building a buyer and cash buyer list
TRANSCRIPT
Buyers List
Property vs. Buyers
• Think like an investor
– Begin with what ever you
have the least of first
• Fast moving market
– Property then buyers
• Slow moving market
– Buyers then property
“If you build it, they will come.”
Advantages to Having a List
• Buyers determine target market
– Property type, price, neighborhood, size & repairs
• Faster turnaround time
• Multiple people to take property – leverage
• Make more money per deal
• Remove the guesswork
Efficient & Effective!
Buyer Types
Wholesale - Investment• Type of property
• Cash or Financing
• Multiple properties
• May refer to others
• May help educate you –
mentor
• Relationship – long term
Exceed expectations
Retail – Owner Occupied• Specific property
• Financing
• One property
• May refer to others
• May need you to educate
them
• Relationship – short term
Meet expectations
Building the List
• Marketing
– Pro-active
• Reaching out to buyers and others through networking
– Re-active
• Sending out a message and waiting for others to respond
Marketing Techniques
Pro-active• Online search
• Real estate investment club
• Real estate auction
• Network w/real estate
professional
• Absentee owner
Re-active• Online Advertisement
• Flier
• Vehicle Advertisement
• Bandit sign
Removing the mystery of contacting buyers
PRO-ACTIVE MARKETING
Online Search
Online Search
• “We buy houses” + “Albuquerque, NM”
• “We buy ugly houses” + “Kansas City, MO”
• “We stop foreclosures” + “Baltimore, MD”
• “Sell you house fast” + “Salt Lake City, UT”
• “Behind on mortgage?” + “San Diego, CA”
Real Estate Investment Club
Real Estate Investment Club
• How to find?
– Look online
• Websites – www.creonline.com
• Web search –
– Real estate agents
– Lenders
– Appraisers
– Home inspectors
– Newspapers
Introductions
• Show up early
• Listen for anyone who says they are buying property
• Write names down
• Consider how much time you have and how many
buyers you could speak to
• 3-5 minutes average, 10 minutes max!
You need time to meet others and so do they
Introductions
• Introduce yourself to buyers
• Exchange business cards
– “Hi (their first name), my name is (your full name), it’s great to meet you. I’m just getting started with real estate investing and am currently looking for property for other buyers. Now, you mentioned at the beginning of the meeting that you’re buying houses, and I’m curious as to what you’re picking up right now?”
Introductions
• Get personal criteria
1. “What kind of deals are you working on right now?”• Buy & sell/buy & hold/lease
options, etc.
2. “How often do you buy?”• Frequency
3. “How fast can you close on properties”?• Cash buyer, has financing lined
up, etc.
Introductions
• Get property criteria
1. “What kind of neighborhoods do you buy in?”• Low, middle or high
2. “What’s your price range?”• 100k-125k, 250k-275k, etc.
3. “How much equity do you need”?
4. “What size of homes do you buy?• “sq ft, # of beds & # of baths
5. “Do you work with rehabs?”• If so, what type and how much
Introductions
• Close conversation
– “Hey, great to meet you. As I’m out looking for property for other buyers, and see some that match your criteria I’ll give you a call.”
Real Estate Auction
Real Estate Auction
• How to find?
– Call County Courthouse
– Look online
• Websites – County
• Web search –
– Real estate agents
– Newspapers
• Legal section
Introductions
Investors are buying homes right in front of you, often times with cash!
• Introduce yourself
• Get their contact
information
• Personal criteria
• Property criteria
Networking w/Real Estate Professionals
Networking w/Real Estate Professionals
• High profile
– Real estate agent
– Lender
– Attorney
– Accountant
• Low profile
– Handyman
– Sub or General contractor
– Home Inspector
– Appraiser
Introductions
• “Hi (their first name), my name is (your full name), I was looking online and saw that you are a (name their profession) is that right? Great! I’m just getting started with real estate investing and am looking for investors in our area.”
Introductions
• “In addition to (name their profession) do you also invest? Have you worked with investors in the past that you can refer me to?”
• “Do you know of investment clubs in our area that I could attend?”
• “Thanks so much for your time/help, have a great day.”
Absentee Owners
Absentee Owners
• How to find?
– County Courthouse
– Title Company
– Property Management Company
Get a list with phone numbers if possible!
Introductions
• Don’t make assumptions
– “Hi, is this (their first name), my name is (your full name). I’m just getting started with real estate investing and saw in County records that you own multiple properties in the area. I was calling to see if you are still investing? (If yes) Great, I’m glad to hear that. I’m currently looking for great deals for other buyers and was wondering what kinds of homes you might be looking for?”
• Personal criteria
• Property criteria
Re-active Marketing
Online Advertising
Online Advertising
• Craigslist
• Backpage
• Upillar
Ghost Ads
• General ad
– More calls
– Less qualified
• Specific ad
– Fewer calls
– More qualified
Handyman Special
3 bed/2 bath
Owner desperate!
XXX-XXX-XXXX
Home in Pelican Bay
3 bed/2 bath
2200 sq/ft $325K
XXX-XXX-XXXX
Regular Ads
Attention Investors!!!Stop spending your time looking for great deals; let us do the work for you.
We find great properties for investors!
Call today XXX.XXX.XXXX
Buyers Wanted!Buyers needed for multiple investment properties that cash-flow.
Call today XXX.XXX.XXXX
Cash Buyers Wanted!!!Buyers needed for fast closings on multiple investment properties.
Call today XXX.XXX.XXXX
Re-active Advertising
• Flier
• Bandit sign
• Postcard
• ¼ Flier for counter
• Walking billboard
• Vehicle
– White lettering, magnetic sign
& wrap
• Plastic sign
– Shopping cart
Physical Ads
• Newspaper
• Free merchandise
– Hats, t-shirts, etc.
• Door hanger
• Movie theater ad
• Online ad
• Flower cart
• Bench
• Radio ad
Fliers
Flyer Locations
• Grocery store
• Community center
• Athletic club/Gym
• Country club
• Convenience store
• Small business
Any Flat Surface!
Considerations
• Pre-printed vs. hand written
• 800 # vs. local #
• Picture vs. no picture
• Profession vs. hometown
Bandit Signs
3 bed 2 bath
Great Neighborhood
Call Today
XXX-XXX-XXXX
Must Sell Home!
Great Neighborhood
Owner Desperate
XXX-XXX-XXXX
Bandit Sign Locations
• Busy intersection
– Stop light
– Stop sign
• Freeway entrance
• Freeway exit
• Grassy median next to
shopping area
• Well used roads
Playing the Odds
• Online ads
– Go to specific site, look in that section & have interest in
what you are offering
• Fliers
– Hundreds of people may walk by on any given day
• Bandit signs
– Thousands of people may drive by on any given day
Use both Pro-active & Re-active techniques
to cover all your bases!
Conclusion
• Build your buyers list 1st!
• Minimum of 10 buyers
before looking for
property
• Ideal: 20-30 buyers
• Wholesale to Retail
ratio: 8/2
• Tip: Use investors to find
investors