Okay, so you’ve decided to invest in real estate. Congrats!!
One of the primary ingredients to successful investing is being able to liquidate if needed or if you Want, based on your investment strategy. (Learn more about investment strategies in my article “Real Estate Investing Strategies”).
Some strategies really require that you begin building your list of cash buyers, first, yes, even before you have a real estate investment. The reason? Because, if your strategy requires that you sell quickly, you want to have buyers lined up and ready to buy as soon as you’re ready to sell. Meanwhile, the buyers will wait in the shadows.
KEY to Success: Always add to your list, you can never have too many buyers. Keeping your pipeline Full will guarantee greater success in the long run.
Alright – so getting a list of cash buyers is easier than you can imagine.
You have two ways to do this – by spending money or doing it free. Both will get you results and, surprisingly, both can get you great results!
Regardless of which method you choose at any given point, be prepared to talk to people. Regardless of what people tell you, success in ANY business is based on relationship building and the more personal you can be, the better and faster results you will have. But, this doesn’t mean learning all about someone’s family, birthdays, and favorite foods. No, it means, finding out what the buyer invests in so you can match up YOUR properties, to your buyers. Taking 5-8 minutes on the phone and being personable will be enough time for a buyer to like you and, in the end, want to buy from you.
People do business with people they know, like, and trust. Be the person people know, like, & trust. Reread those sentences.
In getting on the phone, you want to be authentic. Never embellish. People will see through this.
Let’s first talk about Paid methods –
I’m not talking about Buying buyers lists.
I find these to be unreliable and not a trusted way to spend your money. I’m talking about paid marketing methods to ATTRACT buyers to you. Having buyers contact YOU essentially lets you know who’s serious, basically, weeding out those who have no business calling you.
Some paid marketing methods include bandit signs. If you choose to put out bandit signs, you want to be aware of Right of Way ordinances in your city/town. Look these up in your local city or county ordinance laws to get more information. Simple bandit signs are inexpensive and you can either have them pre-printed or you can write on them yourself. You then put these up in grass all over in the areas you want to get buyers from.
The wording would be something like: INVESTOR SPECIAL: 4 bed 3 bath house intown for $XX. Little Work needed. 65% ARV. Call xxx-xx-xxxx For Info. (What to say when the calls come in discussed further in to this article).
Another Paid marketing method is paying for classified ads or paying for ad space. The ways to approach each is slightly different. The Paid classified ads will have wording very similar to the bandit signs above but with a little more wording. Maybe add amount of work & city or zip. For example: Paint & carpet needed. Midtown.