NetworkingThe best first way to find cash buyers for your wholesale deals is to find a network, at REIA meetings, which take place in your locality. You can find a real estate investor association meeting at a website that is hosted by National REIA and then when you have found the meeting, then you should attend them regularly.
This regular attendance will give you the chance to know more about your local investors and the kind of deals that they are looking for. For example, some people want large rehabs, but others wants small, some want properties that they have to invest less into but gives them more in return when they put it up for rentals, and they want such properties that already have equity present in them.
MeetingsIf you want to know about your local investors or find diversified investors, then you need to meet them in meetings, to know what they want. You can also use a website for this purpose, called meetip.com. This will allow you to network and make other people aware about how you have wholesale properties and you are a local as well.
Landlord AssociationThere are also landlord association meetings that people attend. Those who attend such meetings are doing business and looking for properties for themselves. They either want to become a landlord and provide accommodation to someone else, or they are doing a business, and need properties for their own use. In any way, this is a great way to again, network, with other people and let them know that you have wholesale properties.
Bandit SignsBandit signs are signs that used for promoting limited time offers. They are used in case a limited time offer needs to be promoted amongst a large group of people. This is a very cost effective way of reaching customers, and it is clever as well. So, if you see a bandit sign, then you can call up the investors to see if they are interested in your deals. You can, after their consent, add their email and phone number to your list of potential buyers.
Knowing Other PeopleWhenever you attend a meeting, try to get as much information as you can of people, like their phone numbers and email addresses. This is exactly how you make a list, of potential investors. Such a list can’t be purchased and if you think it is easy to do so, then you’re wrong. You need to make a list on your own, but you have to put in a lot of time and effort for this.
When preparing a list, you should put the names on the list that you think will buy properties or are really interested in buying properties. You also need to investigate about who are the ones on your list, that are doing business, who have the finance to buy property, those who actually desire to buy the property and then those who have the ability. If you are looking to make a great list, then you need to put in the effort as well.
Great DealsIf you are speaking with investors to sell your deals, then make sure that you have good deals. This way, your deals will sell in no time. However, if you have already talked to many investors, but your deals haven’t sold yet, then this means there is something wrong with your deals and you need to revise them. You should see whether you are asking too much for your properties and expecting a lot of profit, which puts the investor in a difficult situation and he can’t buy from you.
Pro-ActiveDon’t wait for good investor meetings to pop up at your local place. You can start a meeting on your own as well. Real estate or selling wholesale properties is not an isolated business, and if you have a good network, then you can ask for a meeting with the investor group, which will bring you success.
DealsIf you have many deals, then they might not be considered unique. You need to have special deals, in less number. Also, remember, that if your properties don’t sell at a quick pace, then there is something wrong with what you’re asking for it. No matter how good it is if you’re targeting a really high profit for yourself, then things won’t work out for you.
Good InvestorsYou need to make sure that whatever deal you are offering, you have the right list for it as well. If you are offering investor mobile homes, then you should have mobile buyers on your list and not condo buyers. Similarly, if you have bought properties in areas that are distressed, then you need to consider whether you have such investors on your list, who want to buy those deals or not.
Make a list of buyers, which is diversified in nature, so that you are able to find them if you come across a deal that is appropriate for them.
Good DealsIf you have good deals, then investors would be more interested in buying them, because they can get a profit out of them. However, if they can’t make a profit, then you will have to continue looking for investors. You need to set a good reputation of yourself, so that investors come to you over and over. If you give good deals, then you won’t have to attend meetings or make up a list, because investors will look for you on their own.
Thus, the best advice here is to make a list, and offer deals, that can really benefit you and your investors.