Three good buyers are all you need!!

That is a good way to put things in perspective Michael. Sometimes breaking things down make them seem more manageable.

Or 5,000 that would be 30,000 a month...great post mike...my goal has been for the past few months is 30k....been working at it diligently...i believe itll happen...

Or just ONE buyer that wants one property a month. If you can supply the deal and make a $10,000 fee that is $120,000 a year. Develop your deal finding skills the way Dean teaches!!

Michael

Great way to look at it. Some people get caught up on they think they don't have enough buyers, when in all reality all you need is a handful of real players.

You should like 85% or more of your time finding buyers; I believe he is also looking to get those solid buyers on his list.

I know I have been working on it...I have at least 80-90 buyers on my list in which at least 50-60 AT least have to be real players. Finding them is no issue. The problem I have is inventory or offers being turned down. And some dont respond. Those are my main issues i need to get over...but i will one of these days....The other day I found 5 properties one of my buyers will like...I know ill make something happen...

Once you have REAL active buyers you don't need to spend 85% of your time getting MORE buyers. You won't be able to provide deals for the ones you have!!
Like I said if you have 3 buyers looking for 2 houses a month, that is 6 deals a month. Every one here that can provide 6 wholesale deals a month every month please raise your hand!!
When you are first starting and have no buyers I think you should spend 85% of your time building your list.

Michael

Michael, for your Golden Nuggets. When you dish out a pan of some dead-on advice it feels like I've been slapped in the face and makes me eager to go out and do it just like you lay it out here. Seriously, if we aren't doing it that way then we wont make any money!! My buyers list as changed and evolved in one year and so has my Realtors.....

he still spends much of his time on building his buyers list! He, however, does many of his deals it seems out of state, so probably much different than what you do Michael.

Ali must have a ton of properties lined up to sell to buyers. I don't know for sure. It does not matter what state, once you have your buyers, you MUST have properties to sell them. No offers, no deals, no chance of making money, period
Again, I can't speak for Ali, but in my experience, finding the deal that your buyer will take has always been the hardest part of the equation for me. In this market, money is everywhere.

I am working multiple states. Find a real deal, it is GONE!

Michael

Bumping this one. Get a few real buyers and sell a deal!!

Michael

I am reading your information.. and loving it! One step at a time and it become a journey.

Take action every day and you will get there.

Michael

Great post Michael. I completely agree. You don't need a huge list. I have only a handful of buyers that have bought the majority of the houses from me. But, it's always good to mix a little new blood so I'm constantly looking for new buyers.

You are right. Always keep adding buyers. Some will buy when others won't!

Michael

thank you, this is a great post!I have had several flaky buyers and need to find those couple REAL buyers and private money lenders!

It's like Bob Proctor says, "you break things down to the ridiculous" as far as you can to realize how simple things can be!

I got very serious about building my buyers list and the five real legitimate I KNOW FOR SURE THEY'VE DONE MULTIPLE DEALS THIS YEAR ALREADY buyers I have make it so much easier to focus my marketing efforts to sellers.

Ps, I haven't seen your signs around Mike! But I know you're killing it either way haha

God bless.

Adam

I put a few Bandits in the old area when I put out signs last Friday night. Been going to a couple of new areas in Central Denver and around Wash Park.
I actually saw a "I Buy Houses" bandit that had a Re Max logo on it!! A Realtor using bandit signs!
I found out who cuts our signs and leaves the pieces or cuts part of the phone number out. It is a national organization called, C.A.U.S.S. Citizens Against Unnecessary Street Spam. Go to there website and check them out. All sorts of directions on how to drive around and get rid of bandit signs. These people need to get a life!

Hope all is well!
Michael

I am going to put more emphasis on the quality of my buyers.... like the MARINES say "quality not quantity !!!!!!

WALT

Incredible they formed a group, I wonder where they are going to be around election time !

"I found out who cuts our signs and leaves the pieces or cuts part of the phone number out. It is a national organization called, C.A.U.S.S. Citizens Against Unnecessary Street Spam"

I have a list of over 3000 "buyers" The truth is that out of that list I may have 50 real buyers. The point I was making when I started this post(2 years ago) was that the key to this business is finding the deal. Those that are active in this business know that is a fact.

When we move into a new area we look for buyers first. Once we have a few REAL buyers in place we go into 100% acquisitions mode.

We never stop building our buyers list, don't get me wrong! But this we know. If we had to choose between the two, we would rather have 5 properties under contract than 5 buyers. Why? Buyers won't bring you deals but good deals will bring you buyers! Is it better to have your buyers lined up? Of course! But if you can't find deals, buyers do you no good.

Good Luck!
Michael

Love it, I totally agree I am going to go into 100% prop acquisitions mode here in san diego since I have a ton of buyers & like you said out of those I prob have about 10 real buyers who respond to me when I send them deals. I have done 2 deals with my buyers here in san diego recently.

See you at the edge Michael.

PS they do need to get a life those sign people.

they are high up on a pole idiots....

WALT