How to Build Your Buyers List For Wholesalers

Keeping a list of ready buyers will save you time and maximize your profits.

Real estate investing is a high-stakes business that forces you to be prepared for any situation. Wholesale properties are those that are sold below market value because of divorce, foreclosure or some other extenuating circumstances. The problem with accumulating wholesale properties is that it may take time to find a buyer for each one. The remedy for this problematic situation is to build a list of ready buyers so that you can turn over your inventory as soon as it is acquired. This list will keep money flowing into your wholesale real estate business.

Instructions

1. Run a series of classified ads in the local newspaper or on a website with classified listings. Notify the public through the listings that you have properties for sale.

2. Talk to each investor who calls. Get his business preferences, such as what type of property he buys, how he prefers to pay for property and what geographic area he prefers.

3. Tell each investor you do not currently have property available to fit his criteria. Ask for his contact information and tell him you will notify him as soon as a potential property is available.

4. Make your wholesale buyer list by filling it with interested investors. Save all of the contact information from the interested investors on this list along with the preferences of each one.

5. Begin your search for property using your list of investor's criteria. Look for several pieces of property that fit each investor's preferences so that each one will be able to choose the property, or properties, she wants to purchase.

References

• REI Depot; Building the Ultimate Wholesale Buyers List; Steve Cook