How to Build a Massive Cash Buyers List Fast

If your going to start wholesaling real estate it’s imperative you build a Cash Buyers list fast. This will help keep your cash flow steady each and every month if your consistently marketing to potential motivated sellers. To sustain this, you need to build a huge list of cash buyers for your deeply discounted wholesale deals. Here are five how to strategies to help ensure you always have real estate investors lined up drooling at the mouth and chomping at the bit for your wholesale deals.

Keep an eye on your local online and offline classifieds

Recently one of my student partners built her cash buyers list in Philadelphia, PA and Roanoke, VA in just a few hours spending sometime combing through the online classifieds.This is one of the most effective ways to build your buyers list. I want you to go to www.craigslist.org and your local newspapers classified section and start out with the properties for rent, these properties are going to be listed usually by the owners of the property or their property managers. If you reach a property owner or manager all you have to do is let them know you will be liquidating some properties in the same neighborhood of their property they have on the market for rent and you just wanted to know if they would be interested in expanding their current investment property portfolios. Calling and building a relationship with the property managers on these sites can be beneficial as well. Property managers are always looking for new properties to manage and will be more than willing to refer or pass your wholesale deals on to their clients in hopes of gaining future management opportunities. This is just the beginning these online classifieds not only give you access to landlords and property managers but other real estate professionals. You can find hard money lenders, mortgage brokers, tenant placement consultants, appraisers, real estate wholesalers, junk/hauling removal companies, title companies, cleaning services, and a host of other real estate professionals you can build profitable relationships with and grow your buyer’s list at the same time.

Build relationships with Real Estate Agents

Real Estate Agents

Building relationships with real estate agents in your marketplace is very important for a number of reasons when just starting out as a wholesale real estate investor. Having access to an active real estate agent, realtor or broker in your market that has a good sense of your marketplace from how much properties are renting and selling for. Not to mention they have access to the multiple listing service that is constantly updated on a daily basis with bank owned, short sale, short sale approved, estate sales, expired listings and REO properties. If you don’t know of any active real estate agents you can easily find them on social media Facebook, Instagram, Linkedin, and Twitter. You can also visit your local real estate investors association (REIA) in your marketplace where real estate agents go to network with real estate investors and market their current listings and services.

Google your city/county and the word real estate agents. In today’s market most agents are working with rehabbers and landlords these are the real estate investors that may be interested in some of your real estate wholesale deals that you want to get to know. So how do you form a relationship with a good agent? Easy. See people like to know what’s in it for them especially real estate agents they only make money if a property sells or their client buys. So when you contact these agents you need to be totally 100 percent transparent with them, let them know you are a real estate wholesaler that is just starting out and you are interested in sending them over deals for their rehabbers and landlords. Ask them how much they wish to be compensated depending on the spread 3 percent that’s pretty much standard but this can vary. It’s pretty standard that most agents are paid 3 percent after the sale of a property, but in some cases this may not be much and a fee will need to be negotiated. When you let a real estate agent know you are willing to give them a portion of your assignment fees they will start bringing you buyer’s left and right. Forming a relationship with a real estate agent can and will lead you into a network of other real estate professionals that can help you grow your real estate wholesaling business as well as supply you with a pipeline of cash buyers to purchase your real estate wholesale deals.

Cash Buyer Signs

Here is another awesome method you can implement right away that will help you build a massive buyers list from scratch. My student partner recently traveled to Philadelphia, PA and Roanoke, VA to put two properties under contract and wholesale. In just a couple of days she grew a buyers list of over 50 cash buyers using bandit signs in the vicinity of the property she had under contract. Just by using a blank 24×18 or 18×24 size sign and a king size black or blue magic marker with the message

“Motivated Seller
Cash Buyers Only
House 4 Sale only 20k
Call Today XXX-XXX-XXXX”

and placing them at busy intersections in the ground using h-stakes or hanging them up on poles with a bandit sign hanger, had her phone ringing off the hook she captured potential buyer’s names, phone numbers, and email addresses so we could send them over all the details with pictures of the property and a deal analysis. You will find even after your property is no longer available using this tactic investors will call your signs with interest in the property that was for sale. Simply let them know you currently don’t have any properties available at this time but will in the near future.

Capture EVERYBODY

Before you even think of marketing your wholesale properties you must have it drilled in your psyche that you will capture everybody’s information. It’s a must that you collect all of your potential buyers names, emails and mailing addresses if you want to become a successful real estate investor and wholesaler. We live in an age where we can send out hundreds and thousands of emails to cash buyers and close your wholesale deals in a few weeks. I’ve actually found many cash buyers the next day just from sending out emails and text on my cash buyers list. The first step is to know that you’re here for the long haul. That’s what will separate you from other real estate wholesalers in your marketplace. I started out with a Yahoo account and I was actually doing it the hard way. I suggest later on (or now if you can afford it) that you sign up with a good CRM system (customer relationship management software) This will help you set up a flawless marketing and follow up campaigns from emails to text to your potential cash buyers.

REIA Meetings

Networking is another key and essential to building a massive cash buyers list. I recommend that you join your local REIA (Real Estate Investors Association) and talk with new and seasoned real estate investor’s to find out what type of properties they are looking for multi-units, single family detached, commercial, land, mobile homes, and the locations that they like to buy in. There are many buyers who rehab houses all the time and are actively looking for deals. When you start attending these meetings it’s always great to have a business card or flyer with you to hand out. One of the most important things to do once you meet people during networking event and at your local REIA is to follow up with a phone call, text or email letting them know it was nice meeting them and you plan on doing business with them in the future. Take their business cards and save their contact information in a spreadsheet. Many people feel uncomfortable when it comes to networking if you’ve never done anything like this before your going to have to get comfortable being uncomfortable. It’s totally understandable if you feel that way all of us have felt this way before. If it makes you feel better realize that…You’re not alone, the real estate investor community is the biggest network and friendly group of people I’ve ever met, and feeling uncomfortable for 3 seconds is worth hundreds of thousands and millions of dollars later.

I”ll See you at the closing table,

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