How do I find buyers to sell my properties to? That is the ultimate question in today’s buyers’ market. Gone are the days of sticking a For Sale By Owner sign in the yard and receiving multiple offers within 24 hours.
No, today’s market dictates that you have a plentiful supply of ready buyers to whom you can sell your wholesale deals. In this article, I’m going to show you some of the very best ways of locating wholesale buyers. Generally, these will be buyers that are willing to pay cash for your deals.
One of the very best ways to find buyers is to figure out who has already bought similar property in your market. To do this, you’ll need to find a list provider like RealQuest.com, MelissaData.com, or even the tax roll in your local county. What you want to do is get a list of investor buyers that have purchased houses in the last 6 months within the area(s) where you want to sell wholesale deals. These will be absentee owners for whom their mailing address differs from the property address. You can use zip codes to narrow down the relevant area. Once you obtain this list, mail everyone on the list a postcard. Your postcard need not be anything fancy. I like to use the U.S. Postal Service’s system available through Click2Mail. Just send a simple card with message on the back of the card stating that you saw they bought a property in the area recently and wondered if they’d be interested in a deal you have available. Drive them to a website squeeze page to capture their contact information (so you can add them to your email buyers’ list). After they enter their info., direct them to the website where you display your deals. The big advantages to this method over all others are 1) you’re capturing their contact info, so even if they don’t buy a deal from you now, you’ve got their email and can contact them about future deals; and 2) you know that these buyers are legit because they’ve already shown the ability to close on similar property.
Another great way to find wholesale buyers is to blanket the area around your deal with bandit signs. These are the ugly 18″ x 24″ coroplast signs you see everywhere on the side of the road and on telephone poles. Yes, they’re ugly, but they’re effective. On the signs, hand write a simple message like this – “3 bed/2 bath house, needs work, worth $100k, will sell for $40k CASH”. You’ll get a ton of phone calls from these signs; the caveat is they won’t all be qualified, so you’ll need to sift and sort a bit to find the true players. One word of advice: make sure you or someone working for you is able to pick up the phone when buyers call.
That way, you can also request their email address, and you don’t have to worry about them not leaving a message.
A third way to find wholesale buyers is the use of social media. This is a relatively new method, but your competition is already likely building their buyers’ list through websites like Twitter and FaceBook, and you should be doing the same. The best way to do this on Facebook is to join every real estate-related group in your area, then friend everyone in the group. Also, consider forming your own group and attract buyers to you that way. On Twitter, make sure you provide great content in your posts, and people will begin to follow you.
Then, when you have a wholesale deal available, post it to your accounts.
There are many other ways of finding wholesale buyers that work in today’s market, but for the purposes of this article, I’ve focused the discussion on three of the best methods that I know are working today.
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