No matter what area of real estate you’re in, being able to find investors who work primarily with cash, buy as/is, and close quickly is extremely valuable. However, if you’re a wholesaler looking to grow his/her business, and who will conceivably be looking to fund their own projects in the future, finding quality cash buyers is a genuine necessity.
But for most wholesaling investors just getting started, this task can seem much easier said than done. That being said, the reality is that cash buyers are everywhere, you just have to know where to look!
Below we have 3 techniques to help the beginning wholesaler find and connect with cash real estate investors who can buy their wholesale properties and help fund their rehab/build projects in the future!
THREE GREAT PLACES TO FIND CASH BUYERS
A great place to start looking when searching for a cash buyer to purchase your current wholesale deal is to the landlords who already own properties in the area. How do you find these landlords?
Well, there’s any number of ways! One way is by driving the area and contacting the owners of the all the properties you see “For Rent” signs in front of. These investors may not only be looking to buy more rentals in the area, but may be looking to unload some of their inventory as well.
You can also search the specific zip code on “For Rent” sites like Craigslist or Zillow, and contact the owners of the properties the search delivers. Get creative and I’m sure you can come up with a few more ways to contact current landlords in the area!
Craigslist is a great FREE online tool that you can use to stimulate many facets of your investing business, and finding cash buyers is no different. As far as how you use it to find cash buyers, there are multiple actions you can take.
First and foremost, you can look through the “Real Estate for Sale” section in your target city, and reach out to the other wholesalers and cash buyers you find marketing for deals. Second, you can post your own ads with titles along the lines of “Wholesaler Seeking Cash Buyers”, or some variation.
Lastly, you can post a ghost ad (a very attractive deal that doesn’t actually exist) and collect the contact information from the investors who reach out to you. Caution: when using this technique it’s best to be upfront as possible that this is a hypothetical deal.
These are not the only ways to use Craigslist to find cash buyers, but they should be enough to get you started.
REIA CLUB MEETINGS
Last but certainly not least, you can find cash buyers at your local REIA meetings. As a new wholesaler/investor, you should already be attending your local REIA meetings to become more familiar with the big players in your area, and to learn as much about your specific market as possible.
Most REI club meetings have a portion of the class where everybody attending introduces themselves and states why they’ve come. If so, when that time comes, don’t be afraid to announce to the world that you’re a wholesaler and you’re looking for more cash buyers.
And even if they don’t have a specific introductory period, don’t hesitate to approach the other attending investors and introduce yourself. Remember: cash buyers want to meet quality wholesalers, you make their lives easier! Just be confident, transparent, and don’t forget to get ALL their contact info!
Are these all the ways for you to find quality cash buyers in your area? Certainly not, but they are more than enough to get you started when first getting your wholesaling real estate business of the ground. If you’d like to learn more about finding cash buyers and the other aspects involved in getting your real estate business off the ground, check out my bio and a few of my other investing articles here on this real estate blog.