If you’ve decided to pursue real estate wholesaling or flipping there is one thing you must know.
How to get your properties sold. It doesn’t matter if you have your own properties or just have one under contract, having direct and quick access to cash buyers will make things incredibly less stressful.
But how do you meet and connect with cash buyers? Today we’re going to discuss 6 methods you can use to start building your own pipeline/reservoir of cash buyers.
#1: Property Signs
Personal property signs are widely used by those intending to market their properties. These signs are placed directly on your property letting passers know that this property is indeed for sale. Not to be confused with “bandit signs”, personal property signs are more direct in selling and are intended to connect you with interested buyers for that specific location.
When designing your property signs, be sure to use bright colors and a font size that is easily readable by passing traffic. They should also be placed in strategic locations and angles that allow for maximum viewership.
If you have multiple properties, I suggest keeping a record categorized by visual features so that when you do receive a call, you can accurately recall details about the property to answer any questions the prospective buyer may have.
#2: Bandit Signs
Bandit signs are another heavily used tactic that helps you build a cash buyer list for current and future properties. I’m sure you’ve seen bandit signs in your day to day travels. They often say things such as: “We Buy Houses” and We close in X amount of days cash”. These contacts are excellent sources for building your cash buyer list.
You should make it a habit to take down the information when you see these signs, they usually have a direct phone number or an email for contact. Don’t worry about reaching out to these individuals for your own property deals, they are looking for leads, and you can supply them. It’s a win-win scenario!
#3: Paid Ads
Paid ads is another excellent but often overlooked method for finding cash buyers. PPC (Pay Per Click) ads using Google AdWords or Facebook/Instagram can be a great source for finding cash buyers. You can either run your own or look for existing ads that are being run by existing cash buyers. Using this method is often competitive, but if you find the right keywords and use the right targeting the results can be predictable and profound. Having your own website and optimizing it with SEO can help you edge out your competition.
Yes, Craigslist can be a great tool in your war chest for finding cash buyers! There are a variety of ways to use Craiglist and similar classified ad platforms to grow your cash buyer list. You should begin looking for property listings as most of the properties being list are from investors in your prospective market. Even though they are posting as sellers, there is a great chance they are open and actively looking to buy new properties to fill their existing portfolio. You should also make note of the real estate agents promoting their properties. Reach out to them and explain what you do and see if they can pass along your contact information to any associates in their network.
#5: Real Estate Auctions
The gold mine of cash buyers, aka real estate auctions. Many real estate investors attend local auctions fairly consistently. Most auctions even require you have personal financing making the number of cash buyers in attendance even more plentiful. A lot of investors leave auctions without making a deal with cash in hand, making them a gold mine for pitching your deals.
Find a mutual connection that can get you inside of your local auctions as many have requirements on who can attend. Do your best to network with any and everyone and build up your own personal network by giving value in the form of new leads to hungry prospective cash buyers.
Not everyone will be ready to make a deal on the spot, however having them on your list is sure to result in a mutual deal somewhere down the line.
#6: Local Real Estate Clubs & Networking Events
Peer to peer networking is great way to meet cash buyers and other potential deal makers. You should be able to find plenty of local clubs and events in your area. There is almost always a portion of each meeting dedicated to networking. This is a great opportunity to network and connect with local investors. Even if you meet someone who is not a direct investor, they are almost sure to know someone who is.
These are just a few methods that you can use to start building your cash buyer list. Whatever you do, just make sure you make each encounter an equal value sharing ordeal. Plenty of investors would love to work with someone who can consistently bring deals to the table!