Can’t Find a Cash Buyer for your Wholesale Real Estate Deal?

Finding a seller is only half of the battle my friend in fact it’s pretty darn easy. If you don’t have a buyer you don’t have a deal. Luckily for you I have some effective strategies you can implement in order to find a cash buyer to close your wholesale deals even if your just getting started that can help.

1. Joint Venture with another Wholesaler – Is 50 percent of the wholesale deal better than a big FAT ZERO? Of Course. Many real estate wholesale investors are willing to split the profit 50/50. Meaning they will invest time and even money to locate an end buyer for your available real estate wholesale deals. If you don’t have a real cash buyers list built yet I highly recommended reaching out to active real estate wholesalers in your area and partnering up with them.

2. For Sale By Owner Signs – It’s a must that you put it out to your respected marketplace that you have a property for sale. Use signs that have the house information(ie. Beds, baths and price) and your phone number on it. Put these nearby and in front of the actual house you have under contract. You’ll be amazed by the results. It will generate calls from potential investors that are cash buyers.

3. Craigslist, Meetup Groups and Facebook – Their FREE, EASY and EFFECTIVE ways to find cash buyers for your wholesale deals. Use these websites to show thousands and thousands of people the investment property you have under contract and looking to wholesale the real estate to them.

Dealing With Shady, “All Talk No Action” Fakers?

These can really kill and sabotage one of your wholesale deals! The easiest solution is to pre-screen all of your potential buyers. I don’t care who it is! Make them show you a proof of funds statement or approval letter from a lender and make sure a non-refundable earnest money deposit is made by the potential cash buyer with your title company. If you don’t do this in the beginning you’re in for a rude awakening when your deal falls apart.

Get a Investor Friendly Title Company on your team.

Without a title company involved there is no way you can make any money wholesaling real estate. You can find a investor friendly title company several different ways. I would recommend visiting your local real estate investors association/club there is always a title company hanging around looking for more clients. You can find an association or club in your area by visiting www.nationalreia.com. Make sure you ask the title companies you come in contact with if they conduct settlements for wholesale deals or assignment deals. Always remember to be persistent in this business. I’ve had deals where I had to constantly call the cash buyer, motivated seller and the title company to make sure the wholesale deal is going as smoothly as possible. If you don’t want to take the time to do this then pay someone to do it. We call them transaction coordinators Either way if you’re not persistent in this business you will fall on your face every time.

See you at the closing table,

Marcel Umphery the “R.E.I. Successmaker”