If you want to be successful in the real estate wholesaling business, you’ll need to access cash buyers. After all, without buyers lined up, it’s difficult to wholesale a property. Investors with cash to close without needing financing greatly accelerates the wholesaling process and enables you to keep on finding distressed properties.
So how do you find a dependable supply of cash buyers in your real estate investing venture? Check out these tips.
Buy an online directory of cash buyers.
Being a new wholesaler can be tough, and not having connections to cash buyers can be the hardest part. Buying a cash buyers list can give you a good starting point. It takes just minutes to browse directories online, and it can potentially give you valuable contacts to accelerate your business.
These services have the contact information of cash buyers who have bought homes with 100% money down. Instead of doing all the sleuthing yourself, these list providers can save you a lot of time. For a fee, you can get the most up-to-date directories of buyers that are likely to own multiple investment properties and have bandwidth for more. These databases should include phone numbers and email addresses of known cash buyers.
To ensure you’re getting the best information, verify any directories through reviews. In this way, you’ll use directories that provide accurate listings of cash buyers in your target market. Wholesaling real estate is a lot easier when you accumulate enough cash buyers who are willing to work with you.
Look for local real estate investors.
If you are looking to connect with cash buyers, then you can most likely find a few when you network with local real estate investors. Not only do these experienced investors often pay in cash, but they may have other off-market connections that can help you find more houses to wholesale. Overall, your list of cash buyers and investors may end up having a lot of crossover! Wholesale real estate is easier when you have more investors on your contact list.
Connect with real estate agents.
If you’re looking to find buyers for a quick sale, contact local real estate agents. Agents have many connections in the real estate industry, from lenders to investors, who may have a few investor clients that can assume your wholesale contract. Ask your local realtor if they have any clients who are looking to buy properties quickly, preferably with all cash.
Agents may also know other agents that know suitable home buyers for your property. As you develop a good rapport with a few real estate agents, you can ask them about past clients or other potential cash buyers in their network.
Search public records and online classifieds.
If you want to save money on buying a cash buyer directory, you can turn this project into a (rather lengthy) DIY. Search public records and free online directories for people purchased homes with cash transactions.
Whenever you find a buyer, it’s important to take time to verify the details of the cash sale. This will ensure that you find legitimate prospective buyers. When done correctly, searching through online classifieds websites and free public records can be a great way to fund a real estate transaction.
Find cash buyers on social media
Real estate cash buyers can be found in many places in the digital landscape. For example, you can do an all-call for cash buyers on social sites like Facebook or Craigslist and in forums for real estate investors or house flippers. These digital spaces are hubs for cash buyers and provide a creative option for any wholesaler looking to quickly sell a property.
However, before you strike any deal, do your homework. Wholesalers should take extra care to confirm the identity of the cash buyer and get the help of a real estate attorney to ensure the contract assumption is sound. Doing some research upfront could save considerable time and hassle down the road.
Find cash buyers in your local market.
Whether you drive around and see a “we buy houses” sign or attend a local event at a real estate business where investors congregate, there are opportunities to meet cash buyers everywhere.
When you go where cash buyers gather, you may find a goldmine of people to add to your list. Have business cards handy so that these cash buyers know where they can find more rental properties to take over.
Property auctions attract cash buyers from all around in hopes of obtaining a property for a discounted price. If you have wholesale contracts that need to be taken over, then you can potentially strike a wholesale deal with a local investor who gets outbid.
Finding Cash Buyers
Finding cash buyers is the cornerstone to a successful wholesaling investment strategy. However, starting a list and keeping your list fresh takes time and effort. You need to do lots of research and network digitally and in your desired markets.
Take the time to diligently pursue leads and create an extensive network with real estate professionals in your area. Being persistent with attracting cash buyers can pay off when you can make quick real estate deals through wholesaling.
Alicia Persson is the official in-house content writer for Marketplace Homes. She has several years of experience working in real estate teams that specialized in investments and property management. Before she joined MH, she was a freelance writer for 7 years, providing real estate and home living content for boutique digital marketing agencies.
She is a proud University of Virginia Masters graduate and enjoyed her undergraduate years at the University of Mary Washington. When she is not writing, she is playing keyboard in a local 90’s band in central Virginia or spending time with her amazing family.