Create a Buyers' List

Create a Buyers' List

I've recently had conversations with a few people interested in property wholesaling. If you can locate the correct leads, wholesaling real estate is a fantastic market to enter since you can quickly and easily turn a profit. Yet, a list of potential purchasers is essential before you can sell them quickly. A wholesaler's buyers list is a crucial asset to the success of their company. Wholesalers that have a well-organized list of potential purchasers might more quickly turn a profit when selling a property.

Where can I find potential purchasers?

Buyers can greatly benefit from getting involved with a local real estate investment club. It is crucial for you as an investor to know and maintain relationships with other local investors. When you meet a potential investor, be sure to ask what area of the industry they prefer to focus on. It's possible that some of the investors in your local clubs won't want to acquire homes from you because real estate isn't their specialty. Those who seek out such bargains, though, are fantastic. Your first stop while compiling a list of potential customers should be the members of your local real estate investment clubs, as you can rest assured that they are, in fact, investors.

Signs and newspaper ads are another way to reach potential customers. Make a note of the phone number from any ad that you come across that reads "We Buy Homes" or something similar, as this is likely to be an investor. You can just call the investor as soon as you get home. Explore their real estate preferences to learn more about them. Keep thorough records and make detailed notes on every discussion you have.

Your local Section 8 office might be a great place to find a list of potential purchasers. Get a list of local landlords by calling or going to your local office and asking for one. This will provide you with a sizable database of people who have expressed interest in purchasing real estate. Once you get the list, it is imperative that you contact each investor and speak with them to learn more about their investment criteria. In addition, you could look for a burned-out landlord who is prepared to sell you their rental property or properties at a reduced price. In addition to assisting in the compilation of a purchasers' list, this simple action may also yield some promising leads.

Take careful notes as you compile this list of names. Get as much information as possible about each person, including their contact details. The email address is an important piece of information. If you have a property and a list of 100 interested parties, you can contact all of them in a matter of seconds by sending out a single email. This method is even more effective than the one I'll describe next for swiftly turning around rental properties.

What do you do now that you have a buyer's list?

Having your list of potential purchasers in some kind of order is the next step I suggest taking. You should do this since doing so will eliminate numerous potential problems. It is much simpler to wholesale if you have your list organized into four categories: A, B, C, and D. It's possible that the people who make it onto your "A" list are the ones who can bring in money within a week. Loan applicants who have already been pre-qualified for a certain amount could make up your "B" list. Clients who haven't yet been pre-qualified but who you think may be able to secure financing in a month could make up your "C" list. If you don't think they'll be able to get the funds elsewhere, they might as well be on your D list.

This method will be helpful regardless of how you choose to divide your list. Until you find a buyer and close the deal, you should work your way down your list of potential buyers, starting with the most important names.

Having a website where you can post photos and details about your home has also been a big help to me. The good news is that this is no longer necessary thanks to a new tool my friend has developed that allows you to list your properties and make them viewable by the general public. Please visit http://www.reaudiotips.com/mikecollins.htm to hear an interview I did with this gentleman and learn more about his program.

With any luck, this article has been informative, and you'll be able to attract a larger and more dedicated clientele. To learn more about wholesale strategies and other investing methods, please visit http://www.reaudiotips.com/.