OfflineI just found an easy way to create a buyers list. I went to google and typed in "I buy houses" and received Results 1 - 10 of about 36,800,000 for I buy houses. That's 36 MILLION HITS. You can narrow it down to your area and you will get specific hits for that area. For an example if I type in "I buy houses NY" I get Results 1 - 10 of about 634,000 for I buy houses NY. So, try it out. This will help you get a buyers list.
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"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
thanx for that tip, really helps! i just started out here and i can use every tip possible, so thanx again!!
and thanx to my whole new DG family for all those great forum posts! couldnt do it with out you guys!!
Hi Jack,
Go to www.dnb.com. That webiste will explain all the details about duns and bradstreet number.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Whether you plan to rehab or wholesale, you'll need to build a buyers list. These are the investors to whom you'll sell properties. If you plan to wholesale, these folks can make you very rich.
If your goal is to rehab, from time-to-time you'll come across a property you can't do because of a lack of finances. Call the investors on your buyers list and make some quick cash selling the property to someone else.
The first step is to run an ad in the paper that says something like:
Handy, investor special
Great deal for rehabbers!
555-555-5555
OR
Investor special
Thousands below market--Won't last!
555-555-5555
When investors begin calling, get their information. Take their name, number, fax, and email, and put that information in a database. Then the next time you find another deal, you'll have a list of buyers. Run your ads for sixty to ninety days. Even if you sell your property the next day, keep the ads running.
Tell the investors that the property sold; however you are working on another, and ask if you can you call them once the deal is finalized. They will always say, "yes." Our buyers list has close to one thousand names. We have been collecting them for years.
Every time we get a deal under contract, we fax and email our list and boom--the deal is gone. It's awesome! Remember, the faster you find a buyer, the faster you get paid.
Here are some sample questions to ask potential buyers:
What is your name?
What is your phone number?
Do you have a preferred area?
Can you close with cash immediately?
Can I call you in the future with good deals?
What is your price range?
What level of rehabs are you interested in? Find out if they do simple cosmetic changes like updating baths, kitchens, or changing carpet, or if they can handle major jobs such a foundation issues or fire damage
Okay, (name), this property is located at (address). I would encourage you to go look at it right away. Based on the number of calls I have received so far, it Won't last long
If you don't end up with this particular piece of property, I will call you with the next one, okay?
I need your fax and email, so I can send you information on my next deal
How many rehabs are you looking to do each year?
Are you interested in rentals?
What are your criteria for rentals?
Great! We'll be in touch!
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
I know this is a stupid question,but once I type in "I buy houses"on google.How do you know which is which?I mean theres alot of them.How do you narrow it down?Which ones to pick?It would be really helpful.
Thanks
Deli
A clear and innocent conscience fears nothing
Queen Elizabeth-
THERE IS MONEY TO BE MADE BUT NOT IF YOU KEEP SPINNING YOUR WHEELS,AFRAID TO MOVE FORWARD.JUST DO IT AND DONT LOOK BACK.AT SOME POINT YOU HAVE TO TAKE YOUR CHANCES AND PROCEED.
Thanks
Deli
A clear and innocent conscience fears nothing
Queen Elizabeth-
THERE IS MONEY TO BE MADE BUT NOT IF YOU KEEP SPINNING YOUR WHEELS,AFRAID TO MOVE FORWARD.JUST DO IT AND DONT LOOK BACK.AT SOME POINT YOU HAVE TO TAKE YOUR CHANCES AND PROCEED.
Jason, from the time you began this site I knew you were a go getter. Thanks for the information. After all this wealth of information offered, we could develop a magazene, for the newbies. When they talk about "live and learn", they were speaking about the DG family. We live and learn everyday. God's Blessing on us all.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
Saundra,
Thanks so much for the compliment. I try my best and I want to do well with this real estate investing. I read Deans book and joined the mentor program. I think a magazine would be great for newbies.
Keep up the good work.
Jason
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Thanks anyways!!
THERE IS MONEY TO BE MADE BUT NOT IF YOU KEEP SPINNING YOUR WHEELS,AFRAID TO MOVE FORWARD.JUST DO IT AND DONT LOOK BACK.AT SOME POINT YOU HAVE TO TAKE YOUR CHANCES AND PROCEED.
Hi Royprncss, you will need to search the "i buy houses" in your specific area using google. You may want to try different wording like i buy houses in nyc for example.
Just start calling the some of the results and you should get some buyers from those searches. Also craigslist is good too and your local newspaper.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Jason,
that's good info, thanks for sharing this with us. I appreciate your contribution here from your experiences, as well as the others I'm sure by their responses. You're the BEST!
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I've been focusing on the pre-foreclosures that have a significant amt of equity like Dean advises. I send postcards to 5 properties that have serious potential even though I have yet to do the drive by to see if they are the "ugly" homes we are looking for. Unfortunately, I won't be able to do so 'till the weekend, but I can't wait. In the meantime, I am going to compile a buyers list. I feel sad sending marketing material this time of year with the holidays coming....almost seems cruel, but at the same time I could really end up helping someone in the end. I am taking action even though, I am a newbie and shall learn as I go along, plus the users on this site are super resourceful so I know I have a ton of advisors on my side! One step at a time. Send me lots of positive energy!!!
"The greatest mistake you can make in life is to continually be afraid you will make one."
Elbert Hubbard
Posted ad on CL last night and it was flagged:(...The ad was super brief (Investor special...Thousands below market--Won't last!Send email for more info!)and to the point so I am unsure as to why it was flagged, but I placed another one up this morning that reads ..Investor Special Great residential property, single family home, great school district. email for detailed info. Sometimes ads are flagged in arror so hopefully this on doesn't get flagged and I can build my buyers list. It was only an obstacle, but figured I'd share and see if this happened to anyone else.
"The greatest mistake you can make in life is to continually be afraid you will make one."
Elbert Hubbard
Hi Jason. We are new to this site, although we joined Dean's team about 6 weeks ago. We got so excited reading your suggestions and plan to implement them this week! What great information. We will keep you posted on how we are doing!!
Thankyou so much for this fantastic tip! Im all over this idea! building a buyers list is just what ive been contemplating today! I see potential deals all over the place around here in Redding Ca,. Im moving forward slowly one step at a time. Thanks again everybody for all the great sharing and advice!
TDavis
Hi everyone. There is so much great information on this site! Thanks to all of you who have given us "newbies" so much helpful info! We have found several great investment properties and we are getting a pretty good buyer's list. Our problem is that all of the homes we are interested in are bank-owned. We have heard again and again that banks DO NOT like assignment of contract. We have no money to purchase the props and re-sell them, so we were wondering if anyone had any ideas of getting around this problem! Thanks in advance!!
5HEnterprises, I am new also. But I do know that that's true, banks don't want to see assignments. Have you gone to any REI clubs in your area? Try networking those and look for a hard money loan. You can find someone with private money, they usually charge high rates to loan, but it might be worth it if you have a killer deal. Maybe you can get a loan, buy the prop, and then resell a bit later. Try coastal funding, they loan millions!
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
I understand that you can put in "second buyer" instead of and/or assigns. This seems to calm the banks.
I did an internet search for buyers in Pa it was very disappointing. I did variations of the "I buy houses" with only 2-4 results until I changed the "I" to "We" Then I got close to 7,000.
Thanks!!!
Kat
Hi all I know this is off the buyers list topic but it does address the above issue. I found a short sale funder. I have not personally used them but their program states they will fund your deal for you for a 24 hour period which means if you are reselling immediately it can hold you from one close to the next. Hope this helps.
Ericka
http://www.ivisionaryfinancial.com/
If anyone uses them please post and let us know about the service. I have never heard of this kind of lending.
Hello i'm a newbie and i just wanted to know once you get your buyers list and you generate the info you need from them and they decide there gonna buy the house how do you get your percentage.Would you make those specific arrangements with the seller first, and would this be like the iee program that Dean talked about and if so whats the percentage that you ask for.
Sareena's Empire
I am new to. This site has been so helpful!!! You guys are great. I would be interested to find out the answer of this to. If it is posted some were else can you please refer me to this.
Hi, I was wandering if anyone has an e-mail template so i can send to potentioal buyers? It would realy help!! A million tanks in advance!!
Stop thinking just DO IT!
Hello to everyone, I'm a newbie..I have read Deans' book and I am really excited to get started, really scared too...My question is: If I found a foreclosure and offered the seller a below FMV price, how could the seller pay off his/her obligation to the bank, If they sell below what they owe..I just don't see how that could be a win/win..I'm sure that I am missing something...
Thanks for the great info on how to build your buyers list.
Thank you for your very helpful info. We'll give this a try.
Lea
SPR Property Solutions, LLC
Thank you for the good ideas here. I am going to try them out to see if I can build more buyers in my area as well as find funders.
I am new to blogging, but this is a great learning center! I will come by here more often.
Education is not the filling of a bucket, but the lighting of a fire. --W.B. Yeats
You guys are soooooo GREAT for helping newbys like me.....these postings of galore knowledge are helping me get started......I have been searching endlessly for a killer deal...thank you for all the info! Blessings to DG and family....chow
"No matter who you are it's the simple things in life that lead you to believe that you can achieve anything"...
http://housesold4u.com/
thanks for the tip
I am new starting out and can use all the tips
Thanks again
Fred
hi i am a new member of the dean family,well this experience is to me like finding an oasis in the desert.all like to thanks avere one especially dg for all his hard work an vision.on your tip is on the money. mush success.
your's truelly
glass
Let the lord be magnified,which hath pleasure in the prosperity of his servant. ;)backdrup
hi my name is Glasford Barnanby but my friends call me "Glass" well i maid it i feel like a new born in to the dean family filosophy i feel that with all this new wisdom i am destine to high things.just wash me and you will be wowww.
For he shall give his angels charge over thee,to keep thee in all thy ways.
Because he hath set his love upon me,therefore will I deliver him:I will set him on high,because he hath known my name.
psalm 91-11&14
Hi Mark,
Just to let you know, I am not the most seasoned person to be offering you advice and I hope if I mess up here someone like Joe or Stacey or Sandra or Rina will clean up after me. But I think what I'm about to tell you is solid info.
If the house is already in foreclosure, you don't need to worry about the owner since he is no longer in the picture as far as the sale is concerned. The bank has already taken the property back and you are dealing with a REO. Your offer will be extended to the bank, usually through a real estate agent representing them. There are a crazy number of foreclosures out there right now so if you present a strong case for the number you are offering, and no one comes in higher of course, you might just have yourself a deal.
If the house is a short sale, then the owner and the bank have already worked out the lowest number the bank will accept. They know the owner will not be able to pay back the full amount of the loan and have decided on a number less than the total that they will accept, thus the term short sale.
Pre-foreclosure is when I think you are still dealing directly with the owner. He is behind on his payments and needs to get out. I'm assuming that if an owner is in this situation, that he will deal only if he has some equity in his place and can accept an offer less than the value of his home, but enough to cover his loan balance. This allows him to walk away knowing his loan is covered, even if it doesn't give him FMV. It also keeps a foreclosure from going on his credit history, which is a HUGE thing.
Again, I'm hoping I explained this all correctly and am eagerly inviting one and all who know more than I to chime in on this.
Cindy
Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.
The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart
"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard
I just want to start by saying I salut all of you for making that big step into a career of empowerment. I am a newbie myself and was very nervous when deciding to purchase Deans book and later join the team. Thanks to this excellent world of communication, I have noticed I'm not driving alone on this road to success. Already taken the 40 hours required to take the Michigan Realtor Exam, I was skeptical at putting my last in to make a better change, but isn't that a part of being an optimist. Goodluck to you all and I hope to continue to hear from your success and obsticles. Thanks Everyone!