Wholesalers: Solid Advice on Building a Cash Buyers List Quickly
Question: Do you have the handy list of cash buyers ‘on tap' that your real estate wholesaling operation needs?
I mean an in-house group of fellow-real estate investors (rehabbers, landlords, house hustlers, etc.) with liquid capital on-hand, just waiting to hear from you about the next property you're willing to wholesale?
If not, then today's your day. Time to level-up your wholesaling houses game.
Cash buyers lists: Why so important?
Well, obviously if you're actively selling any kind of real estate, then you need buyers. (Duh.)
And for wholesalers, it's preferably experienced, serial buyers with their own source of money on hand, right?
And so, you can either:
- Do it the longer, harder way: Take multiple steps advertising and selling each property…
- Or the faster, easier way: Curate/cultivate a list of your own, solid cash buyers—people ‘on tap' who know your name, respect your game, and you can reach with a simple email, text or call.
Hint: Savvy wholesalers prefer option “B”
Advice from some fellow house hustlers…
Below you’ll find some experience-based intel on building your own game-changing cash buyers list for your real estate wholesaling world. It's aggregated from an array of successful house hustlers across the U.S.
Super interesting to me: While some of them share a few of the same ideas, their methods are fairly unique—each has also some new ways that the others don’t talk about.
Meaning, you’re about to dine on a tasty smorgasbord of cash buyer list goodies. And, I think it’ll super interesting to hear why some investors choose certain methods over others.
Lots to get to—bon appétite…
33 Ways to Build a Ridiculous Cash Buyers List
One of the most lauded original works we shared shortly after launching Awesome REI, 33 ways to build a ridiculous cash buyers list is (i) the only entry in this list that's specifically from us, and (ii) that's not a video. Meaning, you have to actually read it. :-/
I know, I know—that's now really how we're consuming the internet these days. And trust me, I get it.
But we'd be remiss if we didn't at least let you know about it. It's an awesome “deep dive” chunked into three fun categories that you'll want to at least skim, then bookmark before you move on.
If you'd rather watch fancy internet movies than read, then please enjoy the rest of what we've got for you on this page. 🙂
8 Free Ways to Build a Real Estate Buyers List
John Cochran invites you to rip off his 8 FREE ways to build your list of cash buyers. The goods start after about the first minute of video…
Of course, there are more than 8 free methods to grow your cash buyers list. John shares these as his top 8 because they actually work for him:
- Squeeze Page (with a value-add for buyers: free list of homes for sale, free report) and/or Lead Capture Phone #—when buyers find you and your ads, you’ll direct them to those so they can enter their contact info
- 5-Minute Video Virtual Tours
- Craigslist Ad
- Backpage (siezed as of 2018 🙁 )
- Facebook Alerts
- 2-Minute YouTube Videos
- Property Syndication Websites like Sellpoint
- Blogger (owned by Google)
John Cochran: Hey, what's up guys? John Cochran here and today is System Saturday. The day that I bring you a system that I use in my business that you can rip off, duplicate using your own local market.
Now, if you haven't been to one of my live events yet, why not? I only deliver my entire blueprint to you, which qualifies you for a $500,000 line of credit to do deals with. Now on today's System Saturday, what we're going to do is I'm going to explain to you the 8 free ways to build a real estate buyers list.
Now I understand that there's a lot more ways than 8 to build a real estate buyers lists. Like you can put ads out on the Yellow Pages, you know, go out to your real estate investment clubs and collect business cards. I understand that there's a lot more ways to build a buyers list.
However, I don't teach theory. I show you what works in today's market and I'm going to give you the 8 free ways to build a real estate buyers list. Now in order to do this, you're going to have to have one of two things to capture buyer leads…
And the first thing is a squeeze page. You have to have some sort of squeeze page or a website out there that is going to capture your buyers’ information. It's going to capture their email address, their phone number. A page that could possibly have a video on the left-hand side of it, and then an opt-in giving their first name, their email address in exchange for something like a free list of homes for sale or a free report.
So imagine having a squeeze page and you're going to give a buyer value. Give them something of what they want in exchange for their information. And they do this all the time. Now you really have to think about what a buyer wants. What does the buyer want whenever they're buying a property? And the truth of it is that they want a free list of homes for sale. They want to search for properties. That's what buyers want, is to search for properties.
So I can promise you that to give them a free list of homes to search is definitely gonna pool a lot higher than giving them a free report on the 8 deadliest mistakes they can make whenever purchasing a property. I can promise you that. But these are 2 different ways in order to basically gather somebody's information. So that's one way is having a squeeze page.
The second thing that you could possibly do that we do both of these on, is having what's called a lead capture phone number. So imagine going out and having a bunch of Craigslist ads, basically saying, “Call xxx.xxx.xxxx and I'll give you a free list of homes for sale. As soon as they call that phone number, software is capturing that buyer's phone number on the other end, so that now you have their phone number and now you can start marketing to them through text message and through voicemail, converting them into buying your properties from you. So that's exactly how it works.
Create a squeeze page or a lead capture phone number and BAM! Now you can start capturing buyers’ information. Before you capture their information, now you've got to go out and get them to the squeeze page, you've got to get them to call that lead capture phone number.
So what in the world do we do to get them to this?
This is where the 8 steps come in. And again, I know there's more, but these are the 8 things that work in today's real estate market.
#1: The first one is you can do video virtual tours, meaning that you could be walking through a property, with a an iPhone, and you could put that property all over the internet and you could have a lead capture phone number or a web URL, sending them straight to your squeeze page or straight to your lead capture phone number, which BAM, you're capturing their information both ways.
So a video virtual tour of you just walking through a property and have some call to action on the very bottom of the screen throughout the entire video. Anytime that you do a video virtual tour, it needs to be 5 minutes or less.
#2: Craigslist ads. Craigslist is a big one. This is free. All these are free. So on Craigslist, you can go and put as many ads as you want. They're out there driving people to your free list of homes for sale. Your free reports to your URL to capture their information. You can also post your ads on Craigslist and drive them straight to a phone number, that lead capture phone number.
Backpage, same exact thing. So Backpage.com it's another free site that you can go and post ads at to get a lot of people to start downloading your free report to start searching for homes. So Backpage.com is another one that you definitely need to use for your lead capture phone number and your squeeze page.
Facebook posts. And we call these “housing alerts”. So what we will do is we will have a Facebook fan page and then we'll just do a random post just like you would on your own Facebook page. You just do a post and you call it a housing alerts. Now in this housing alert, what you're going to do is you're going to, really focus on the deal for the buyer. And in this housing alert, you will have your URL go into your squeeze page or your phone number, going to your lead capture phone number right from a Facebook post. People will call, people will visit right off these and it's all free for you.
Another one is YouTube videos, and these videos need to be 2 minutes or less. This is different from the video virtual tours. This is different. Imagine going out and shooting a video and titling it something like “Dayton Homes for Sale”. Buyers are going to search that. And then it could just be a video of you saying, “This is John Cochran from Homebackers Reality and we have a plethora of homes for sale in the Dayton, Ohio, area that you definitely need to look at. They're all 25% off. All you have to do is go to BuyMyDreamHouse.com”.
So you could do some type of video like that under 2 minutes that has at the bottom of it either your call to action for your squeeze page or your call to action for them to call you to get this free list of homes, which is what they want. So you can do that for every single city that you're looking to get buyers in. And that is a very good way to get exposure on YouTube, to get exposure on Google and to get a lot of buyers calling you for free.
Another one is 2 property syndication websites. So if you go and you have a property for sale, what you can do is you can upload that property one time to a property syndication websites. And what software will do is it will take and it will broadcast your property for sale out to 40 different websites at once.
So imagine going and uploading a property to say Postlets.com, which is what we use. You upload it one time, and then Postlets software will upload your property up to like Hotpads.com, Trulia.com, Yahoo.com… to over 40 websites exactly like that, just from you uploading it one time, saving a ton of time for you.
Another property syndication website that we use is called Sellpoint. It works the same exact way as Postlets and it will get your properties exposure. So what you want to do is during your Postlets ad, have your URL or have your lead capture phone number right into the face on your property flyers or and your property descriptions, so that on all those 40 websites that Postlets and Sellpoint is taking your property to is going to see your lead capture, what URL or your lead capture phone number. And then that is how you could build a big massive buyers list for free just from uploading your property one time.
And the last and final one is Blogger.com. So what you can do is you can write a lot of a blog posts about properties. A lot of blog posts about buyers and what the market is and whatnot. And then embedded in your blog posts you want to have your URL and your lead capture phone number.
And the reason we use Blogger.com is because it is owned by Google. That is the only reason we use it. There's tons of blogs out there, but what we're trying to do is get the Google juice. So whenever people are typing, “Dayton homes for sale” then BAM, they're going to see your article that you wrote up and then they're going to visit your squeeze page, or they're going to call you right on your lead capture phone number.
So guys, those are the 8 steps. I'm out. See you guys.
5 Ways To Find & Build a Cash Buyers List For Wholesaling & Flipping Houses
Ty the “Flip Man” knocks out his top 5 ways to find cash buyers. You’ve got to play this one—just to listen to Ty—he’s pretty great, and the cash buyer-getting part starts a couple of minutes in…
Ty the Flip Man: What are my top 5 ways to finding and building your cash buyers list for flipping and wholesaling houses without using your cash or credit? Standby. Let's get it.
Hello guys, this is Ty aka The Flip Man. So what are my top 5 ways of finding and building a cash buyers list for flipping and wholesaling houses without using your cash or credit?
Before I get started, please subscribe to my YouTube channel and make sure you tap the little bell to turn on the notifications so you are alerted whenever I upload new videos and also when I go live on YouTube, especially on Thursday nights when Adrea, Rinekea and myself go live at 7:00pm Eastern, where we answer your questions about real estate investing, in general, but mainly wholesaling, which is the method that we focus on here because you can put deals together without using your cash or credit.
So everyone's always asking, how do I find cash buyers, or some people say end buyers, for my deals? How do I build my cash buyer list?
Well, what I want to share with you are my top 5 ways, with a couple of bonuses, on how to do just that. Now, before I get into that, some people say you need to build your buyers list first and then go find what they want. Others teach to find the great deal and the buyers will come if you advertise it. Now you know which way I lean on that, but both of work, so I don't want to get into all of that. I have other videos on that.
So to get straight to it, I'm going to start from 5 and work my way down to # 1.
#5: Realtors. Now for some people, real estate agents may be higher on the list, but for me they're not. And here's why. Well, let me tell you how you can use them first, and I'll tell you why they're not higher on my list.
First, obviously you gotta find the right Realtor that's willing to work with you and can wait on getting paid. Now, sometimes it may as be as simple as them putting, depending on the MLS system that they're using, it would depend on how accurate or how detailed it is on how a transaction occurred, as far as whether cash was used, was there a lender involved or whether some form of owner financing involved.
Okay, so if that information is detailed and identified on each transaction, then it would be simple for them to pull up a list of a potential cash buyers that are purchased within a certain zip code or a certain area within the market. Now, Realtors are here to make money also, so you're going to have to give them a reason to work with you. If they produce a list of buyers and they close those deals, you may work out just a flat fee with them or a percentage or your deal. Just remember everything is negotiable, but the hardest thing is going to be, in most cases, finding a Realtor who, #1 understands what you're trying to do—because you're going to assume that most know what wholesaling is and want to understand it and make money with it. But it's going to be the opposite, so you may have to go through a few before you get one that's gonna work with you long term.
Now that's part of the reason why they are low on the list for me is because of how many of you possibly would have to go through to get to one that wants to work with you. So that's going to be a personal thing. I just don't want to cut through all the foolishness dealing with them cause they going to take your wholesalers illegal, all of that stuff, which it isn't.I just don't want to fight through that. But I'm not telling you not to do it. I'm just telling you why I don't prefer that being one of the top ways of finding cash buyers. But it can be very effective if you find the right real estate agent.
#4: Real estate investment associations or real estate investment groups. Now again, this may be higher on some people's lists because they are great networkers. Now, all real estate investment clubs and not built equally. As a matter of fact, when I started out here in my market, the club that I started with, they obviously are all investors, but they're not all creative investors. They just knew how to buy, fix and flip by fix and rent using their own money… not understanding there were creative ways to put deals together. Not the entire club, but that was the climate there.
So for me, I didn't get anything out of it and I'm not that great of a networker with them, always trying to work on that, and I highly encourage you to do that. So the larger the market that you're in, the more real estate investment associations are. REIAs, as they call them, will be available. So you may choose one over the other or you may like all of them that are in your market. So the thing about that is that you will find some true players there… people who will become actual repeat buyers for your actual wholesale properties—that's the actual goal of it. So definitely take advantage of a REIAs in your market and hopefully there's a good one there or multiple good ones there so you can take advantage of that network of investors.
#3: The internet, which is going to encompass, social media, Craigslist, Backpage, Zillow and so on. This could actually be higher in my opinion, and I struggle with #2 and #3, but #3 is the internet. There’s a few ways you can go about that and it's always adding on and daily seems like different methods you can research and find buyers and so on.
But starting with Craigslist, everyone knows you can post deals there and depending on how attractive the deal is, you can find a buyer there, but it's going to tie in somewhat to #2 also. I haven’t used Backpage a lot, but I have heard others that have some degree of success there. Then you have your social media with Facebook groups, even Instagram, posting your properties there depending on what type of following you have or some of your followers and who they have following them.
What I like to do is have an actual website where I promote all of my deals, and with that website I use YouTube videos that I can post on my actual website to promote my properties, which makes it easier for buyers to have either immediate interest in my properties or no interest in their properties depending on where it is: location, price and condition, obviously.
So I use that just I love it. It's free. You're probably watching this video right now on YouTube. It's free, it's powerful, easy to add a link to an existing website or impede a link and you can market your property. Some people say take pictures. Why do that? Who doesn't have a smartphone? If you don't, you need to get one, you're fooling yourself.
You hear me say that over and over again. Use technology. Make it easy for people. Pictures are fine, but you can text a YouTube link to someone's cell phone and they can see your property immediately. It's just a great way to market your deals. But with that being said, it helps to number one, attract buyers to add on for your deal that you are marketing, but to obviously to build a buyers list for your future deals.
#2: Other wholesalers. Some of that will come from Craigslist, Backpage or social media, such as Facebook and Instagram, but other wholesalers, and they say co-wholeselling or JV, on an actual deal is your opportunity to number one to find a buyer for your deal, but once that deal is closed, in most cases, now you would have that buyer's contact information to reach out to them directly.
Some wholesalers try to hold onto that buyer, you shouldn't care about that. But I can't tell someone how to handle their business. But there’s enough money out here for everyone. A wholesaler can't expect to get paid every time that buyer buys a property from you. And that ridiculous in my opinion.
So other wholesalers are definitely going to be a way to, number one to find buyers for your deals, but also to help build your buyers list.
#1: Bandit signs. If you put out 20, 25 bandit signs in an area where you have a property that you're marketing, and it needs to be a deal obviously, your phone will ring off the hook with buyers calling.
Now, some of it would be people calling and saying, “Hey, do you rent properties?” “Hey, do you do rent to owns?” “Hey, do you need someone to clean your houses?? “Hey, do you need someone to cut your grass?” “Hey, do you need someone to do the renovations or the rehab on the property?”
But you will also get cash buyers saying, “Hey, where is this property located? How can I see it?” That's what you're looking for. It's a very inexpensive way, but effective way to get your phone ringing with actual cash buyers and also to build your cash buyers list.
Now, I've done handwritten and I've done printed, both work, but the handwritten can be done quickly just because you get a property under contract, you have the actual price that you'll put on it. So a simple message:
Cheap house for sale, $32,000 cash and xxx.xxx.xxxx
That's it. That's the only room you have anyway. So if you do something printed, you might do something with a little bit more information depending on the size of the sign that you're using. Bandit signs are number one.
Now, couple of bonuses that I'm going to throw in here is you could do direct mail to a cash buyers list that you can purchase from this ListSource, depending again on how accurate or how current information that the county that you're targeting produces that information. You can do direct mail, promoted a property, that's your ad through a postcard and/or letter to actual investors that are shown to have bought in that area recently. Similar to what a real estate agent from #5 will be able to provide for you also, but you'll have their actual address and you just mail out to them. In some cases, just pick up the phone and call them just from a simple search or some skip tracing.
Now bird dogs, that's going to somewhat go in the same arena with wholesalers. But with a wholesaler, they may want to split the deal 50/50 or some percentage that’s significant. Whereas with a bird dog, you may just give them $1,000 and you may make $30k on it. I've done it.
And with a bird dog, they'll provide that lead to that buyer. Now that's a buyer that you can go back to and you don't have to continue to pay that bird dog on these transactions that you do with that particular buyer.
Now driving for buyers is another bonus that I'm going to add here. What I mean by that is through just your normal travels, when you’re putting out bandit signs or you’re looking at a house or whatever it is… that you will sometime notice that a renovation project or rehab projects is going on.
So why not go and introduce yourself? Possibly, the actual buyer or the investor may not be there, and just the workers or the contractors are there. But what you want to do is go to introduce yourself, let them know who you are and what you do and provide your contact information to give to that actual buyer or that investor.
Now, the contractors or whoever's doing the work there should be receptive, because it's an opportunity for them to continue to do more work because I'm sure that particular investor would probably want to use them again on the next project. So it should be pretty easy to either get the buyer's contact information or to provide your contact information.
Just to recap really quick:
#5 real estate agents
#4: REIA groups, real estate investment association groups
#3: the internet, that's Craigslist, Backpage, social media with Facebook and Instagram, your own website, posting your actual videos of properties on YouTube, links on your site
#2: other wholesaler, co-wholesaling, JV
#1: bandit signs, whether handwritten or printed.
So there you go. Those are my top 5 ways of finding buyers for your deals, but also building a cash buyers list for future deals.
So again, subscribe to my channel. Make sure you turn on the notifications so you are alerted whenever I upload new videos, but also whenever we go live, every Thursday night, for our flipping hours where Adrea, Renekiea and I will answer your questions about wholesaling houses or just real estate in general.
Thanks for watching this particular video. I hope it helps and I will see you on the flip side.
How to Build a Buyers List + Live Q&A
6 totally do-able methods for quickly building your cash buyers list—how's that sound. Then press play… but heads up: He doesn't actually start talking till around 2:20, and you might want to 2x this one. Some really good stuff, but there's also a lot of filler around it. (You're welcome 🙂 )
Awesome ideas for you to take action on today from Max include:
- Local GIS
- Kent Clothier’s S.M.A.R.T. System
- Live Auctions (Max’s fav.)
- Bandit Signs
Look, if you don’t have a solid buyers list, you’re going to get yourself into trouble—stuck with deals that you can’t assign over. Don’t be that guy/gal.
Max: It's an important to be able to sell the deals that you get under contract. So let's talk about some of the ways that you could simply start growing your buyers list. This is going to be after you lock up a deal.
What you can do is go online and, I hope everybody is familiar with their county GIS: Geographical Information System. So if you live in Rockingham County, you're going to type in Rockingham County GIS, and that's where all the real estate information is kept in your county right there online.
Start by putting in the information on the property you live in right now. And then you can start to learn how it works. So what you're going to do is when you have a property locked up, you're going to look at the tax data. When people say tax data are tax records, they're usually talking about the county GIS. You're going to go into the county GIS, you're going to type in the address of the property that you got locked up, hopefully you've already done this, and what you're going to do after that is, you're going to look at the properties around and adjacent to the property that you have.
Sometimes you're going to have properties that are owned by LLCs and investment companies and all those types of things. That is what you want to do. So for example, if you locked up 123 Main Street and 125 Main Street and 126 Main Street might be owned by an LLC. Those are people you want to find out and tell them, “Hey, I have a deal.” The reason why it's the easiest is because they are already buying in the neighborhood. They've already identified themselves as somebody who likes to be buying in this neighborhood. It could be a great investment, buy and hold obviously, or it could be something that they're rehabbing.
You also want to drive around the neighborhood that you've actually got the property locked up and you want to see who's doing rehabs in the neighborhood. Go drive a mile radius around and find out who's doing deals.
Second, uses the SMART System designed by Kent Clothier. It pulls a list of all the cash buyers for you. And what it does is, it tells you who's actively buying. If you can't afford the SMART System, find somebody who has it and pay them some money for a buyers list. Whatever it's worth to you. You instantly know who's buying and the zip codes.
Another way that a lot of people don't know is ListSource. You can actually pull a list of active buyers on ListSource and do it that way, and then you can craft a letter and send it out to him. Or pay someone who has it to pull it.
My absolute favorite way to find buyers is attending live foreclosure auctions or foreclosure options, which are deed auctions or going to be tax auctions. And in my county, these auctions are live at the courthouse. So what I do is I go to the courthouse with some business cards, and I wait until people are actually bidding and I see who's bidding. And I approach them after the bid, and I simply say, “Hey, I see that you were bidding on 123 Main Street, well it happens and I'm a wholesaler here locally and I come across properties like these all the time and sometimes even cheaper than what you are bidding for here at this auction. Here's my card, give me a call, let's sit down and have a coffee and talk about exactly what you're looking for.”
So Kent speaks about this, he says you should go out and find buyers and do shopping versus just locking up deals left and right. So if you have a shopping list versus just going out and trying to sell a deal, it makes it a little bit easier. So finding buyers is very, very important. And some counties actually don't have live auctions at the courthouse. What people do is then, the auction is still online. So, for example, if you're in south Florida, what you're going to do is go on the website, which I think is RealForeclosed.com, you're going to go on that website and you're going to go back and look at the last month’s sales and look at the third-party winners… because you don't want to look at the bank that won it, you want to go look at a third-party winners and it's going to be LLCs.
You want to contact those LLCs and say, “Hey, I have a deal in your area or I'm gonna be having deals, or I usually find deals”. What you want to do is go out and grab these deals from these buyers that are buying cash.
Here's what I love about auctions. Out of all of these things, I love the auctions the most because these people are actively looking at the moment. So if I went to an auction this morning, what you're gonna do is you're gonna approach that guy with the business card that was just bidding and it's usually 10 to 12 people they're bidding, you know they got cash because they got to close fast when it comes to buying at the courthouse steps, usually within 30 days or less and they're putting down deposits.
So that is my absolute game kicker on finding cash buyers in your area is going to the live auction or looking at the auctions online in your area and if your auctions are online it’s probably on RealForeclosed.com, which is a third-party site that a lot of the counties and city governments use.
So that's how to find find cash buyers.
Another way is to go to Lowe's or Home Depot and get the blank bandit sign, get a big marker and write in “3/2 fixer up” or “3/2 needs work” or 3-bedroom, two-bath, needs work, must sell, xxx.xxx.xxxx.” So what that does right there is that anybody driving by who’s a cash buyer, they're going to see that and they're going to say BOOM! Or you can say, “ 3/2, $55,000, needs work, must sell”
Stick that sign in the ground, your phone blown up off the hook. Those are cash buyers. You interview them and say, “Hey, you know what? I just sold that property. But what else are you looking for? Tell me what you're looking for.” And then once they tell you that, BOOM, you're in the money.
Another way to do it is post ghost ads on Craigslist. You want to go find a piece of property that is run down somewhere in your county, and you're going to take a picture of it, and you're gonna put it up on Craigslist: “3-bedroom, 2-bath needs work, fixer-upper must sell. Call me here or email me here.” And then you're going to get cash buyers who are going to be hitting… wholesalers are going to be hitting you up too, but if you ask the right questions, it's going to be easy for you to weed out wholesalers.
But my absolute favorite way to find cash buyers is: I personally attend the live auctions at the county courthouse and see who's bidding on properties. If you're bidding on properties from the government, you got cash… because they don't play around and you've got to close fast.
And that's just some quick tips to find cash buyers.[Q&A 15:24-48:27]
Remember, if you have not downloaded my e-book, go to www.therealmaxwell.com/ebook. If you want to book a one-on-one session with me so I can go over your business: therealmaxwell.com.
Look guys, I really appreciate you, everybody on Instagram, everybody on YouTube. I love all of you guys. I do this for y'all. I really do. And remember, our goal is we want to make sure you get your first deal. Go out and wholesale people. Go out and wholesale. I wish you guys the best. I will see you next week. Don't forget to subscribe to my YouTube channel. All right. Peace out. We love y'all.
3 Strategies to Build a Massive Buyers List
Bottom line, you can’t market a wholesaling property effectively without a buyers list. Grow yours with Sean’s 3 strategies:
- Online Classifieds:
- Google Ad Words:
- Buy ad space on Google using keywords (eye contact)
- Takes them to an opt-in web page to capture their email address
- Referenced iContact.com
- Work with Realtors.:
- They’re a huge resource because they have buyers.
Sean Terry: Hey there, Sean Terry here from Flip2Freedom.com. Home of the #1 rated real estate investing podcast in iTunes. I am back with another episode of a Flip 2 Freedom Q&A corner, where I answer your burning questions about wholesaling houses in today's market. Now this question is from D. Wells. What's up bud, how's it going? It says:
“Hey Sean, how do you market a property if you don't have a buyers list? The reason I ask is because I see a lot of times that people who are getting started, brand new or new to other markets, post their deals on Craigslist, and the deal will get seen by the seller and the seller will get very mad when they see the property marketed for a higher price on Craigslist, Backpage, Postlets, Zillow, etc. They will also see their property being advertised if you use bandit signs around the property. How can you market it, if you told the seller that you're the buyer, but will get caught using traditional channels for marketing?”
Great question! If you've been wholesaling houses for a while, you've probably run into this particular issue. So he's got 2 different issues here…
#1: How do you market a property without, without a buyers list. That's the first thing we're going to be talking about.
#2: How to position it with the seller. When you're negotiating with a seller and you're getting the contract signed, if you positioned it correctly from that point when you sat down with the seller and disclose to them what you're doing in a way so that you wouldn't have this issue at all. It could be handled very easily.
So those are the two things we're going to talk about… how to position yourself with the seller and also how to build a buyers list. Two extensive things.
So let's first talk about positioning because that's what we're going to do on the frontend prior to getting the contract. Now when we sit down and meet with a seller, we want to be straight up. We want to shoot from the hip and not dance around the subject. So what I say, and it's even listed directly in my contracts is: “Agreement is subject to valuation of buyer.”
That's an “out clause.” We have to do an evaluation on the property. “My company and Sean Terry agrees to purchase the property to rent, lease a sign or sell for a profit.”
That's what says right off the bat. And they initial by this. It says: “It is further understood that the buyer is not intending to occupy the property as a resident, seller fully understands the buyer and/or its representatives are not earning any fee or commission from the seller. This seller should not expect any representation from the buyer and buyer's representative, and all legal and financial questions should be answered by seller's broker or legal advisor.”
It says it right in my contract when I am talking to the sellers. Whether it be Stan, my acquisition manager or myself when I'm sitting down with the seller, I make it very clear: “I'm an investor, and we are going to come in, and I don't know what we're going to do with the property. I might hold it as a rental. Okay. I might put $5 grand into it and hold it for a rental. I'm going to rent it and a hopefully eventually make a profit. I may fix it and flip it. I might it buy it from you, fix it, and then turn around and sell it.”
From a wholesaling standpoint, obviously your intent is to turn around and sell it and sell it quickly. But let me ask you a question: What if one of your buyers comes to the property and says, “Why don't we do a JV deal on it together? I'll front the money for the fix, and you just donate the property and what you're in it for, your basis, and then we'll turn around and split profits 50/50 down the road.”
I just recently did that on a property here in Arcadia with my hard money lender. A guy I’ve known for years. We partnered. I donated the property at a cost of what I was in it for, he came in and did all the fixing, and did all the selling and putting it on the market and we split on it.
Bottom line is that you're here for a profit. So when you're talking to the seller, you make it clear that:
“I don't know if we're gonna rent it for profit. I don't know if we're going to fix it and sell it for profit or I don't know if I'm going to sell it quick for a profit. The bottom line, Mr. Seller, is that you and I agree on a price (and in this case the price on this property is $110,000 that's what you're going to get less your tax prorations), what we do with the property on the other side is pretty much irrelevant, but the bottom line is you're going to get your $110,000. And whatever we do on the other side—we're here obviously to make a profit, whether we rent it, whether we fix it, whether we sell it, we'll do so quickly. The bottom line is that you're going to get your $110k less tax prorations, and we are here to make a profit on the property and that is the advantage through selling through us.
If you sell through a Realtor, #1, there is no defined close date. There is no defined date. You might stick it on the market, and it might take you 6 months. And there is no defined price. You stick it in on the market for $120–$130, someone might offer $110k, someone might offer $105k or $100k or $107k, there is no defined price because you're putting it out there, and there is no defined date.
Now, Mr. Seller, if you want to sell to me, then I'm going to give you a defined price. It's right here in the purchase contract. It's $110,000 and guess what? I'm going to give you a defined date and that date is November 25th. So you're going to have those two in concrete, and whatever we do with it on the back end of it, obviously I'm here to make a profit.”
So, positioning on the frontend, shooting from the hip with your seller and telling them what you do will avoid any type of disputes down the road. So if your seller sees the property on Craigslist, and they call you up, “What's my property doing on Craigslist?!” I'm going to say:
“I told you, we're putting out there to try to establish what the market is for the property. So that's why we put it on Craigslist. If we happen to find a buyer for a higher price, we'll turn around and sell to them. Like I told you, Mr. Seller from the start, the bottom line is you're getting $110,000, and obviously I'm here for an investment. Guess what? If we can't sell it, we still gotta turn around and either fix it, sell it, close on it, do whatever—that's the bottom line.”
Um, so you can position yourself on the frontend of it to shoot from the hip with that sale. Now here's the deal. Make sure you agree on a price that you know works. Because what happens is… let's see you’re negotiating with a seller, and you sign a contract for $130k, but you're really not comfortable at $130k and it’s making you nervous. Make sure you sign it for a deal that works. Just don't get the contract just to get the contract, sign it for a price that makes sense. So then you can negotiate from the standpoint and you're confident that you can get this deal done. So you want to get it at a below market price.
So the next thing is: How do you build a buyers list? This is probably one of the biggest questions we get from people. Now here's the thing, there's two different type of markets. There's a buyer's market, where there's lots of inventory out there and the buyer can choose from all this inventory. Or there's a seller market, where there's not a lot of inventory out there, but there's a ton of buyers out there.
So depending on the market that you're in is gonna determine how you market the property. In this particular market right now, at this day and time, it is a seller’s market. There's not a lot in inventory out there and there's a ton of buyers.
So what happens is the seller/the guy with the inventory, can turn around and very easily sell in to a marketplace. So here's the deal if it's a sellers’ market. Nnow you can market the properties on Craigslist, you can post the property.
I'm going to give you a couple of different tips here—some probably you've never even heard of before, but some you have heard of before, like posting on Craigslist and Backpage. Most people know that you can post your properties there. Now the strategic way to do it is to build your buyers list. Your biggest asset as a wholesaler is having a very strong buyers list that you can send an email out to and have a lot of buyers on your buyers list and then people call you.
So email addresses are incredibly important. We want to capture that. All your advertising is geared toward sending them to a link, to a squeeze page or your website. Now my website is PhoenixWholesaleHomes.com, and they'll drive to that site. We have our properties there and they have a place where they can opt in to get property alerts. I also have ArizonaRealEstateWholesalers.com. That is a squeeze page.
So what I'll do, if I'm posting on Craigslist or Backpage or other different properties, I will send them to ArizonaRealEstateWholesalers.com, which is a squeeze page, where they’ll opt in, and then it will direct them to my main website, which they can see their properties on there.
What if you're not tech savvy? What do you do?
Well, think of free sites like Weebly.com, and you can sign up for a free site. You don't have to have any HTML or code or any of that type of stuff to be able to set up a site like that. And you could set up a simple squeeze page, a simple website and pull some properties on there. It's all drag and drop. That's a very short-term solution. Eventually you want to have a full-blown WordPress-based website where you can display your properties. Initially getting started, if you want to start with Weebly and start building some squeeze pages just to build your email list, you can do that too.
So, the motivation is to get that email, and once you get that email, then you can start marketing properties to this email list. Now that's one way… through all the free classified ad sites that we all know: Craigslist, Backpage. Postlets puts it out on Zillow, Hotpads puts it out on other different internet sites.
Now what's another way that we can find buyers? In Google. Google makes money by selling ad space to different vendors on a keyword basis. So what if someone types in “wholesale properties Denver”? You can have your ad display, and they can click on that ad. It can go to a website, and they can enter their email to view your properties.
So that is a way where you can capture email addresses 24/7. If you have a campaign going, you can build it 24/7 by having a people search a term: “wholesale properties”, “fixer properties Denver”, “cheap properties Denver”, “cheap properties for sale Denver”… those are all specific keywords that people type into Google.
And you can bid on those specific keywords, and then they can hit a landing page, and when they hit a landing page they can opt into it. When they opt into it, you can capture their email address. Now I use what's called iContact—it’s an email capture platform. But also, I blast my properties out to my email list through using iContact.
They have these little cool templates you can put your properties on their, and then you can blast them out to your buyers list. And it doesn't matter if your buyers list is 5 people, 10 people, 20 people, 50 people. The bottom line is, that if you continue doing this, you're gonna have a buyers list that's going to grow. That means a year from now, you're going to have more buyers than you do today. Two years from now, you're going to have more buyers than you do a year from a year from now. So it's going to continue to grow.
Now, as I’ve built my list over the years, I have 32,000 buyers on my list that I can press send, and it goes out to all these buyers. Then, my phone will ring in a matter of minutes, and I can sell a property in minutes from pressing send. It's an awesome experience. So having that buyers list is incredibly crucial to you, to ensure your success and be able to sell properties quickly.
You can put bandit signs out, that will get people calling. And put ads in the local newspaper… I would direct them to the website as well as a squeezed page. Those are other ways to be able to do it.
So, we talked about posting ads on Craigslist. We talked about Google AdWords, which is a great way to be able to get leads.
The 3rd way nobody really talks: working with Realtors. Realtors are a great source of buyers. Huge! They know contracts, they know the process, they know how the whole thing works. When it comes to contracting, you really don't have to teach and explain much. All they need to know is that the price of the property is net to you.
For an example, let's say I got this contract for $110,000, and I'm going to sell it for $140k, which is net to me. If I'm going to work with a real estate agent, they would tack on their fee on top of the price. And it doesn't matter what the fee is, they can add whatever they want.
Now, if I get a cheap property… I’ve got one on my website we're selling for $50 grand. A typical fee is 3%. And 3% of $50 grand is only $1,500 bucks. But because it's so below market, it makes sense. They could put a $5,000 fee on there and it would still make sense because it's that far below market.
Realtors love working with guys like us because they have the ability to tack on a fee, and it's a lot more than $1,500 bucks and it still makes sense for their buyer because they're able to present the property to their buyer.
The other thing is this: Realtors are great because realtors have buyers, they are building buyers. I'm too excited, I love this stuff! You may have one Realtor, they might have 10 or 15 to 20 buyers out there looking for properties. And guess what? You can target that one specific Realtor who now is going to share it with all their buyers.
Now what if you can target 10 Realtors? What if you can target 50 Realtors? How do you do this?
Well, first off, we want to build a relationship with a good Realtor. And you want to do that by saying it's going to be a win-win:
“I'm marketing for a lot of properties, and what happens is some of them are going to sell at a discount because there's a distresses situation… circumstantial distress, financial distress, or there's physical distress on the property. I'm looking for that distress. Now if there is no distress, I have to refer them to somebody because they still call, they still want to sell. So I'm going to refer them to somebody, and I could refer them to you as a Realtor.”
The bottom line is that you can give that Realtor a lot of referrals, and they would be ecstatic to get those listing referrals. So you say:
“I can give you those, but also I need you to work with me because I've got this property… it's under contract and I want to find all the cash buyer Realtors around this particular property that have sold a property for cash in the last 60 days.”
So you can go in the MLS with your Realtor and pull your property and pull all the closings that have happened in a 2–3 mile radius in the past 60 days. Make sure they’re cash. They're not FHA financing, they're not conventional finance, but they're cash transactions. So now you're dealing with all the Realtors that have sold a property to a cash buyer within that region. Typically, if they sold to a cash buyer, that means the investor likes the area, they want to be in the area might, be a person looking for rental property.
So if you target them, that buyer might want to purchase other properties. So what you do now is you can go in each one and in the MLS is the agent's telephone number and email. So you can call these agents and say: “I just got a property under contract. I see you sold a property recently, cash to a cash buyer, and I was wondering if any of your buyers would like to purchase another property.”
Or you could send an email about the property as well. That is an absolutely great way to be able to get your properties in front of qualified people very quickly for the intent of building a buyer's list.
Then, you can eventually press send to 300, 500, 1,000, 2,000, 5,000, 32,000 buyers… and sell properties in a matter of minutes. It's an exciting thing. It's awesome.
You're going to continue to grow it, and you're going to continue to build it. Don't let it sit there and die. You're going to continue to cultivate that list, but it's incredibly important. Wholesaling I can tell you is the most fun.
It's a blast because where can you go that you can get a property under contract for $110,000 and turn around and put it on an email blast for $140,000 and turn around and make $20,000 in a matter of seven days. It's a beautiful thing.
Now imagine if you did that over and over and over and over again. You can make an absolute fortune doing this business. I don't even have a college education. That's the beautiful thing about it. I spent 4 years in the United States Marine Corps. I don't have a college education. So it doesn't matter where you've come from. It matters how you put this together and that you stay persistent. You stay focused and you go out and do the things that count.
Building your buyers list is what counts—have a good buyers list and all the other stuff will fall into place. So don't get anxiety about Google and websites. Take one step at a time.
My father-in-law always says is: If you're going to eat an elephant, where do you start?
You take one bite at a time.
If you're going to take a journey from Arizona to California, and I was going to walk there… it's one step at a time. You just got to get started and do it. So don't get yourself all overwhelmed by the elephant or the trip… just realize that you should just start one step at a time and take action every single day. If you took action every single day, a year from now, you'll have a big buyers list. A year from now, you'd be selling properties… so fast you wouldn't even know you can do it.
Right now we're going into an up market, which is exciting. It's a blast! And now's the time to capitalize on it.
So, D. wWells, I hope that answered the question for you. Positioning on the frontend and consistently building your buyers list on the backend will turn you into an incredibly successful, incredibly wealthy property wholesaler.
If you want more from me, go to Flip2Freedom.com, down below this video there's a link and a download for a book that I wrote. It's The Ultimate Real Estate Investing Blueprint, and it teaches you specifically all these steps all broken down from start to finish. It's been downloaded over a half a million times. It's absolutely free.
People tell me they spend over a $1,000 for the same information for free. So, whatever makes you download the book, it'll definitely make a difference. And also I have a 100+ different episodes out there teaching specifics about what to say, how to say it, how to negotiate this… every aspect about wholesaling. On YouTube, it's all free. Take advantage of it. And all I ask is that you send me a video of your success story because you will have success if you follow the principles. So go to Flip2Freedom.com, download my book, and I hope to see your video soon. Take care. And God bless.
11 Ways to Find Cash Buyers for Wholesale Deals
Khang dishes out 11 free and paid ways to build your cash buyers list. The meat-and-potatoes start around 2:41…
Here’s that handy-dandy Khang list:
- Facebook: Wholesaling Houses Full Time
- FB: Real Estate Investor — James Simmons
- Local REIA (Real Estate Investors Association)
- National REAPS (Real Estate Association of Puget Sound)
- Bigger Pockets
- Local Realtors
- Courthouse Auctions
- Bandit Signs
- Kent Clothier’s S.M.A.R.T. System Suite
Kong: Welcome to my channel Wholesale To Million. My name is Kong. So today I'm going to talk to you guys about some ways to build up your cash buyers list. There’s 11 ways that you can go out there and find a cash buyer a for your wholesale deal.
So this is when you already tied a property up under contract with the seller. You send in to your title company, you put in your earnest money and now you're looking to market the property to find the cash buyer. For those of you who don’t have a cash buyer list, these are some good ways to start building up your cash buyers.
Some of these are free, some of them are paying ways to find your cash buyer.
#1: Wholesaling House Fulltime. That’s a Facebook page I talk about all the time because you can actually go on there and start posting your deals on there and started collecting buyers from that. There's over 40,000 members on there, from all around the U.S. So you can connect with them and hopefully connect with someone locally in your area.
#2: Real Estate Investor Facebook page. It's the one hosted by James Simmons. They have over 68,000 members on there. All around the U.S., so it's good to go on there and post your deals on there.
#3: Craigslist. Typically, what I do is connect with other wholesalers. Some of them are not really serious buyers, but there are serious buyers who are looking for deals on Craigslist. So, you’ve gotta go through it, dig out the ones who are serious. I typically don't put the address on there. I might put the street name or a cross street, but I don't put the house number on there is because I want them to contact me, and then I want to verify them before I give out the address. I just don't want a bunch of tire kickers driving across that property or some of them even go to the property and knock on the seller's house. You don't want that a problem, we had a happen to us. That's why I don't put the house address. I just put all the information on the property, as much information as I can on the property, but I don't put the address, the house number until they contact me, I verify them. Then I give out the house number.
#4: Local REIA. Google it. Find your local REIA, go there and start networking with people. There's contractors there, builders, developers, all kinds of people there, a lot of new investors and wholesalers who want to come in to the game. Go network because you don't know who you will meet there. That's another great place for you to start advertising your deals and start collecting buyers. Even if you have no buyers or even if you have no deals right now, just put up some ghost ads on Craigslist…
What I mean by that is, a ghost ad is when you put up a property, make it a huge discount price so you catch the buyers’ attention. So they're going to start sending you emails or give their phone number, their contact information so you can put them on your list. You just tell them that “the property was sold already or it's under contract, but you do come across other deals. Would you like to be on our buyers list?”
So, even if you don't have a deal, start putting ads and building up your cash buyers list. Go to your local REIA and start networking with people. That's a great way to build up your cash buyers list. They might have a local Facebook page. We’ve put our deals on there and we got buyers on there.
#5 Local REAPS. It's exact same kind of concept, but two different companies. So Google it. They probably have their own Facebook page as well and they have their own day that they set up their meetings, their gatherings, their masterminding. I think there is a fee if you want to join, but it's not much. I think it's like $20 or $25 per meeting and they do it once a month. Some might do twice a month. Go there, start networking, start building up your cash buyer list. If you have a wholesale deal, bring it with you.
There are people there who actually bring their deals to that group and to present it and sell their deals.
#6: BiggerPockets.com. There's so many people on there. And it's going to be all across the board: contractors, first-time wholesalers, investors, builders, lenders, private hard transactional funding—all kinds of people on there who you can network with. Join Bigger Pockets. It is free, but if you want to upgrade to the pro member, it does cost a fee, but it is free to join. So you get the basic lay out and things like that. And it's a great way to start networking, and you can actually go on there and post your deals as well.
Besides connecting with other investors or wholesalers, you can also put your posts, your deals on there. And there's a bunch of content on there as well that you can read and listen to as well.
#7: Call all the local Realtor in your area and see if they have any cash buyers. A Realtor has a large network of people, they seem to all know each other and they all might have cash buyers. Those are where you gonna make your largest assignment fee—from a Realtor.
Call the local Realtors in the area and just say, “Hey, we got some deals under contract. Do you have any cash buyer interested in buying it?”
If you have a deal, tell them about the deal. If you don't say, “Hey, we do a lot of marketing in the area. We come across a lot of discounted properties off market. Just want to connect with you to see if you have any cash buyers or if you might be interested in a property that we do come across.”
So network with all the local Realtors, Google it and just start calling them to see if they have any cash buyers. And then, just put it on your list.
#8: ListSource.com. You can pull up all the cash transactions that happened—properties that are sold for cash. Go there and pull the lists, and then you'll be able to get the address and mail them a letter. Just say, “Hey, we're a local wholesaler in the area, we find discounted properties off market. We want to know if you're interested in being on our buyers list or maybe you're interested in some deals that we have right now.” And then have your phone number or whatever so they can contact you.
#9: Auction. Go to the courthouse steps. For us, it happens every single Friday. Everyone who’s there, they have cashier checks ready to go to, these are serious buyers, with the funds, the cash ready to go, to close on these properties. Connect with them, get their information, and then if you have deals, present it to them.
#10: put up bandit signs. We don't do it, but I've heard people who have really good results from bandit signs. Like everything else, I think it's about consistency, and it's about persistence. We don't do bandit signs here, it's just a lot of drama in our area. But maybe in your area it won't be an issue. So put a bandit sign saying, “I’m a cash buyer, need discounted property,” put your phone number. That's another great way to start building up your cash buyers list.
And the last one is a pay program created by Kemp Clothier. I think it's $97 a month or so, but you'll be able to go on there, punch in wherever you're looking to wholesale, and that system will pull all the cash buyers. I think it's 6 months or so. You'll be able to pull up all the cash transactions in a 3-month or 6-month period, and then send these people a letter or do a skip trace to find their phone number.
I would just pull the list and then send it to a marketing company. Check out GoBigPrinting. Send it to them and then they'll be able to send the marketing piece out. They'll be able to send a letter out for you, so you don't have to sit there and handwrite the envelope, if you have the funds, the cash for it. And if that's not something that you want to do and you want to have someone else ust do it for you, they can do that for you. You just send them your cash buyers list and they'll send out all the marketing for you. Just put your phone number on there, they call, and then you just start collecting your cash buyers.
That's 11 of them.
Thank you so much. You guys take care. Have a great day. I'll see you next time. Bye.
How to Find Cash Buyers for Wholesale Deals
In this short video, Brian shares his 5 favorite ways (and a bonus!) to find cash buyers. The good stuff starts only 25 seconds in…
- Closed MLS Cash Transactions
- Local Housing Authority List — Owners
- REIA and MeetUps
- Ghost Bandit Signs (see vid for example)
- Business Pros (doctors, lawyers, dentists, etc.)
- Family Members
Brian: What's going on, YouTube? It’s your man Brian. In this video, I'm gonna share with you 5 ways that you can find cash buyers for your next deal. And if you stick with me to the end, I got a little bonus tip for you on some additional ways you could find cash buyers, and a short story that may make you feel a lot more comfortable with the whole cash buyer thing.
On the top of the list is going to be auctions, the foreclosure auctions, the tax auctions. You want to attend these events and you want to just kind of watch and see who the guys are that are waving their hands, bidding on properties. Why? Because those are cash buyers. That's a no fake, no phony zone. When you win these bids, usually you have to have the money there in the form of like a cashier's check or something like that by 4:00 PM. So you can't really fake that.
And in my county there's actually like a fine, they fine you a percentage of the amount of the bid you won. So that's a place you can find these cash buyers. You may want to do what you can to network and exchange contact information.
Next is going to be getting a list of the closed transactions on the MLS. So maybe your Realtor, maybe you have a Realtor friend and you can pull up that data of cash transactions that happened in the past 3 months. And then you can reach out to the buyers of those properties.
#3, you want to go to your local housing authority in your area, and you want to get a list of all the properties that are listed on housing. You may be able to pull up this information online, but what you're trying to do is find the owners of the properties because some of them may be landlords by default, they didn't know what to do with the property. So they had to just rent it.
But a lot of these people are intentional landlords, meaning that they purchase property for a return. It's an investment for them. So if you can reach out to these owners, they possibly may be wanting to buy more rental properties or fix and flip projects. So that's another source of cash buyers.
Another one is going to be your REIA meetings. This is your local real estate meetings, investment clubs, your meetups… they have hard money lenders in there. They're going to have seasoned investors in there. They're going to have a melting pot of all kinds of people who are in the field of real estate, property management companies, everything.
So when you go to these meetups, look around the room, keep your ear out to see who was interested in buying a great deal and can close quickly with cash. So that's another source where you can find cash buyers.
And #5, I'll put this last because if you don't do it right, you can rub some people the wrong way, but it is effective and it does work. And this is called ghost bandit signs. This is almost like you're fishing. You know, you put the bait out there and you catch the fish.
So cash buyers, what they do is, they're always on the hunt for great deals. They're investors… whether they're buying it for fix and flip to make a profit or they're buying it for returns. Cashflow. They're always on the hunt for great deals.
So what is the best way to find them? Have a great deal out. Here's an example of what we call a ghost bandit sign. It says, “3-bed, 2-bath, fixer upper, asking a $40k cash” and then a phone number. And you can mix that up how you want. You can put the ARV if you want on there.
What's going to happen if it looks or appears like a great deal? Your phone is going to blow off the hook. And you can put these things at department stores, hardware stores, Lowe's, Home Depot, things like that.
When they call you, just kind of vet and check, cause you're going to get a lot of tire kickers too. You never know. You could get some wholesalers calling you. But that's a way that you could get some candidates. Buyers.
So now for the bonus. What are some other resources for cash buyers?
Believe it or not, there are so many business owners and professionals who have a lot of cash and they're making a lot of cash and they want to invest in real estate. They just, for whatever reason, maybe they don't have the time, maybe don't have the education, but you are the expert. You're the one actively out there finding deals, and they trust your expertise and would be willing to purchase a deal from you.
I'm talking doctors, I'm talking lawyers, I'm talking business owners, dentists, you name it. So these people who may want to invest in real estate because they know and they understand that real estate has some of the highest returns. So, that's an option.
I remember I was sharing with my doctor what I do. I could tell she would be interested in partaking in a great deal. Also, family members, you may have aunts or uncles who have money sitting in a 401k and it’s not giving great returns. I have an uncle on standby, he's like, “man, let me know.” So, don't tunnel vision and always think “cash buyers, I don't have any.” There's so many people who want to take advantage of a great deal.
Here's the story: I was probably a year in, but I wasn't really taking it serious. I was doing it every now and then. At the time, we didn't have any rentals. I saw a For Sale By Owner sign and contractors were in the yard. And I said, “Hey, how much is the house? What are the terms? How much they went down?” He said, “I don't know, you'd have to call the boss.” So I called the number on the sign, caught him up and I said, “Hey, I'm out here by the house. I wanted to know the terms.”
The terms and the amount is something I couldn't afford at the time. And the first thing I thought was, “Well, I can't afford this, but he's an investor. I wonder if he's interested in being a cash buyer.” So I flipped it. I said, “That's not gonna work for me. If I bring you a great deal, would you be interested in buying it? Do you buy deals? Cash?”
I was such a rookie. He said, “I may, if you got a great deal, of course.” I said, “Okay, so what do you call a great deal?” This is how you responded to me: “Well, why are you calling me? Are you looking to buy a house or sell a house? I don't know what you want, man. And if you all know what a great deal is, this is a waste of time. I gotta go.”
He hung up in my face. I still remember this like it was yesterday, and it's years ago I felt this small. But I didn't quit. And since then, I don't know how many deals I've done…
But on 3 occasions over the years, guess who called me when I had one of my deals on the market? That guy! He didn't know who I was, but I knew exactly who he was because he was a big name. He’d say, “Hey, is that deal still available?” I'm like, “nope.”
So what is the moral of the story?
The moral of the story is a lot of people preach getting cash buyers first. The reality is, when a great deal is on the market, buyers will find you, they will chase you to the closing table and they will even fight over your deal. If it's that good, they will even bid back up the price if the deal is that good.
So focus on cash buyers.
But those are some great ways you can find the cash buyers. Subscribe to my channel and thanks for watching. See you guys in the next video.
There you have it….
After all these awesome videos, you've now got at least 20 fresh ways to find cash buyers, so you can create and grow your cash buyers list to level-up your wholesaling game.
You don’t have to do them all, of course. Just pick a few that you like the most and start there. The point is to start. Today.
Once those methods are working, try others.
Now scoot… you got this.