Welcome to part 5 of the real estate investing wholesale mini-series! You might be wondering why I have been doing this for the past 5 weeks, so I will tell you! Wholesaling in real estate is not everyone’s method of real estate investing, however, the skills necessary for wholesaling are necessary for almost all methods of investing. Knowing this information will help you make better decisions and is an “in” for those who have no idea where to start in real estate investing.

As I have said in previous episodes, many of the things I break down for you are not in chronological order of steps you need to take. Most of these things will happen or should happen simultaneously. It might sound like a lot, but they all work together and once you figure out how each part should work, the money starts really coming in.

Listen to the episode here!

How Do I Find Buyers?

You are typically looking for cash buyers and private lenders. These would be people with 401ks or TSB or people with mountains of cash but did not want to deal with tenants and the active side of investing.

So, where do we find these awesome cash buyers?

  • Social media groups. I’m not kidding, they have groups on Facebook, LinkedIn, and even some websites (BiggerPockets) dedicated to finding cash buyers.
    • When I talked about the autoresponder in the last episode, this is super important for any online looking you want to do for cash buyers. Check out the episode here and the link I put in there for a few options on responders.
    • Using the autoresponders that send buyers to your webforms is one of the best things you can do. The internet is forever, guys. The links you plant on social media and on investing forums will still work 5 years after you put them there. It will still bring you in some buyer leads, even if you are not actively planting your links to your site or webform pages anymore.
  • Create a webform for the interested buyers you find on the internet. Have them sign up on there and collect all their contact information and the kinds of properties they are looking for so you can start building a list.
    • If you would like to see an example, you can head to www.drmattsdeals.com where you can see my webform and the questions I ask potential buyers.
    • It’s a custom website that we pay $10 a year for the domain name. It’s easy for people to use and it’s cheap for those who haven’t created a site and landing page for your real estate investing.
  • Check out episode 89 (linked above) for more information on why you need to tag buyers with what they are looking for and how to send the deals to them.
  • Getting the buyer leads from your online groups and sites is a great way to go. However, you need to know that there will be people who want added to your list and they may not buy anything for a year from you. It will happen and that doesn’t mean you should get rid of the buyer! They are cautious.
  • Craigslist might just be your best friend. We frequently will post Craiglist ads on the average deals we do (without pictures) and have them run in areas with high income. Such as the Bay area in California or Orange County.
    • We let them know where the house is and all the details, like how much renovations are and what the market value is. We post a link to our webform and allow them to contact us at their convenience.
      • Don’t forget that Craigslist will kick your ad off the site if you use a phone number that is not a local area code to the city the ad is placed in. They won’t tell you that they have kicked you off, they just do it and you wonder why you aren’t getting any leads.
    • The deal you post on Craigslist does not need to be an active deal. You want to garner interest in your deals and you can offer them the chance to be on your wholesale list of buyers to contact when the next deal comes around.
  • Never hold out on sending a deal to your list of buyers because you only have 5 people on the list.
    • Send your deals to those 5 people and they might have a friend who is interested in a particular deal and they sign up to be on your list.
  • Email lists are awesome, but you have to be doing other things to market your deals to buyers. You can try text blasts and the groups and you can still do direct mailers.

Hot tip: establish a relationship with your buyers! It’s great to know exactly what they are looking for so you can give them first pick of a deal. This will motivate them to buy the real estate property quicker than sending out the blast to everyone.

Don’t Forget!

If you love the returns of real estate investing, but don’t want to deal with any people, you have the option to be the bank. You can be part of a trust or a fund. Right now, I have a fund set up for accredited investors with over $5 million in assets. The fund has preferred interest and 70% profit sharing. Visit me at investwithdrmatt.com to find out if you have the opportunity to invest with us.

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