HAVING A VERY GOOD BUYERS LIST

Hi Mike,

First i would like to congratulate you on your deal. Second i was wondering how do you qualify your buyers? My wife and i are very new to real estate and we are trying to figure out how it all works. Any advice would be greatly appreciated.

Thank you,
Michael

Hi

Asking them questions like

are you buying with cash
can you close in 7 days etc

you need to know what your buyers want to buy and how serious are they in buying properties in todays market

Hey Mike,

You are so right! Last December I had 2 deals with the same buyer and he was nearly unable to close, and I scrambled to "sell" in like 3 days. As it turned out, we got extensions and closed, but never again will I be without a back up for each deal. The QUALIFIED buyer list is the most important asset / tool we have.

Pfewf! Right?
Good job, great advise!

I've been trying to fimd Deans list of questions for new buyers, can anyone tell me where that is on the website?

Hey guys, where can I gen a proof of funds letter?

questions for investor/buyers

http://www.deangraziosi.com/real-estate-forums/everything-else/96548/inv...

Funding and POF letter link below

1st link below is DG site Instructions,please read and bookmark.It will answer alot of ?'s and help you navigate this site

can someone direct to a good post on builing a good buyers list.

Thanks for the link, that will help us get started.
We're still trying to get #1 deal behind us.

Thanks for the link, that will help us get started.
We're still trying to get #1 deal behind us.

I agree with the buyers list. My number 1 rule is to always set up my exit strategy before I purchase or go into a deal. I know I can get out because I set it up before I went in.

Buyers are easy to come by. I was able to really extend my list when I was wholesaling a property. I connected with another wholesaler and he took a $500 finders fee to farm out my property to his buyers. Well they then called me and I just build a strong buyers list.

I paid him the $500 when I sold it to one of his buyers. Everyone won.

Mikessler
Advisor

http://www.deangraziosi.com/real-estate-forums/everything-else/85217/beg...

here is another post that has buyers list info
jay

What a great example of the need for a good buyers list. It would have been so easy to walk away with that little bit of earnest money and say "well at least I made a little." But, you didn't give up and you proved that Dean's strategies work. Having a buyers list is absolutely crucial to winning at this real estate game! Great job!

I have been building my buyers list for years and I cant stress it enough to all my students that having your buyers when you are wholesaling properties is a complete must. I would be surprised if someone can do a deal without the buyers already lined up before you get into any deal.

Mikessler

In case you are still looking for this....http://www.coastal-funding.com/pof.html

Check with coastal funding, their website has not been working lately. I heard that they were out of business but I'm not sure. I just checked and as of today, you cannot get POF from www.coastal-funding.com. Another source for POF is www.besttransactionfunding.com and www.transactionalfunding.com.

I mainly just wanted to bump this and bring it back to the top because of the importance of having a buyers list.

When I talk with people I always emphasize the importance of a buyers list. That list is the backbone of your wholesaling business. Without it you will be scrambling around trying to find a buyer when you get a property locked up. This is not a comfortable situation to be in. If you have a buyers list, the bigger the better, then you will almost always have a buyer for your deal.

So always have some active form of marketing to help find buyers.

.

There is a site called ****. It's free to register. For the free membership you can get 1 investor lead per day. You get the phone number to contact the investors. It does take time to build your buyers list this way, but you can find and get responses from serious investors.

I'm sorry i put in a website. If you would like the name of this website private message me and I will give you the address.

great info to know.

I really like the idea of networking with other buyers to extend your buyers list! Great idea!

MikeL - I'm so excited to hear about your experience. I teach my re students on a daily basis of how important a buyers list is. You are a wonderful example of being prepared!

keep up the good work!

remember - don't ever stop adding and/or building your buyers list.

BUYERS = MONEY

Congrats!

Karen

I have always believed that your buyers list is the backbone of you business. Think about it. If you only have one buyer on your list and you find them a deal and low and behold they say they don't want it then where do you turn to sell the deal? You would then have to scramble to find a buyer. However, if you have 25 buyers on your list then you will almost always have someone that is willing to buy your deal from you.

So, if you want to have a GREAT real estate business then you have to have a solid buyers list.

That is great advice Mike. You can never have too many buyers, especially when something goes wrong with one buyer. Having several buyers keeps your buyers honest. If you are negotiating a deal with one buyer and he or she thinks I'll wait this guy out and when he drops out of the deal, I'll make an offer to the seller directly and pick it up cheaper. If this happens, your defense is to sell it to another buyer immediately. Let your buyers know that the first one to bring earnest money to the table gets the deal. Create some competition between your buyers. Also if a buyer drops out at the last minute like Mike's did, don't be afraid to ask for a week extension to put another buyer into play. I like that Mike pulled it off in a 4 day period and kept the deal together.

Thanks for sharing this example. It's a perfect reason for having a good solid list of cash buyers. We can't always predict what will happen on a deal but if you hadn't had a back up buyer it sure would have been terrible to lose all of that profit. Congratulations!

BUMP