The Basics Of Building A Wholesale Buyers List

Key Takeaways

  • Real estate investors with a wholesale buyers list they can trust will ultimately have an easier time realizing success than those without a list at all.
  • Without a real estate investors list of names to call over the course of a given deal, wholesalers may have a difficult time finding a buyer for their property.
  • Building a wholesale buyers list is no simple task; you’ll need to build and nurture countless relationships while providing your own value in return.

Wholesaling real estate is a great way to get started investing, even if you have little to no experience. However, there’s one thing you must know before getting started: the central component to wholesaling is the wholesale buyers list. As the “middleman” between investors and profitable deals, this accumulation of contacts will serve as one of your greatest assets; a myriad of buyers seeking lucrative opportunities that you can call upon when you have a deal for the taking.

The possession of a well-devised wholesale buyers list — complete with an abundance of active investors — will serve as an invaluable tool to not only selling properties faster, but earning a higher profit margin. Simply put, a wholesale buyers list is invaluable, which begs the question: How does one go about constructing a solid wholesale buyers list?

Building A Wholesale Buyers List: Getting Started

The quintessential ingredient to a successful wholesale career is the wholesale buyers list. Wholesaling is a two part equation; it’s comprised of not only securing a property under market value, but finding an end buyer. Waiting until you have a property under contract to build a buyers list is a disaster waiting to happen, as this will almost always accumulate several costs and penalties in the process. On the other hand, having an extensive list of prospects at your disposal will legitimately increase your chances of securing timely and profitable transactions, with the hopes of becoming a stream of uninterrupted income for investors.

You have the property under a real estate wholesale contract, you’ve paid your earnest deposit, and now it’s time to assign the contract to a buyer. Who do you go to? The first step in building a wholesale buyers list is establishing a pool of talent. This will also encompass some type of information on potential suitors, including but not limited it:

  • First & Last Name Of Buyer
  • Phone Number
  • Email Address
  • Buying Criteria
  • Type Of Funding
  • Personal Information
  • Source Of Referral

In addition to collecting potential real estate leads, investors should have a system in place for identifying them based on criteria. A typical real estate lead should be categorized by one of the following factors: budget; buying criteria (residential, multifamily, commercial, etc.); and type of project (rehab, prehab, rental property, etc.). A majority of investors will have their own vision of the perfect deal, with a predetermined amount of money they’re willing to spend. As a wholesaler, it’s your job to align investors with deals that fit their investment criteria. Therefore, having a database of information will help to not only improve efficiency among transactions, but also complacency with investors

It’s also important to note that, while wholesaling offers numerous opportunities for beginner investors, a wholesale buyers list won’t build itself. The driving force of constructing a wholesale buyers list is derived in a real estate lead generation campaign, which is comprised of four cornerstones: prospecting, generating interest, converting interest into sales, and managing leads to repeat the process.


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How To Generate Leads For Your Buyers List

Compared to a rehab or buy and hold deal, the wholesale deal process moves rather quickly, which is why it is crucial to have your buyers list ready to go, as to not prolong the affair.

So how can one build a resourceful wholesale buyers list? Consider exercising one or more of these methods:

Events

One of the more simple techniques to generating leads is attending networking events. From auctions and networking groups to local REIA (Real Estate Investor Association) meetings, these events are loaded with potential buyers and industry professionals to add to your list. Home and Trade shows are another outlet investors can take advantage for networking purposes.

Email Marketing

Email has revolutionized how we interact with potential customer. This digital marketing tool allows investors to reach hundreds of thousands of potential investors with the click of a button. Along with expanding reach, email marketing is an invaluable resource for building a wholesale buyers list. The question remains: Who are you targeting?

Direct Mail

Another inexpensive and efficient way to garner interest for your business is through direct mail marketing. This proven tool is excellent for beginner investors, helping to not only reach new audiences but track return on investment. The basics of a direct mail campaign will consist of your target audience, determining which type of direct mail piece to use, and setting up your inbound system.

Business Cards

Simply put, business cards are a must-have in real estate investing. This ageless marketing tactic continues to provide investors with an affordable outlet for drumming up interest in their services.

Content Marketing

In its simplest form, content marketing is the production and sharing of media and publishing content for the purpose of acquiring customers. When used correctly, content marketing can be very advantageous for investors, as it has the ability to build trust, dismantle fears, and above all else, generate leads.

Website

A professional website is mandatory in today’s marketing landscape. As the virtual face of your business, a business website will serve to not only establish an online presence, but establish credibility in the process. In essence, your website will be a central location for potential clients to visit and browse information on your services.

Social Media

The marketing platform of yesterday has been transformed into today’s social media. Not only is social media marketing an endless source for real estate leads, but a huge portion of Americans — roughly 78 percent — have a social media profile, a five percent increase from last year. Sites like Facebook, Twitter and LinkedIn have become a haven for attracting and retaining leads when building a buyers list.

Bandit Signs

You’ve seen these signs everywhere. Driving down the street, through a neighborhood, or on the freeway. You can use bandit signs to find properties and you can use bandit signs to find potential buyers. If you are using your bandit sign marketing campaign to curate a buyers list, the sign should read something along the lines of “Cheap House! Must Sell Fast!” And your phone number. These signs can be handwritten or professionally printed. If you have a property under contract, you should scatter 20 + signs throughout your local market. Make sure to place your signs in high traffic areas like busy cross streets or crowded shopping mall parking lots.

”For Rent” Signs

As you are driving through the streets of one of your target markets, keep a pen and notepad by your side to jot down the phone numbers on “for rent” signs. Calling these numbers will put you in contact with potential landlord buyers; perfect candidates for your buyers list. Landlords are often looking to expand their property bank and therefore can be great people to add to your buyers list long term.

Craigslist

Craigslist marketing is like the online version of bandit signs. Building your wholesale buyers list using Craigslist is great for beginners because it is absolutely free (unless of course you’d like to pay a virtual assistant to do your dirty work, which could be helpful once you start expanding your other marketing efforts).

Start by placing your ad in the “For Sale By Owner” category of the appropriate neighborhood. Hide your email address so potential buyers are forced to call you. Also, consider including a link to your squeeze page to capture people’s email addresses. You have the option of posting a generic ad (similar to a bandit sign) or an ad that contains the details of each property. Typically, ads that give away more details are looked at as more reliable and therefore receive better acclaim. Consider switching up the style of your ads and note when you receive calls from the best buyers. Be willing to experiment on craigslist, track your results, and tweak your techniques.

Wholesale Buyers List Summary

If you’re ready to start a career in wholesale investing, start by building your wholesale buyers list. Once you’ve accumulated a solid list of contacts, you’ll be closing deals faster than you can find new properties.

Have you had any luck using a real estate buyers list? Better yet, what sort of success have you had building a wholesale buyers list? We would appreciate hearing how a buyers list has helped you in the past.

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