Specialist · Las Cruces, NM · Member since 2009 · 557 posts · 71 votes
Everybody uses different methods and approaches to get to their goal. So how did you go about building your buyer's list? On the road to building your list which method worked out the best? Which methods didn't work out so well?
Most importantly, which method helped you weed out those who talk vs those who walk?
Real Estate Investor · St. Petersburg, FL · Member since 2008 · 190 posts · 91 votes
17y
I've found the majority of my buyers by putting out handwritten bandit signs advertising deals. I try to put out 25-50 every week. If I don't have a house to sell, I will advertise one for another wholesaler.
Do that consistently and you will always have active buyers.
Greenville, SC · Member since 2008 · 8 posts · 7 votes
17y
I have found that my local real estate club is great for finding buyers. They usually have a Yahoo message board and you will get a number of replies if you post to it. I have been wholesaling for 7 years and I always end up selling to 5-7 "players" that I have sold to before. Occasionally, you will get a new buyer, but the players are the ones with the private money and the experience. The reality of it is that you are competing with other wholesalers to bring them your deals before your competition does. I usually will call only one or two players per deal because I know what kind of houses they want. I tried running ads, but those names you get will not be looking for a house in 6 months, so don't waste your money and time.
Specialist · Las Cruces, NM · Member since 2009 · 557 posts · 71 votes
17y
Thanks for the advice David. Sounds solid. I here that consistently, it always come down to the same buyers time and time again.
As for the rest of you, don't worry about overloading the server. I think Josh has a pretty good system in place.
Feel free to give your 2 cents on the topic when you're not to busy.
BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
17y
Nick -
Definitely share any other thoughts you have on the topic with all of us, if possible. As you know, the more info we can share with one another, the better everyone in the community will be. ThanksI
Jesse - Great topic, BTW! I hope people will reveal their successes and failures with everyone!
Residential Real Estate Broker · Payson, AZ · Member since 2009 · 3k+ posts · 1k+ votes
17y
it was just oddball ways, like finding obvious remodel sites while driving through neighborhoods and finding out if an investor is attached and who the investor is, contacting HML's and asking them to connect you with their most active clients.
also I mentioned different types of buyers list, having your rehabbers on a separate list than your landlords etc....
Real Estate Investor · North Central Arkansas · Member since 2009 · 509 posts · 178 votes
17y
Jesse,
My personal favorite is to WALK through a neighborhood instead of drive. I work a tight area in my town and I know it very well, but I learned things while walking that I never would have been able to focus on while driving because of cars, people etc.
I'll find homes that we're sold for CHEAP weather they we're foreclosed or just discounted and check on them until I find a Rehab crew, if I see the guys working ill walk up and talk to them, tell them what I do and get their info.
Finding people actively flipping a house in the area could be a great way to find a buyer.
Real Estate Investor · North Central Arkansas · Member since 2009 · 509 posts · 178 votes
17y
Forgot to mention that for me personally Section 8 Landlords have not been very promising. I have 10 or so on my buyers list but most of them don't seem very serious. Out of those 10 there is only one that I know we'll do a deal with eventually, the others would be a surprise.
Residential Real Estate Broker · Payson, AZ · Member since 2009 · 3k+ posts · 1k+ votes
17y
Originally posted by Jeff And Cheray Warner:
Forgot to mention that for me personally Section 8 Landlords have not been very promising.
Jeff
That's why I've always been a fan of not only "qualifying" the buyers but while I'm adding to the list I also subtract the tire kickers from the list as well. I believe in quality not quantity.
I'm certainly not opposed to "walking" a neighborhood if that's your thing, but I think the biggest problem is getting new(er) investors to take some action. They can learn all they about building a buyers list but unless they take the action required to actually build that list they'll be stuck at that point forever.
Real Estate Investor · ten mile, TN · Member since 2009 · 1k+ posts · 374 votes
17y
My buyers list is based upon searching the counties records for local investors that have repeatedly shown up as buying houses.
Comparing that purchse price to the comps in the area shows me what kind of deal that that "investor" is looking for.
It often will also give me the address of that investor by noting where the recorded documents are sent to as compared to the property address. This will often also give you out of area investors that are interested in your area.
You then can contact them by a personal letter with your deals that they would consider good deals and have a much better probability of closing a deal quicker.
Specialist · Las Cruces, NM · Member since 2009 · 557 posts · 71 votes
17y
Nick, your "how to find buyer's" section in your e-book had many useful techniques I had never heard of. Can't wait for the official release.
Thanks for the compliment Josh. Just trying to do my part. I hope we can all learn a bit from each other in this thread. I've learned so much on this site all ready. I plan to contribute and learn much more in the future.
As for everyone else......great ideas. These will definately be part of my next guru seminar. Nah....J/K
Real Estate Investor · St. Petersburg, FL · Member since 2008 · 190 posts · 91 votes
17y
I've found the majority of my buyers by putting out handwritten bandit signs advertising deals. I try to put out 25-50 every week. If I don't have a house to sell, I will advertise one for another wholesaler.
Do that consistently and you will always have active buyers.
Go to your local courthouse and look up the records for all homes purchased in the past XXXX years. It is quite a task. But by doing this research you will begin to notice a few things.
All county records are public records, to an extent, so they can not stop you from doing so. But if you want a copy of anything they can charge you for the paper, ect. so take stuff with you to make your list on.
Real Estate Investor · Houston, TX · Member since 2009 · 10 posts · 9 votes
17y
I have a web site that I post my deals on. Interested buyers can subscribe to my list if they want to be alerted to new deals. Whenever I want to beef up my list I just post property ads to craigslist and backpage leading back to my website.
This has worked well for me. I do have my usual suspects that are repeat buyers but I also get folks that I've never met that have come out of nowhere to close with cash very fast.
Rental Property Investor · Woodbridge, VA · Member since 2008 · 543 posts · 121 votes
17y
A whosaler really gets their value from getting down in the weeds. You make your money from you contacts (buyers and sellers.) I know a lot of whosalers call me based on my adds that I buy houses. I would look at craigslist, the newsparper classifieds and look for those I buy houses signs and give them a call to see if they're worth adding to your buyers list. Just be careful because many of these people are also wholsalers. You can also contact Hard Money lenders. Many of them also buy houses and if not they might refer you to some of their best investors.
Involved In Real Estate · Milwaukee, WI · Member since 2009 · 124 posts · 7 votes
13y
Originally posted by Shannon R:
You can try putting a few hand-made signs out that say "handyman special $xx,xxx cash" with your phone number.
I got numerous calls from potenial cash investors that way!
You have to be careful with this; as some areas, municipalities, and towns have laws against these. Some police will remove them, some will fine you, etc. FIND OUT FIRST!!
As a Realtor, we have even gotten our "Open House" signs taken-and they're only there for a couple hours!!
Shelby, NC · Member since 2016 · 34 posts · 5 votes
10y
My wife and I have just starting the wholesaling process. I had a friend who has made several deals, and I'm hoping we can also make deals. What would be the best advice you could give us while starting to wholesale?
Flipper/Rehabber · San Antonio, TX · Member since 2011 · 28 posts · 5 votes
9y
I just go to realestate investor association meetings. Try to find a few cash buyers and weed out the ones that are not serious. Another way I build my buyers list is through one of my websites. Wholesale Properties