Marketing your Wholesale Deal!! Which Buyer To Choose

[Account Closed]

Ok, so too many buyers is not a problem but for the sake the topic I figured I would go with that title. Now Ive been able to build a relationship with about 8 or 9 serious cash buyers in my county. One of which has stressed that he wants to be the first person I call on the deal and I should give him 48 hrs and first right of refusal. Another one has done 4 or 5 deals and is interested in partnering on some deals. Both know that my goal is to start rehabbing so I'm interested in learning all I can about this side of the business. I believe I can bring something great to the table because I can find the deals.

Now I have a killer deal that's about to be under contract and I want to know how I should show this. I've heard different things from different people and I'd love to know what you guys on BP feel about this. I've heard of the open house style and the one by one, or do you suggest I pass it off to one of these guys to cultivate the relationship. Thanks in advance guys and gals. God bless.

[Ibrahim Hughes]

Deshone - (as they say in Maryland) "whats going on witcha?"

The way we handle new but alleged serious buyers (the ones who talk a good game but haven't been confirmed yet) is to let them know that they will be 1 of 4-5 serious buyers we call/email/text about a property. We'll do an 'open house' types style showing and give them an exact time to come see the house which is usually about 15 minutes apart (it's good for them to see other serious rehabbers looking at the property). The first one to see the property and put a written offer on it (contract and earnest money deposit) gets it. Verbal offers mean nothing because guys sometimes take their time getting a contract to you. If we close successfully with that person then perhaps I can call him/her exclusively the next time. Not call that person all the time as I do want to try and confirm 4-5 serious buyers for each property type (i.e. 2 fam in the hood, 3 fam in the hood, single family in the suburbs, mixed use property etc.).

By no means will we just call one person who we haven't even done business with yet. It takes away our options which minimizes our leverage.

Personally I'm not a big fan of email blast unless it's a property type we don't typically deal with and thus don't have a lot of buyers for.