So, it's bad business to lie and shoot yourself on your foot. It's good to build a reputation of reliable person who stands by what they say and does his best to deliver the best product for the buck.

Never forget, this is a for profit business. You are not running a Church or non-profit organization. Moreover , be careful about going too far above and beyond and trying super hard to help sellers. In certain instances ( since your help as far as your solutions go is considered consulting), you could cross a red line and end up violating the law. If you consult them on matters that you are not competent in (like giving expert valuation of their property's worth in the market) , you could be in trouble. You should NOT "help" the seller in certain circumstances, no matter how pure, sincere and full of Godly intentions you are, if they are in foreclosure or pre-foreclosure and live in the state of MD. We have laws that state you can't do it. Only licensed REA can do that. If you do such things you will expose yourself to serious liability.

To sum it all up: your top priority is to serve your interests and earn profit, therefore you should do everything you can to minimize risks and maximize profits. Honesty and transparency is simply a profitable, long term strategy to build sustainable source of income and not end up with huge fines or, worst of all, in jail.

Daniel Dahan · Answer

Hi Nelisa! I have heard good things, how do you like it so far worth it ? Are you able to consistently sell deals through it ? Let me know your thoughts!

Daniel Dahan · Answer

Hi Jonathan, thanks for the tips and info! Do have currently some buyers, and some properties under contract. Is there a website or platform you have used before that you recommend ?

Jonathan Greene · Answer

To find cash buyers through marketing and networking, you need properties. So, the best way to build a list of cash buyers is to become an expert at acquisition and transparency. The more transparent you are with the seller, the easier the deal will be when you bring that cash buyer. You have to prove yourself as someone who can source for a real cash buyer to trust you over time.

What is the best way to attract cash buyers and or obtain investor/cash buyers lists

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