Wholesaling Secret you should know this!!!

Thanks for the advice Makeba. What good is a "deal" if you don't have someone who will take it off your hands? What methods do you use to find your buyers? And how do you qualify strong, serious buyers? Any and all advice would be greatly appreciated.

Hello Corey,

The methods I use to find my buyers are everything that dean suggests in his books and training. You will also find all of these way on this very website. Just type in the search " how to find cash buyers."

1. I look up We Buy Houses ( your area) on Google and call every number I find for my area.
2. I have my agent send me the cash solds list off the MLS and send mailers.
3. REI Events, Clubs, Networking events ( this by far is amazing because you will find people ready willing and able to buy deals.)
4. Ghost Ads
5. Bandit sign ( 3 bed 2 bath MUST SELL Phone number, and more)
6. Other wholesalers co wholesaling deals with you
7. Online networking ( linkedin, FB, IE, Dean site, REI CLUB and more)
8. Auction ( personally meet with people who are purchasing with cash)
9. Call For rent ad's looking for landlord buyers
10. Classified ads ( buyers looking to buy and also for rent ads)
11. Other Realtors who are investor friendly
12. Hard money lenders who have clients looking to purchase deals
13. Title companies who have clients who purchase frequently
14. Real Estate attorneys

The list goes on and on.

How do you qualify them? Ask them about the last deal they purchase. When you have a deal and they want to make an offer ask for a POF ( proof of fund letter or bank statement), Make sure you get a non refundable Earnest deposit if they want the deal from you. But over all you will know if they preform if they actually close a deal with you:)

I hope that helps:)

with gratitude,

Makeba

Hello Corey,

I am happy to help. There is so much information on this site. If you explore a little you will see how much you can really learn from those of us who have been out there and taken the leap forward:)

with gratitude,

Makeba

PRESENTATION with ALL the numbers, pics, repairs and ROI will Stand OUT.

If you just give address and tell them 'go look at it', yeah right.

Give the numbers and presentation that WILL make them BUY.

Ask me 'HOW'

great information; thanks for sharing!

Thank you Makeba!!! It's like back to the basic. A lot of people have good intentions but the Proof is in the Pudding!!!

So kind of you to post this info.

Thanks for the reminder Makeba..and for listing some places to look for em...Not sure what to do today for your real estate dream...add one or two numbers to your buyers list. Hey corey, if you did find a great deal and tied it up for a few weeks and posted it here on DG,s classifieds someone(?) with a big buyers list might see it and call....

Great info. A good reminder for some and a direction for others.
It's not the chicken/ egg situation here but a cart/horse one. Yes, a horse can push the cart or pull the cart but he will pull it much easier than push it. Buyers are the horse power! Get what they want and they will pull you along for the ride. That's step one.
Then do Mike's plan for step 2. This is that sugar cube that feeds the horse and makes it want to come to you all the time for more. Isn't that what we all want, More?
This is the foolproof plan. Now, go rustle up some horses!!!!!!

Andy Sager
DG's AndyS
CFIC & IE member
2013 EDGE attendee

Thank you everyone for your wonderful comments! I am glad I can be of service to you and hope that this puts into focus something better to propel everyone forward.

I know that if your just starting out this can be a little intimidating. Focus is key and knowing where your primary focus should be will make a huge difference:)

Also I am glad to be back on DG.com. I miss being around this awesome family. You know how life and business can get crazy and now its time for me to reconnect and do what I truly love and enjoy. Helping people:)

Cant wait for all the big hugs at the EDGE and Cant wait to hear how you guys have been doing We never did reconnect and do that mastermind group LOL I say we try and start again

with gratitude,

Makeba

God bless you always.
I needed this.

Hello Makeba thanks for sharing. Also mike made a great point as well. DG has been my bible in my REI business and there are lots of great tools Dean and his students have made available to us which I'm forever grateful for.

Makeba nice to see you again and great info from you and everyone else, well back to what we love ,Jim

If I could just award 1 million points to Makeba for the above posts, that's how valuable I consider this information to be.
Lets suppose that someone wanted you to go shopping for them at the grocery store, and did not provide you with a shopping list. Do you think that you would do a very good job of bringing back what they want? It is not a good idea to bring back to someone bananas and avocados when they wanted apples and oranges. But without the proper shopping list and paying attention to what is on it, we probably would not make them very happy.
It works the same way with our cash buyers.
But I've also learned another lesson. You can't please everyone at once. Some buyers may want bananas and avocados while others want apples and oranges. It is impossible to please everyone with the same bag of groceries (property). So why not build your cash buyers list until you have 5 or more overlapping buyers who all want apples and oranges and then just go shopping for that. You will be guaranteed when you contact your apples and oranges people and tell them that you have a shopping bag full of apples and oranges that they will all be interested in buying it from you. This method "stacks the deck" in favor of you getting every property sold quickly, and it also focuses your searches. You don't have to look for bananas and avocados, you don't even have to go to the area of the store where the bananas and avocados are found. You just focus on those apples and oranges and your buyers get what they want every single time.
Maybe this is a "fruity" way to describe a process, but I hope the point is clear. And if you ever find yourself forgetting what your focus is, maybe you can set an apple or orange on your desk to remind you to stay focused and you will make more deals.

Really? The funny thing is I see those signs all over the place in Chicago ("WE BUY HOMES! No matter the condition! CASH $$$! Call ###-###-####"), yet I never take them seriously; I think to myself, "If you don't have the budget for a professional ad or a billboard, I can't imagine you have a lot of money to give for a home." But you say these could be legit, Makeba?

I ask because I found a couple of FSBOs earlier today, both around the corner from one another, one of which with a nice high asking price...finding properties is easy enough for me, but buyers/investors are another story. Think I should give these little roadside signs a call? Perhaps it is reverse psychology: the cheaper the sign (I've seen some signs w/ magic marker on poster board), the more money they have to spare for a cash purchase.

Any insight would be appreciated, since I am mounting up to make the buy soon.

Thanks in advance

Add me to your buyer's list, I'm a cash buyer in Los Angeles. Although I have yet to receive a single lead from any member of this site.

this is absolutely right Makeba !! it is a great reminder to focus on your customer and over deliver to find everything he or she is looking for including 1]area 2]price 3]size of lot 4]and any other criteria that your buyer is looking for.
I love coach Dallins "fruity" view on searching and "grouping " your buyers criteria so you can focus on the same properties and thus do less work with more profit and overdeliver to your buyers !!! very good information in this post.thanks Makeba:)
Jay

Hello Andre,

I absolutely love your comment. Thats exactly how I felt when I first started. But I have found the exact opposite to be true. You would think the pre-printed signs would bring more phone calls but I personally have found that the ones that are hand written bring better results. I am not really sure why but it could be a number of things.

1. a lot of people don't like working with places that they think are big companies or corporations.
2. the handwritten ones seem more personal and more likely to deal with a person one on one rather than a company.
3. Think Garage sale or Craiglist they are making a trade or barter.

Those are just my thoughts on the signs. But I can tell you from personal experience that the Hand written signs by far work better than the pre-printed ones for me in my area.

Test them out in your area. Try one week with the pre-printed then try the next week with the hand written. Track your results that way you will know which ones work the best for you.

There really is not a one size fits all but there is something to start with and you can make adjustments as you go along to get bigger and better results. As with all marketing and advertising you want to make small changes, track the results and adjust them from there.

I have attached pictures of two of the signs we put out last night

I hope that helps.

with gratitude,

Makeba

No attachment hmmm Its been a while for me does anyone know how to attach pictures on here? LOL !!!

I love your thinking you know I did learn from the best:) Cant tell you how many times you have helped me when we first started. I am forever grateful:) Cant wait to see you again this year. I owe you and your wife dinner:) or maybe a couple of drinks LOL

Hello Paul,
I am happy to add you to my list. Private message sent I look forward to speaking with you

BIG BIG HUGS JIM:)

First I want to at thank you for sharing your info with us. My question is that my agent was not able to pull a list of cash buyers only but she did pull a list of all the places that was sold in the last 90 days. I think I have read something about this before, but how can I look through the list and see witch ones are cash buyers?

Thank You

Your agent will not be able to get you the names of the cash buyers but what you need to get from her is the list of CASH SOLDS for the last 90 days. These are sales that were paid with cash not financing. from that list, you get to go to work Search the addresses at your property appraiser's site or Netronline.com ( for taxes) and you should be able to see the names of the new owners. Names with multiple addresses and /or corporate names are your target people to contact.

Hope this helps

Andy Sager
DG'S AndyS
CFIC & IE member
2013 EDGE attendee

Andy's information above is spot on, sometimes you will need to do additional research beyond the county assessor's office. To find a registered agent for a company name, go to the division of corporations website--usually a part of your state's official dot gov website. If you need to do additional searching to find names, phone numbers and addresses, peoplefinder.com has a 24 hour unlimited access for about 20 dollars. If you use peoplefinder, make a long list of names that you need to look up and then spend a few hours doing the necessary research.

Hello flash1457,

If your agent sent you a list of all the properties that sold in the last 90 days then here is one way you can tell if they were cash or not. Somewhere on the listing most of the time at the bottom it will say how it was purchased. Some will say FHA, VA, Conventional, Other, or Cash. Look at the ones that say Cash. Then you can go to the tax records to see who the owner is provided that your county keeps updated on the records. For example here is the bottom section of a listing that recently sold in my area. Under sold terms it says Cash Those are what I look for:

Prev OLP: Orig LP: $25,000 Mod Dt: 02/08/2014 Entry Dt: 07/27/2013
S Brk: Century 21 All-Pro Cont Dt: 12/24/2013 Sale Dt: 02/07/2014
S Agent: Vanessa Wilde Agency: Designated Agent DUC: 45
Terms: Cash Financial Concessions: $0.00
Major Rep: $ Incentives:
Concess:
One Time Showing:

Also you can ask your agent to do a search by criteria and put in the section that has additional options for Sold terms and key word cash.

I hope that helps.

with gratitude,

Makeba

Hey Makeba, I love reading how you all are doing! I was wondering where you had been, now we can see, you guys have been cranking! Glad your coming back to the forums more now also, ready to hear some nuggets that you have to share.

This is so true. I found a wholesale deal on craigslist with just an address and price. I called the "investor" and asked for photos and what he considered the ARV to be, repairs etc. All he said back was "NOPE, I don't supply any of that so the investor is solely accountable for his own due diligence".

I never want to call that guy again now or work with him. It was just terrible how lazy he sounded.

I agree your buyers are so important. You might have a whole list of tire kickers and you don't know that until you bring them a great deal. If you don't have any real buyers on your list go get them, it is up to you to sell your deal. If you can't sell it than more buyers will solve the problem.

Thank you Makeba. I totally agree with you. It's all about the Buyer and our Buyer's List. Once you know what your buyer wants, you just go shopping for them.
Pat