I've Built Some MONSTER Buyer's Lists Over the Past 5 Years.
There are a few schools of though surrounding Cash Buyers-one being to find the Buyers first, then go find the deal. And the second, the path I've taken to succeed, was finding the deals first, then using my deal as the "bait"-my reason-to attract the buyers. I've found that buyers are busy and they don't have a ton of time to talk on the phone-unless they're talking about their next deal. Then they open their arms and welcome the interruption because they're about to make money.
First, find an email provider. I started with Mailchimp because it's free for a list size of less than 2,000. You can build an insanely profitable real estate business with a list of 2,000 or less. Once you've set up your buyer's list email provider account, it's time to start finding buyers.
Here's a few of the systems I've used for finding buyers.
1. Direct Mail-Using the "Find Cash Buyers Now" program, or using an MLS public record search (solid agents can help you with this) I researched all cash sales in a specific price point and neighborhood and mailed them a letter. I chose the neighborhood because I happened to have a deal for sale there.
2. Craigslist-WARNING: Tons of Wholesalers masquerading as Cash Buyers on Craigslist. But in the chaos are REAL Cash Buyers too. I have found that the best way to attract real buyers here is to have deals For Sale.
You can also turn off the Craigslist relay setting and reveal your email address-along with the person's responding to your ad-and collect email address as people reply to your ad. Be wary of using your primary email address for this secondary Craigslist tactic-others will use this method to build their spam lists also.
3. Networking-I've met many buyers over the years ( and still do) at face to face networking events. The best way to go to a networking event is to be the main presenter there-or sponsor a table. But if you're just getting started, showing up with business cards will get the job done.
4. Start a Real Estate Investor Association-You can start your own networking event. We have done this in several cities using Meetup.com. The cool thing about Meetup is that the website's algorithm suggests your group to other buyers you normally wouldn't come across-along with many other very interesting & valuable people in your local area. Being the organizer of the Meetup allows you to email the group members directly through their site.
You do not get to scrape members email addresses-so you are building two separate email lists and must forward emails separately through two systems.
5. Bigger Pockets-Bigger Pockets has been a source of several of my business partners over the years and is one of my favorite places to network online. For me, the best part about the BP Buyers/members is the fact that they are always in "Learn Mode". They are always open to new ideas and generally know a bit more than many of the cash buyers from other sources-for example, those buyers responding to my direct mail campaigns.
6. Do More Deals-The more deals you do, the more buyers you'll attract. I've always said that as a wholesaler & rehabber, the KEY TO SUCCESS is developing a steady pipeline of DEAL FLOW. You need opportunities crossing your desk. Those opportunities will help you develop your buyers list over time.
My final thought about building a buyers list is getting started, as in ACTUALLY DOING IT. I was in the business for 5 years before I got deadly serious about building my list. I was successful enough before the list, but WOW, after I developed systems for exploding my list, I discovered I could sell properties quickly and for more money than before.
So you might as well get started right now!!
