OfflineI have read and searched for several days and have not found an answer. This is my first time to post a Forum Topic so I am a little worried as I don't want to break any rules (which I have read) out of ignorance.
The buyers list is of utmost importance. One can Google "I Buy Houses" and there are 135,000,000 results returned. I would like to start a thread that would provide answers and suggestions to the best way to qualify these buyers.
There are many ways to contact them, just reply to their web site email addresses, one's own email campaign or contact them by telephone, etc. Please provide the basic 1,2,3 of how you did it if you are willing to share with the rest of us that would want to be expeditious with our time and obtain solid leads. Help us elevate the trial and error method. Provide suggestions regarding how to make sure the lead is not a fly by night or just wasting our time. With 135,000,000 responses one would hope they would all be sound positive leads but that may be a little too much to ask.
There are those of us that may have a problem thinking outside the box; especially, if new to the game. A little holding by the hand and explaining how you did it would be a benefit to many and give the old hands ideas of which they may not have thought. OK, I hope this post will be OK. Thanks.
Many of these people that place the "we buy houses" ads are having trouble buying houses - if you know what I mean... I would recommend that you go out and meet people the old fashion way. Not having to wonder if they have money. Meet them at an auction setting. You know they have cash, there is no mystery as if they have funds - they are right in front of you bidding! Go to your local courthouse and find out where the next forclosure auction sale is! Meet these people, do some research on the homes that are being sold! Stroke these peoples egos, congratulate them on their conquest. It will pay dividends. I hope that this information helps!
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If you are just starting out as we all did at one time, I would suggest that you join your local REI club. It will put you in contact with investors just like yourself. There you will network with other investors, ask questions, gain some exposure to your local market and best of all you get your name out there. Let them know you are brand new to investing and looking for suggestions. You should have plenty of business cards to hand out and prepare a list of questions. Just google real estate investor clubs, I am sure you will find one close to you. Good luck on your journey...Jan
Great question.
Dean and many students teach us to interview our potential buyers and feel them out by asking questions as to what kind of deals they are doing, access to funds and how fast can they get their hands on it, etc.. I suppose you could also request a proof of funds document but that might be insulting.
I certainly don't mean to question your wisdom on this Salden I just think there must be a lot of feasibility to all the other means of finding buyers that we are taught. Of course I totally understand the value of the technique you suggest as it weeds out those who can't get the funds.
I do know that one other technique taught by Matt Larson is to ask an agent for a list of properties sold to cash buyers. This gives you the buyers that actually had paid cash for recent deals. Genius!
Hopefully this will spawn a lot of other creative methods.
That's what I love about this place.
Resptectfully
Steve
"Do something you LOVE and you will never work another day in your life."
"Nothing can ever stop you without your permission."
"So long as you haven't quit, then you haven't lost."
Thanks for the suggestion. At least they one will know who has the funding. I will follow up on same. I would like to work you you in the near future. At present, I am still doing research to be able to make informed decisions.
Thanks again,
MDL
Thanks for your reply. I have not checked the REI clubs yet but it is on my to do list. I also plan on checking out the internet "meetup" groups to see what is available in the RE arena. As a matter of fact, I will be doing that today.
Is that the way you did it? What were your 1,2,3's when your were a neophyte?
Have a blessed day,
MDL
Dean and many students teach us to interview our potential buyers and feel them out by asking questions as to what kind of deals they are doing, access to funds and how fast can they get their hands on it, etc.. I suppose you could also request a proof of funds document but that might be insulting.
I certainly don't mean to question your wisdom on this Salden I just think there must be a lot of feasibility to all the other means of finding buyers that we are taught. Of course I totally understand the value of the technique you suggest as it weeds out those who can't get the funds.
I do know that one other technique taught by Matt Larson is to ask an agent for a list of properties sold to cash buyers. This gives you the buyers that actually had paid cash for recent deals. Genius!
Hopefully this will spawn a lot of other creative methods.
That's what I love about this place.
Resptectfully
Steve
Thanks Steve,
Very good suggestions and easy way to get information quickly. In my area, the auctions are every several months. I suppose I would have to contact different areas to hopefully find something working sooner and that is not an extreme distance from my present location. Dependant on the distance, the reward would be worth the drive. RE agents are everywhere.
Thanks again,
MDL
Read our chapter in Dean's latest book Your Town Your real Eastae Profits. It explains the whole whacky ordeal. but thanks to Dean and the many friends that we have on this site, Jeremy and I have gone on to become a LLC with investment props here in upstate NY. But the REI club is a must. Yes the buyers list is very important, but you need to network with other investor's to test the waters...Jan
Jan,
Thanks for the reply and the info. I am making like a sponge and trying to learn and retain as much as possible. The "To Do" list seems to be getting longer and longer. Have to set the priorities, plan the work then work the plan. Thanks again,
MDL