Should I build a Buyers List First or is it illegal?

[Shakia Morrison]

What is your take on having a buyers list? I am told that it is an illegal method to build a list before you have a contract but am confused because if you begin to build a list after your first contract, would you not continue to network with the same buyers. I know you will and am wondering in that case....having those buyers before your second deal, what makes it illegal. I plan on wholesaling but I do want to invest in commercial rental property as I am able and I want to be righteous in all my dealings from the start of my career. Can someone explain this further?

[Lydia R.]

@Shakia Morrison Someone has seriously misled you! There is nothing illegal about having/building a buyers list. Before the deal, after the deal is under contract makes no difference. However my suggestion to newbies is to always be workin on both, but you should spend the majority of your time trying to find sellers. If you showed up to Kroger and the shelves were empty you would be pissed off right? Finding sellers also takes a lot more effort than you think it does. You are going to go on a ton of appointments to see houses where the owners want retail even though the house needs 50k+ in rehab. Find your sellers first and then start looking for your buyers. BP has a marketplace that you can post your deals when you find them. So go find them! Good luck!