You’ve found a great deal and now you need to find a buyer. If you’re a seasoned real estate vet, you probably already have a list of go-to buyers. What if you’re not? What if you don’t?
Roll up your sleeves and put together a buyer’s list so you can sell your property(s) quickly. Rehab or wholesale property, it’s necessary to build a buyers list. This list will be made up of investors you’ll sell properties to.
If you’re still a bit green behind the ears, it’s a good move to get lunch or coffee with other real estate investors in your area. Doing business with people you’ve established a relationship and trust is generally a more pleasant experience.
An Internet search for, “We buy houses in” in your city or a Craigslist search is a great start to find wholesalers and local REI networking groups. It’s a good idea to avoid contacting a practiced real estate investor and regurgitating a script. When they sense you are new to this, it is likely to be a turn off. Try being honest and introduce yourself, letting them know you’re new to the business and see if they’ll let you buy them coffee and talk shop.
2. MLS Cash Sales
Either your realtor or you should pull a list of recent cash sales from the last 30-90 days, then sort the sales close to your property and find out who owns them. Your county’s tax assessor website should have the information you need. Once you’ve acquired the owner’s name, a website like TLO.com should have their contact information.
Call them and let them you saw they purchased a property at whatever the address is, and see if they’re looking for other properties to buy. Inform them of your property and find out if it’s something that might be of interest to them.
3. Local REIA
Find a local REAI club in your region and attend a meeting to see if anyone might be interested in purchasing property for X dollar amount in your area. Don’t be afraid to ask for wholesaler referrals. Socializing and building relationships with the top performers in your area will be beneficial in the future.
4. Bandit Signs
A form of guerilla marketing, these are the signs you might see on a street corner or highway exit. Believe it or not, these signs can generate calls, particularly for wholesale deals. Additionally, putting up a sign that reads, “House for Sale” with an arrow will generate traffic to your listing.
5. Online Marketing
Generate a landing page where a buyer can elect to be on your buyer’s list by entering their name, phone number and email address. A quick Internet search will give you an abundance of websites that can help you create your page.
Marketing yourself is key; put information about yourself out there for any real estate parties who might be interested. Use YouTube or Facebook to post virtual tours of your prospective properties you want to sell. It is essential to include a call to action on how you can be reached if your viewers would like more information about the listing.
Network and Build Relationships
By networking, building relationships and marketing yourself, this is how you will create a robust buyer’s list. You may be a bit apprehensive at first, but it’s important to get comfortable as quickly as you can. You will need to get good at these things, so that you can build relationships and get paid.