How to find real estate buyers by the dozen
Buyers are out there, it’s just a matter of bringing them together and keeping in touch. It’s helpful to be able to determine what type of buyer you’re looking for early on. Remember this: you are the person who has something he wants when a buyer calls you; if he’s calling them then he’s trying to sell them let’s make sure the buyers call him so he stays in the position of power early on. You must be a real estate heavyweight.
Let’s look at some categories of typical buyers to gain insight into their mindsets and how and when we will market to find them for your real estate buying needs.
o Rehabbers – These are people looking to fix up and change properties for a quick profit.
o Homeowners: These are individuals looking to buy to rent to others for long-term capital accumulation while generating positive cash flow each month.
o Wholesaler: You will buy or put an option in your contract to hopefully pass the paper on to another buyer who is willing to pay more.
o Ultimate Lease Buyers: These are people who may not qualify for a loan of their own but want to return to home ownership rather than renting.
o Retail Buyers: These are ultimate buyers who are able to obtain a mortgage or have cash and generally purchase the property for their own housing needs.
There are variations of buyers, but the above 4 types are generally considered the main targets of people who have property to sell. Understanding each buyer’s mindset helps you market to those buyers’ interests, whether they want fast cash, long-term wealth, tax deductions, a place to call home, etc. If you ask enough general questions, you’ll quickly discern what kind of buyer you have on hand. Once you know, you can tailor your offers and present properties that meet what’s important to them.
Buyer: Someone who is ready, willing and qualified! Those who are not qualified may be perfect tenants, lease option buyers, or owner financing candidates, so qualifying may have different meanings.
Done – someone who is in the market to buy within 1-45 days, keep in mind final buyer with retail or lease option usually buys once and is out of the game, more likely homeowners, rehabbers and wholesalers buy several. properties owned by you over time as existing assets are accumulated, sold or changed. Having active buyer lists in different categories that are often ready to buy a property is a very smart way to operate.
Gee Danno, how do I find these people? Oh! I’m so glad you asked! Let’s start with one of the all-time best ways to jump-start building a buyer list. In your search for bargain-priced properties of your own, it makes sense that you eventually find a really good deal, once you have a top offer to offer, turn around and market that property at cost! Yes, there is no benefit to you in this case. Why? Because you are going to advertise that property to every investor and potential property buyer on the planet!
The reason for this is that you will get the most calls and responses when you announce an eye-catching offer! Granted, chances are you’ll sell that listing relatively quickly, but you’ll be collecting information from every potential buyer you call to build your list of buyers for future properties you list. If you don’t have a property of your own to sell, ask someone who does! I can assure you that they will not turn down your offer to list your property for them for free! You can negotiate a small fee if you do in fact sell your property, but your main goal is to build your list of buyers!
Let me give you an example of a way to collect potential buyers by the dozen, hold an auction, advertise a solid week in advance to attract the most buyers, start with bandit signs, putting up about 100 of them about a 5 mile square of property we just did this and we got 800 calls because that was a lot of those 800 calls we had 300 people show up on auction day sure the house sold but we also added new buyers to our buyers list.
Here are some ways to advertise to those buyers:
o Bandit Signs
or back cover
or Post Office
o Pay Per Click Ads
o Local online classifieds
o Media Website
o Direct mail/postcards
o Start an investor meetup group
o Your own website
Use your imagination the list is limitless there is a free ebook called Internet Real Estate Yellow Pages you can download for free on my site MagicBullets.com grab it and you will find 100 more ideas and places to list your deals Now go Become a real estate heavyweight!
Dan Auito :~)