6 Most Effective Ways to Build Your Cash Buyers List
If you are looking to wholesale properties, you will need to build a list of cash buyers that you will be able to sell your properties to. I am going to list top 6 most effective and simple ways to build your cash buyers list:
This is one of the best ways to build your cash buyers list. These are people who are actually buying properties in your area so you know they are not tire kickers and if you have a good deal, these are the buyers who will close quick with cash.
This is the criteria that you use to build your cash buyers list using Listsource:
- Your target area
- Last sale date of last 12 months
- Equity – 100%
- Property Type – 1-4 Units
- Absentee Owners
- Include – Corporate and Trust Owned Properties
Now when you pull this list together, DO NOT remove duplicates. You want to see the duplicates in your list because the people who appear multiple times are your VIP buyers who have bought multiple properties in last 12 months in your target area.
Here’s a quick video on how to create your list using Listsource:
This is another fantastic way to build your cash buyers list. In most areas in the country, anyone bidding at the Foreclosure Auctions have to purchase the properties in cash or give cash within 48 hours of the purchase, so these are serious cash buyers who are bidding on these properties.
What I would do is have my business card and a property flyer (if you have a property under contract) and give one to everyone who is at the auction. In addition to that, I would ask for their cell phone number and email address. Don’t worry about trying to get too much information from these people as you want to collect information from as many investors as possible. Once you have collected their information, you can call or email them later to find out more about their buying criteria.
Facebook is another great way to build your cash buyers list. There is a very good chance that your area has a local Facebook group where people are posting about properties for sale. If not, start that group in your area. You can get tons of people to join the group. I have been able to sell properties to cash buyers by posting on Facebook groups for FREE.
You will be able to connect with a lot of buyers and local real estate agents who are active in the area.
You can also post ads on Facebook Marketplace which is another effective way to use Facebook for finding buyers in your area.
This is one of the oldest ways wholesalers have been using to build their cash buyers list. You can post a simple ad like this on Craigslist to attract cash buyers:
Hugely discounted [ENTER YOUR CITY] investment property deals
Investment properties available @ 30-60% discount
We have inventory in [ENTER THE CITIES YOU DO DEALS IN HERE]
Check our inventory at [YOURWEBSITEHERE].com
We have both single family and multi-family properties for sale
Most properties less than $100k!
Cosmetic fixer uppers and full rehabs in our list – we have them all!
See our available [ENTER YOUR LOCATION] wholesale deals at www.YOURWEBSITEHERE.com
Real Estate Agents
Networking with local real estate agents in your area helps you in two ways:
- Build your cash buyers list
- Stay on their radar for any deals to buy
This is how I would build a database of local real estate agents:
I would hire a VA and have them scrape data from public sources to build a database of all local real estate agents in your area. Almost all real estate agents have their cell phone number publicly available so you will have great list to target.
Once you have that database, I would upload them in a bulk SMS service and send them the following text messages:
If you have a property to sell:
Hi <Agent’s First Name>, my name is <Your Name> and I have great fixer upper property for sale in <city name> and if you have a cash buyer looking for a discounted property, I would love to connect. I offer 3% commission if your buyer closes. Do you have a cash buyer who would e interested? Thanks!
If you looking to buy:
Hi <Agent’s First Name>, my name is <Your Name> and I am a local cash buyer in <city name> and I am looking to buy multiple properties and can close quick. I also offer 3% commission if we end up buying. Do you have anything that I can look at? Thanks!
Networking with other investors at your local REIA is another great way to connect with other cash buyers in your area and also have a pulse on your local market to see what other investors are doing. You can also build a network of contractors, attorneys, private lenders, etc. at your local REIAs.
I would attend the local REIA with plenty of business cards and property flyers to hand out.
REsimpli is founded by Sharad Mehta, a very active real estate investor. Sharad has done over 400 deals in last 6 years since he became a full-time real estate investor and over the years he has developed systems to automate many parts of his real estate investing. Sharad is a very active investor i See more >>
REsimpli is founded by Sharad Mehta, a very active real estate investor. Sharad has done over 400 deals in last 6 years since he became a full-time real estate investor and over the years he has developed systems to automate many parts of his real estate investing. Sharad is a very active investor in Lake County, Indiana market and he manages his entire business from Carlsbad, California, where he lives. Using the systems that Sharad has developed, he is able to manage 3-4 rehabs a month from a distance.
At reSimpli, our mission is to ‘Simplify Real Estate Investing Through Technology.’ Our team is passionate about using technology to reduce the time and energy required to build and manage a successful real estate business. reSimpli is a cloud-based system that makes real estate investing more efficient by automating tasks and helping the investor manage their business more efficiently.
We are constantly building and improving features that aid in: creating accurate and detailed scope of work for rehab projects, creating contracts with digital signature support, deal analysis tools, etc. We are a team of very active real estate investors so everything we are developing is something we find useful in our day to day investing.
Our passion is to create the best software for your real estate investing business and aim to be the only software program that a real estate investor needs to run a successful, scalable business. See less >>