The number one assets in your real estate business (or any business for that matter) is your buyer’s list. Your buyer’s list allows you to make offers with confidence and market with confidence knowing that you already have a list of people that are already interested in your deals before you even put it under contract! Before the housing collapse anybody could sell a house, so don’t listen to anybody who pounds their chest and says they sold a lot of properties before the housing bubble and if you find them (they are still out their living in the past) refer them to a quote my friend and mentor Kenny Rushing said “Before the housing collapse you could put a for sale sign in front of a dog house and it would sell!”
Once you have a buyer’s list you should continue to build that list and build relationships with the people on the list by taking them out to lunch or dinner or giving them gifts on special occasions such as birthdays or holidays. Always follow up with your buyers as you send them to a property to make sure they have all the information they need to make an informed fast decision. This is especially needed when you don’t have any money, you can still wholesale properties to these buyers without spending a dime just because you have a relationship. If you are really good you can even partner on deals with these buyers and make even more profits!
One of my students closed a deal for $10,000 and now the same buyers he sold the property to he is now partnering with and getting 25% of the profits! Not bad for building a relationship and not spending any money! Bottom line you always what to take time to get to know and build relationships with the buyer and get their exact buying criteria and deliver to them properties that fit that bill.Continue to follow up and check in with the buyer as their situation and criteria might change.