More important than finding properties to sell is finding cash buyers to purchase them. You don’t want to sit on an investment for longer than you need to, after all, wholesaling real estate is typically a contractually time sensitive gig.
By building a list of viable cash buyers, you are setting yourself up for quick profits. You’ll have to get creative when you’re starting as a beginner wholesale real estate investor. Below are 7 actional tips for building a cash buyers list to help get you started.
Table of Contents
Tax Assessor Websites
You can access ownership information through your local tax assessor website. Look for homes that are owned by an LLC or for owners with multiple properties in the area. These two criteria are telltale signs of real estate investors that are potential cash buyers.
Oftentimes sellers are also buyers. Many property listings on Craigslist are posted by real estate investors in your market. You should be able to retrieve their contact information and reach out to them. This strategy can also be used to find real estate agents that are marketing properties for investors.
Real Estate Auctions
Think of real estate auctions like networking events. Who goes to real estate auctions? Real estate investors who are interested in quickly purchasing a property with cash. The best part is that only one real estate investor can “win” the auction. This means the remaining outbid players still have the cash and the desire to purchase property. You can let them know who you are and what deals you have to offer.
Real Estate Investing Software
Staying up with the latest technology will provide you with an edge over the competition. Real estate investing software amplifies the effects of your hard work and should be the backbone of any serious modern real estate investors business. One of the leading real estate investing software solutions for wholesalers is FreedomSoft. FreedomSoft includes the following features:
- Cash buyer leads
- Motivated seller leads
- Website builder
- An email marketing system
- Property valuation software
- REI contract generator
- Social Media integration
- And much more!
Time is money. Automating repeatable tasks and streamlining your business will free up time for you to search for new properties and capture cash buyer leads.
Face-to-face networking is an excellent way to build rapport in an increasingly digital marketplace. Look up local real estate investing clubs and REIA meetings in your area, get your cards ready, and start networking. You can meet tons of real estate investors and people who are familiar with the market.
Your local public record’s office has information on every sale in the area. Whether access is allowed to these records varies from county to county, so do a quick Google search of your local public records office to find out. You should look for properties that are recorded as having no mortgage lien. This typically indicates a cash buyer.
Personal Property Signs
In the age of social media, property signs (aka., bandit signs) may seem old school, but they can still be effective. While social media is great for reaching a large audience without the restraint of geography, property signs are targeted directly to your target audience, that is to say, locals looking to buy real estate in your area.
Start Building Your Cash Buyers List
Now you have 7 viable ways to start building your cash buyers list. You can act on many of these tips right away. Hop on Craigslist, check out your local tax assessor website, sign up for a networking event, or browse your county’s public records. You’re now a few steps closer to making your first sale.