When new investors first learn about real estate wholesaling, they believe that finding buyers for their contracts will be the hardest part. This article is going to address several strategies for finding other investors that will want to purchase your contracts.
Before getting into the strategies for finding buyers, it is important for you to realize that your success in finding buyers will be directly related to your ability to locate a good deal. I cannot stress enough how important it is to find a great deal. The better your deal is, the easier it will be for you to find another investor that will want to buy your contract.
If you are having a hard time finding an investor that is interested in your deal, that usually means that you do not have a good enough deal. When the deals are great, finding investors becomes a lot easier.
With that background, here are the strategies:
Four Strategies For Finding Buyers
1. Call ads/signs placed by other investors – You have seen those signs that say “we buy houses” or ads in the paper that say something similar. If you think about it, these are investors that have placed an ad because they want someone to bring them a deal. You should call these people and ask them if you found a deal that made sense, would they be interested. You can then find out what they are looking for in a deal. Then you will know what they are looking for and you are starting to build a list of buyers.
2. Join real estate investing associations – Real estate investor associations are groups of local investors that want a place to network. Since you are looking for investors to purchase your contracts, here is a great place to go to find them. Use Google to search with your city and “real estate investing association” to see what you have locally. This is a great resource for finding buyers for your contracts.
3. Place an ad and get buyers calling you – With the great deal that you have, you can place an ad in the paper 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 calling you.
4. Use social networking – Technology has now made building a list of buyers easier than it ever has been. Places like Facebook have groups that you can join specifically for wholesaling. There are wholesaling groups, cash buyer groups, and so on. Once you have joined these groups, you have instant access to a large network of buyers. If you have not looked into this resource, you should spend some time joining these groups. It can take your investing to a whole new level.
Hopefully these strategies will be useful with your real estate wholesaling deals. Finding buyers is usually pretty easy once you a great deal with your contract. These resources will help you find more buyers for the deals that you are working on.