Core 3 » Buyers on Demand

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Core Training 3 » Buyers on Demand

owner-ready-to-croakWeek three, coming at ya!

So let’s talk about buyers. And finding them. And selling your houses to them.

And not just any old buyers… the good ones, who can close quickly and plop down a pile of cash for the deals you’ll be finding as you apply your Investor Profits on Demand training.

If your business or any part of it involves wholesaling houses, then learning how to build a solid cash buyers list is like REI 101, right? It’s a fundamental core essential of the biz. But not all buyers are created equal…

And while there are a gaggle of different ways you could approach building your cash buyers list (each has it’s merits) in this session we want to drill in and focus expressly on revealing how to build your cash buyers list through “DBP” (or Database Plucking, as you now know it). Do it right, and you’ll find all the buyers you’ll ever need.

With this training, we’ll discuss:

  • The pros and cons of “Quantity” vs. “Quality” in a buyers list
  • Exactly how to use public records to pinpoint specific, recently active cash buyers in your area
  • The biggest myths of cash buyers list building
  • Best practices for first contact with new cash buyers
  • Role playing, plus a walk-through of your cash buyer form
  • And more…

Bottom line: This one’s all about helping you tap into the local cash buyer vein, and demonstrating exactly how to connect, build rapport and make them hungry for your deals.

Watch and Enjoy…

Resources Mentioned in This Session…

Questions? Comments? Chime in below…

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Whoa there, partner…turns out this training isn’t quite ready for you yet. But our little elves are working on it, and as soon as it’s posted, we’ll send you an email (how nice of us!) and then it’ll magically appear here for you. Patience, Grasshopper…we’re eating the elephant one bite at a time. 🙂

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61 Responses to “Core 3 » Buyers on Demand”

  1. Houston Lewis Reply

    good ideals to build a cash buyers list fast.

  2. Houston Lewis Reply

    good ideals to build a cash buyers list fast.

  3. Fredrick Austin Reply

    Great information on building a cash buyers list, thanks JP and Patrick!!

  4. LORI MCLANE Reply

    Thanks for your insightful tips on real estate investing… Will a buyer still be interested after you just talked with he/she and you have found a property which he/she is said they are looking for…. now you want to call him tomorrow because you have the property you think he/she wants….. Is that appropriate or give them 2 or3 days…..

    • Patrick Riddle Reply

      Hey Lori, if you think you’ve found a property they would be interested, go ahead and contact them the next day.

      – Patrick

  5. Leon Kouame Reply

    I really enjoyed this part of finding cash buyers using google, great show, hope to learn more from you guys, thanks.

  6. Cecil Ohnson Reply

    Lovely training guys. I’m new at this and I’m highly excited to lean more. Thanx!

    • Patrick Riddle Reply

      Glad you’re loving the training Cecil! 🙂

      – Patrick

  7. Gregory King Reply

    Thanks and you guys were awesome and you both did a job role playing with the cold call

    • Patrick Riddle Reply

      Glad you enjoyed it Gregory!

      – Patrick

      • Aaron Pilot Reply

        awesome i am glad to be working with you guys your training has been very helpful thanks

  8. Jordan Solomon Reply

    Just wondering — when you do a Google search for any of those phrases, aren’t you likely to come across other wholesalers as well instead of just rehabbers, landlords, etc.? That is, don’t they target those keyphrases as well?

    • Patrick Riddle Reply

      Hey Jordan, good question…

      Yes, in the search results, you’ll find other investors as well (rehabbers, landlords, etc). They are definitely good potential team members to network with as well.

      – Patrick

  9. John Bartel Reply

    Unable to play Buyers on demand. Used 2 different computers.

    • Patrick Riddle Reply

      Hey John, sorry about that. We had an issue temporarily with our hosting company. Please try to view again and let us know if you’re still having trouble.

      If need be, we can send you a direct link to the video on our server.

      – Patrick

  10. Larry Waltz Reply

    Very good stuff! This whole program is exactly what I need to do some deals. Arigato! Hsieh Hsieh!

    • Justin Wilmot Reply

      Love it Larry! Time to start flipping! Build those buyers lists and start getting deals done.

      • Larry Waltz Reply

        Thanks Justin; Yellow letters (300 of them) go out this week. Should be fun. Larry

        • Justin Wilmot Reply

          Way to get out there and take massive action Larry!

          Want results…do what Larry does! Just take action NOW. Good work buddy.

  11. Lisa Meinero Reply

    Is it allowable to list a property on MLS, after a seller accepts your offer, before you actually close?

    • Patrick Riddle Reply

      Hey Lisa, you can’t just have a contract and list a property on MLS. You have to own it.

      – Patrick

  12. Jacob Carita Reply

    Great lesson today. The big thing that I need to do is start get the buyer list together so this will make so much easier to get the job done. This is unbelievable that all your contacts are right at your reach. This was great…

    • Patrick Riddle Reply

      Hey Jacob, glad to hear you enjoyed the lesson 🙂

      – Patrick

  13. Kendall Vaughn Reply

    What about the SEC regulations regarding contacting the buyers or lenders

    • Patrick Riddle Reply

      Hey Kendall, there aren’t any SEC regulations that pertain to contacting potential buyers. If you’re looking to borrow private money though, depending on your biz model, your area, how you plan on structuring the loans, etc, we recommend speaking to an SEC attorney who can advise you best.

      – Patrick

  14. Michael Campbell Reply

    I have an out of state owner that is willing to accept my offer. The only thing is that he wants a $500 dollar earnest money deposit. How do I ensure that I get that money back if I can’t find a buyer?

    • One idea for you here, Michael, is to explain to the owner that normally either a Realtor or Title Company holds earnest money deposits in escrow, and since neither of you is involving a Realtor, you’ll be happy to have your title company (or closing attorney) hold the earnest money in escrow for the property.

      Another options is to simply explain that with the number of properties your company buys, your company policy (and practicality) won’t let you put hundreds of dollars down on every property you buy. Basically you could just hold your ground… it might be a deal killer or it might not. It’s up to you whether you want to take that risk… but in my experiences over the years, I’ve never given an individual seller an EMD, and they’ve never balked at it.

      However plan A (give it to your closer) is a viable option if he holds firm on needing an EMD from you.

    • Paul Wingfield Reply

      Michael,

      Another option that I use, is put a 10 day inspection period that protects your earnest deposit. Many times the seller understands that you have to spec out the property and make sure there are no major violations on the property. If the deal is great, you will not have any problem finding a cash buyer within 10 days. Then have your cash buyer put down $5,000.

      • Patrick Riddle Reply

        Hey Paul, thanks for the suggestion for Michael. Love seeing fellow members helping each other out.

        – Patrick

  15. Michael Campbell Reply

    What do you do if there are tenants in the house but the seller wants to sell. How do you handle that if you think your buyer will not want tenants in there?

    • Patrick Riddle Reply

      Hey Michael, good question.

      We handle that kind of situation on a deal by deal basis…. but first, you’ll want to check out the lease with the tenants.

      If the buyer really wants the property, he/she may either have to continue renting through the remainder of the lease or work something out with the tenants to move out.

      … or you may have to find a buyer who is ok with it being tenant occupied.

      Patrick

      • Michael Campbell Reply

        ok great
        thanks so much patrick!

  16. Theresa Cashe Reply

    Great job. I did sign up previously with another program for cash buyers and private lenders nationwide. Cash Buyers and private lenders are added daily to the list. I will also use the strategies you shared to contact cash buyers. Thank you

    • Michael Campbell Reply

      I have a question about what to do when there are tenants in the house but the owner wants to sell. How do you handle that if you think your buyer will not want the tenants?

      • Great question, Michael. I’ve purchased a number of houses from burned out landlords who had tenants they didn’t want to deal with. If this is a pain point for them, then I’ll often offer to let them avoid the hassle of eviction, and tell them I’m happy to deal with it as part of the deal. It’s a value play in situations where you’re dealing with a frazzled seller who just doesn’t want to deal with the tenants anymore.

        And a lot of times you can also negotiate a better discount from the seller if you can’t get good access to the property before closing due to the tenants…you have to assume everything’s wrong!

        The ways I’ve handled it in the past are:

        (1) Close on the property, then evict the tenants, then resell the property (obviously requires you to fund and close for a short period — but can pay off big. Snag a great discount for the hassle/unknowns at play, then get the tenants out, clean the place up real quick, the slap her back out into the open arena.

        (2) If you can’t close or don’t want to, you could get a temporary “property management” agreement in place with the seller, then leverage that to evict the tenants while you’re moving to closing. Just make sure you don’t actually close until right around the day the tenants are out of the property.

        Bottom line, if you deal with the tenants, you get paid more (i.e. better discount). Also, keep in mind you can and should always try cash-for-keys with the tenants before eviction. It’s always much faster and easier to pay them to move then to evict, which drags out and runs the risk of them trashing the place even more. You and the tenants don’t have any of the emotional baggage together… so you might be better able to reason with them.

        Hope that helps!

        • Michael Campbell Reply

          Wow, #2 sure is an interesting concept. On what grounds would you carry out the eviction? Wouldn’t they have to be in some kind of a breach of the lease ?
          I appreciate you getting back to me!

          • Patrick Riddle

            An eviction would only be carried out if there’s a breach in the lease. But maybe the buyer could get them to agree to move out early under certain terms.

            Or if the tenant is month to month, you can file to get them out of the property.

            Patrick

  17. Elizabeth Nichols Reply

    I talked with a seller today from one of my markets who needs quick cash within 30 days and wants us to cherry pick from among his dozen or so properties to make offers on 3-4 of them. This lead came in off a regular business type letter we sent out last week.

    We have a few “go to” people in this market, so hopefully we can get this done fast.

    • Charity Reply

      That’s sounds like a great lead! Let us know how it turns out.

  18. Robb Krautbauer Reply

    Good training guys. You can use the mls to look for cash buyer also.

  19. Ben Holden Reply

    I noticed in my DBP Sellers list, several of them have multiple properties. Do I send a letter regarding each individual property to the owner, or just do one and ask if they have other properties they may want to sell? Thanks guys.

  20. Anthony Schenck Reply

    Just to set my expectations a little: aren’t some/many of the “We-buy houses-fast” crowd themselves not really cash buyers, but wholesalers too?

    • Yes, that can be the case sometimes. You’ll find both, and you’ll usually be able to tell the difference pretty quickly.

  21. Joanne Mines-Sims Reply

    Thanks for the training guys. There seems to be a problem with downloading the Buyer’s Qestionaire.

    • The questionnaire is working now, Joanne. Sorry…we were missing a letter in the URL. One little “h” made all the difference in the world 😉

  22. Phillip G Huddson Reply

    REALLY FANTASTIC!!!!!, However, the Cash Buyer Questionnaire is still not propagating.
    Up Side: Just loved this installment. Have already contacted my realtor and asked to be his “unlicensed assistant”. will let me know soon. Am working now(Action Plan), to call one buyer each day. So far, training is “out of sight”!!!!! Peace.

    • Hey, Phillip…thanks for the kudos and congrats on the fast action taking!

      Re: the questionnaire, not sure what happened, but there was one letter missing in the URL. I just fixed it, so if you click the link again, it should open the PDF right up now. Sorry about that.

  23. Robert Chamberlain Reply

    Great session.

    It would be helpful if the AMP sessions stated which core training they are associated with.

  24. Michael Campbell Reply

    Great Job guys!
    Only thing is that the link to the questionnaire doesnt work. I tried it in two different browsers
    Peace~!

    • Woops! All fixed now, Michael…thanks for the heads up!

    • The questionnaire is working now, Michael. Sorry…we were missing a letter in the URL. One little “h” made all the difference in the world 😉

  25. EDWIN KINDRED Reply

    I love your presentations and how you teach.

    Fellas you’re…. AWESOME!!!

    Edwin

  26. Roger Ordonez Reply

    IPOD TEAM, Very well put together. The action plans to find buyers on google is excellent, never thought of that way!. DBP from the county records is a huge resource to locate the cash buyers, going to work also with real estate agent to locate some from the MLS. Setting up the cash buyer machine is really simple but will be very effective from what I see! However the one thing that really helped me in this core training is the role play you all did which seemed to be on the fly, which I believe is powerful. Will certainly role play myself to get it down. By doing these action plans, setting the daily, weekly or monthly goals is going to make all the difference of anyone’s success. I really appreciate all your hard work in putting ALL these trainings together for
    US ALL!!!!
    Thanks Great Job!

  27. Matthew James Reply

    yeah Bruce Lee rips hair off of Chuck Norris chest,

    Bruce blows it in his face and then Chuck sneezes

    and spits out all them hairs.

    Excellent lesson. To have more effective hands on ,
    i got a second computer to go though the steps
    explained on the AMPS training while hearing the
    lector.simultaneously

    It was difficult for me to recall the step by step order of software directions.

    • Great idea, Matthew (the 2 computers).

      And isn’t that Lee/Norris scene the best ever! I could watch it every day and still simultaneously marvel and lol. 🙂

  28. DON JACOBS Reply

    This was short and sweet. The role play was well done, and it is a good way to practice for me. I will use my “accountability partner” to play the role of the buyer while I ferret out the secrets on the form that I need to fill in.

    This even beats a lunch meeting if I need practice. I do not want to practice on the live prospect!

    My Action Goal the first week is to find the key to the County Records in my area. My brother has a title company in NM where he has all of the property record copies in his office for his county, so he had a cripple there to find buyers. ;^) (I’m not so lucky here in Ohio.)

  29. Mark Reply

    Excellent lesson,

    I especially liked the “role play” you guys did. Just two guys having a normal conversation, nothing sounding rehearsed. Very good!

    Thanks,

    Mark

    • That’s because nothing WAS rehearsed! Patrick didn’t even know I was going to suggest it…the idea just hit me and we rolled with it. I thought it turned out to be a great example too. Thanks, Mark!

  30. Lawrence Opoku Reply

    Good Job Guys, thanks very much.

  31. C Hebron Reply

    This was so simple that a cave man could do it.

    Thanks guys…

    My partner and I are off to the cash buyer’s brick roads.

    Papa Sly Hebron

    • Ha ha, love it Papa Caveman! Go get ’em! (buyers, that is.)

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