How to effectively build a buyers list

[Tiffany T.]

As a newbie, I learned a lot from my first deal and now I am eagerly to know how to effectively build a buyers list as I think this is a primary thing to find out as a real estate investor. Need any mentor, investor or guru to contribute their successful experience would be highly appreciated. :D

[Justin S.]

Go to the following websites:

www.priorityposting.com, http://lpsasap.com/, and recontrust.com.

Create a report of properties that sold at auction to third parties within the last seven days for your area. Drive each property, there will be a painter, plumber, owner, landscaper, sign in the front yard, etc for each property. Ask for the homeowners number and give them a call. Auction buyers are cash buyers who do not mess around, and that is who you want.

For each contractor you meet, ask for a business card and their pricing. Now you've got your contractors when you do your flips.

I literally did this yesterday and met a couple who move 100 properties a year and their painter beat my current painter by $0.20/sq.ft.

Good luck.