Well, I have a buyers list, now do I.....or....?

Question

Ok so heres the deal. I have a buyers list of about 30 buyers that I've accumulated from craigslist, signs, and county records. I also have a deal that I'm working on, I'm in the very early stages of getting the owner under contract. My question is basically, do I go ahead and negotiate a contact with the owner BEFORE I establish a relationship with my buyers, or should I send a letter/email/phone call out to my potential buyers before I actually get a property wrapped up? As I said, I have no contacts with any of the buyers whatsoever except for one, but this property could really be a steal if I can get it under contract.

Any insight is greatly appreciated!

Thank you ahead of time, and I apologize for any grammar mistakes, I'm typing this from my cell phone :)

Any insight is greatly appreciated!

Thank you ahead of time, and I apologize for any grammar mistakes, I'm typing this from my cell phone :)

J Scott · Answer

I'm going to suggest NOT doing this without permission from the buyer.

First, it may be illegal (have you checked to verify that the number is not on the national Do Not Call registry list?).

Second, if someone I don't know spams me with text messages, I will take their number and start adding their number to every spam phone list I know about -- they deserve the same crap they're doling out to others.

Third, if someone spams me with text messages, I will never, EVER buy a deal from them, regardless of how good the deal is.

Just one investor's opinion...

Jim Moorecash · Answer

Cant thank you all enough for your quick replies, much appreciated!  I'm going to take your advice then and see if I can't wrap this deal up tomorrow with the owner.  Then with every free second I have I'll market the living you know what out of it.

I'm full of questions since I'm still in the "crawl" phase of my investing career, so I hope to hear from all of you again! Any more advice on the topic at hand would be great as well

Mitch Stephen · Answer

I think it's smart you started by getting a list of Investor/Buyers. Now...

1.  Put their numbers in a TEXT distrubution list. 
     Much more effective than an email list. Everyone reads their text messages...almost immediately.

2. Put the details of your deal, with photos, on some type of internet accessible site. They have free ones.

3. Send the link to your property details out to your Text distribution list.

If you truly have a good deal the money will find you. You simply have to let the world know your out there with a deal. DO NOT send out skimpy deals. Real Buyers will begin to ignore your text messages or ask to be removed. Send out REAL DEALS! Leave your investors plenty of room t make some money.

After they buy a few from you...get to know them. Nest deal, ask to be a partner...you bring the deal, they bring the money!

Nick J. · Answer

If its a deal, you will easily find a buyer.

J Scott · Answer

In *theory*, you'd want a relationship with your buyers before you get a property under contract -- that way you know what your buyers are looking for and you can ensure that the properties you get under contract meet the needs of your buyers.

Now, in *reality*, most wholesalers never actually get a good deal under contract, and most serious investors don't want to bother with a wholesaler until he's proven that he can deliver decent deals.  So, you would probably find that most of these buyers won't really spend any time talking to you until you have a deal.

It's a bit of a catch-22, but if your deal is good enough, you shouldn't have any problem finding buyers -- you can just stick it on Craigslist and you'll find cash buyers who are interested.