Creative (Easy) Ways to Build Your Cash Buyer’s List

creativeWhether you’re a rehabber or wholesaler, you need a comprehensive cash buyer’s list. I’m talking about a list of investors you can sell properties to, those who can put some serious cash in your pockets.

So what’s the best way to create a cash buyer’s list?

Truth be told, there are lots of fast and easy methods for finding active, local buyers right in your backyard (well, not literally because that would be super creepy).

You know I’ve got many helpful thoughts to share with you and so does my long-time pal, the investor of awesomeness himself, the one and only JP Moses.

So without further ado, let the banter begin!

Patrick RoundPatrick’s Perspective

There’s this little obscure website called Google. Maybe you’ve heard of it. (Insert charming, sarcastic smirk). Your first simple step to building a cash buyer’s list is to get on Google and search “sell homes fast” in the city of your choice.

This will pull up a boatload of organic results, which you’ll find under the paid listings. You’ll find local investor sites there too, click on those, search for the “Contact Us” page and start reaching out to those local investors. I’ll bet most of the time, those contacts will be active investors looking for great deals. This is a simple way to begin building a foundation for your cash buyer’s list.

My second suggestion is to simply keep your eyes open. Be aware of the marketing that is all around you. Keep an eye out for bandit signs and other forms of advertisements. What about the people you come in contact with daily? Some of them may be facing foreclosure, so pay attention, strike up conversations and ask leading questions. You may get lucky.

jpWhat JP has to Say

All good stuff, my friend, as always. Speaking of the people around you… ask your Realtor friends to access the MLS for you (if you can’t access it). In most cases, you can search for cash transactions during a specified period of time. Research those properties, find out who owns the properties (through tax records) and then reach out. Better yet, contact the Realtors involved in the transactions. You KNOW they will want the 411 on your deals, especially your wholesale deals (because there can be big commissions in it for them).

Here’s another good one…

I built my first cash buyer’s list, actually, by placing a ghost ad in the Sunday paper. In case you’re not familiar, a ghost ad is a fake property that will get investors salivating and wanting to know more.

And man… it works!

oneIf you’re going to create a ghost ad be sure to include all the property specs and attention-getters like “motivated seller must sell!” You can do the same thing on Craigslist. When investors call, you’ll say something like, ‘Oh man, I don’t have that deal, but let’s talk about other opportunities.’ Dangle the bait, establish a rapport and BAM! You’ve got contacts to add to your cash buyer’s list.

I’ll leave you guys with one final thought…

You don’t have to have a huge pool of buyers to be legit or successful. I’ve done lots of deals with the same buyer. I learned over time who he was and what he wanted, so I was able to match him up time and again with properties that worked for him. Obviously, the more dependable and professional buyers you have, the better. But working with the same reliable cash buyer can have major benefits as well.

Can you say cha-ching?

Penny for Your Thoughts

Have you had success building your cash buyer’s list another way? Tell us how below.

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