Building a buyers list can be the biggest asset of your investing business. If you can quickly and easily find buyers for deals, regardless of whether they are a wholesale or rehab, you will be able to turn more deals over throughout the course of the year. The more deals you can turn over, the more you can close. Finding buyers for your properties will not happen overnight. In most cases, it will be a collection of people you have met over your time in the business and cultivated from the many contacts you have met. If your buyers list is strong, the rest of your business should fall into line.
For as much as the real estate business has changed over the years, one thing remains the same – sellers still need buyers for their properties. Fortunately, putting your buyers list together is as easy as it has ever been. Between Craigslist, print ads, investing websites, networking groups and local investment meetings, you can quickly find buyers if you put yourself out there and gather as many contacts as possible. Ask questions and find out what kinds of properties they are interested in, where they want to invest and what their price is. The more focused you can make your list, the faster you will be able to find a buyer.
Every real estate post on Craigslist is from a seller or a buyer. Simply reaching out to an investor to see what they are interested in can start a relationship that can turn out to be a lasting one. There are dozens of posts on Craigslist every day and there are half a dozen similar web sites like Craigslist out there. Add it all up and there are dozens of potential buyers that should be on a buyers list every day. All you have to do is spend the time and reach out to them. However, this can be very unappealing because you are not getting an immediate return for your time. Eventually, you will need these contacts and you will be glad you took the time and placed the initial call months ago.
If you are having trouble finding buyers, start with the people around you. Between your realtor, attorney and accountant, you should be able to get at least a few investor contacts. Also, you should speak up at networking and local investment club meetings. If you do not start the conversation and put yourself out there, you will never know if you are missing out on a contact. People like to work with people they have a relationship with and feel like they know. The more you start to develop your list and keep in constant contact with them when you finally do get a deal they will be comfortable working with you because they have an existing relationship with you.
A good buyers list could start with less than 10 investors and over time balloon up to close to a hundred. This will not happen overnight, but if you work on it you will start to see the results soon enough. The more comprehensive and dependable your buyers list is, the quicker you can turn a profit.