OfflineI just had a quick question that I hope the dg family can help me out with. Why is it that most cash buyers seem so elusive, standoffish, or unresponsive?
For example I am working on a few deals that are really good Turn Key Cash flowing deals. Even my realtor who I sent these deals over to said they are really good deals his buyers would love these and he can probably get me more. So I've been marketing myself to find cash buyers for these deals and I have been getting some phone calls. But why is it when I talk to these buyers, the phone calls are always rushed, they are never EVER fully interested ( for some reason my deals don't fit there criteria), never want to divulge what there buying criteria is, and if by email are really unresponsive.
Now I can understand if I didn't do my homework. But I laid it all out for these buyers to make it simple. I gave them all the annual numbers including water, insurance, maintenance fees, property management fees, and Cash on Cash returns between 14%-30%. Is it something that I am doing wrong?
Very frustrating.
I would say it's because cash is king, and you've got a lot of people seeking these few cash buyers. They can be very selective. Just my 2 cents.
- Tom
Yeah, buy you would think if I have good deals they would be interested in what I have to offer.
http://www.ohhomebuyers.com
Sounds to me like you need more cash buyers on your buyers list. It'll come, just keep plugging away.
I bought one property with cash....and now everyone wants me on their list, but I don't really have big pockets and my buying power is quite limited in the world of real estate. I'm just sayin......maybe some of them just talk a lot.
Also agree with TDS Prop. The more they've been in business and the longer they've been doing this, the more connections they have.
Just my 2 cents...
You will find that 95% of people that claim to be buyers aren't. That is why you must never stop growing your cash investor buyers list. Notice I said cash INVESTOR buyers list. Like Margaret stated above, they are a TON of people that paid cash for their house, but they are not investors.
If you have really good deals that an investor will realize a 15% or better ROI they will buy. Do you actually have the properties under contract? If you don't that can be a problem with real investors.
You are taking action! This is how you will learn what a real deal is and meet real buyers!! Good work and stick with it. It may take a little while to build your network. Don't get frustrated, change or increase what you are doing. Keep your head down and moving forward!!
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
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http://www.mdlodeals.com Tenant/Buyer site