When new investors first learn about real estate wholesaling, they believe that finding buyers for their contracts will be the hardest part. This article will cover several strategies for finding other investors who want to buy your contracts.
Before getting into strategies for finding buyers, it is important to realize that your success in finding buyers will be directly related to your ability to find a good deal. I can’t stress enough how important it is to find a great deal. The better your deal, the easier it will be to find another investor who wants to buy your contract.
If you are having a hard time finding an investor who is interested in your business, that usually means you don’t have a good enough deal. When the offers are great, finding investors becomes much easier.
Against that background, here are the strategies:
Four strategies to find buyers
1. Announcements / call signs placed by other investors – You have seen those posters that say “we bought houses” or advertisements in the newspaper that say something similar. If you think about it, these are investors who have placed an ad because they want someone to bring them a deal. You should call these people and ask if they found a deal that made sense, if they would be interested. You can then find out what they are looking for in an offer. Then you will know what they are looking for and start building a buyer list.
2. Join real estate investment associations – Real estate investor associations are groups of local investors who want a place to network. Since you are looking for investors to buy your contracts, this is a great place to find them. Use Google to search with your city and “real estate investment association” to see what you have locally. This is a great resource for finding buyers for your contracts.
3. Post an ad and have buyers call you – With the great offer you have, you can place an ad in the newspaper or on the Internet and have buyers call you. Great deals will always attract interested buyers. You can do a little marketing and get people to call you.
4. Use social media – Technology has now made creating a buyer list easier than ever. Places like Facebook have groups that you can join specifically for wholesaling. There are wholesale groups, cash buyer groups, etc. Once you have joined these groups, you will have instant access to a large network of buyers. If you haven’t researched this resource, you should take some time to join these groups. You can take your investment to a whole new level.
Hopefully, these strategies will help you with your real estate wholesaling deals. Finding buyers is usually pretty easy once a good deal is made with your contract. These resources will help you find more buyers for the deals you are working on.