10 Ways to Build Your Buyers List in Real Estate
Wholesalers, what’s first…the buyer’s list or the deal?
When wholesaling real estate, some may say to start with finding your first deal and others say first build your buyer’s list…
Either is fine actually.
However, if you choose to build your buyer’s list first, you will learn more sooner.
When (or if) you have a GOOD potential deal, you’d better not pass that deal up.
Just because you haven’t built your buyers list, you should be able to move that deal with the right marketing (and if it is in fact a GOOD deal).
When you have a GOOD deal, it is true, buyers do come.
Facebook is a great platform for you to create demand for your deal without building a buyer’s list first.
However, not all buyers are on Facebook searching faithfully.
Therefore, you may find it difficult to move your deal. In this case, try multiple platforms in addition to Facebook to post your deal. Craigslist, to Meet Up groups social pages, Bigger Pockets, Connected Investors, trade apps like Let Go, Instagram, LinkedIn, YouTube, Clubhouse, Telegram groups, etc. are all good examples.
If you decide to build your buyer’s list first, you will build better business experience overall much sooner. Whether you are cold calling, networking on platforms or with individuals, searching public records, or any other technique, you will accumulate valuable experience that will progress your knowledge base a lot sooner.
This overall, is great for supporting your future success in the industry. Your communication skills will progressively become better as you learn how to be more efficient through your learnings.
Building your buyer’s list can consist of several techniques to locate buyers. Today we will review many ways to accomplish this task. Note: These techniques can be used for realtors as well, but this article is designed for wholesalers, bird dogs or disposition managers.
So let’s get started…
Building Your Buyers List 101
Facebook is a versatile platform, where business meets social. You can certainly build your business rapport on Facebook.
First, join real estate investor groups in the city/county where you are looking to wholesale. Be sure these groups have good interaction amongst the members and their isn’t just a bunch of advertising without any interactions for each post.
Search for similar wholesale deals within the group by other marketers and see what buyers are corresponding. Comment on the post indicating that you will message that buyer. Then friend request the buyer and send them a DM inquiring if they would like to be notified for wholesale deals. If they are, collect their contact information and their buying criteria.
Some people will simply comment their emails in the post. Jot these emails down for when you have a deal to send out and add these buyers to the email.
Join connectedinvestors.com, create a profile and begin networking. Many investors, realtors, property managers, sellers, wholesalers, attorneys, contractors are all on this platform interacting regularly.
Search profiles of other members by their profile category, friend request them, and await their response. Unfortunately you cannot message anyone you aren’t friends with on this platform. Once you are friends, send them a message to see if they’d be interested in being notified for your deals.
You can also join groups on the platform that fit your interests and post to the group. There are also forums where you can post public posts. All three of these options on this platform will grant you many options to build relationships.
3) Bigger Pockets
Join biggerpockets.com, create a profile and begin networking. There are countless real estate professionals, as well as professionals supporting the real estate industry, on this platform.
You can correspond with them through the forums or connect directly with individuals who you’d like to build a relationship with. Build your relationships and broaden your network.
Join meetup.com and join select real estate investment groups that fit your interests. These groups usually gather regularly to get acquainted and discuss key topics of the industry.
It is well known for investors and many other professionals to attend these gatherings. You can definitely build your buyers list network here as you learn more about any industry topic. Be sure to arrive early and be prepared to stay late. The only opportunity you will have to adequately network is before the start of the meeting or after the meeting ends.
Keep an open mind and also collaborate with other professionals while you are there. Partnerships are key and you may build mutually beneficial relationships.
5) Local Real Estate Auctions
Depending on where you reside there could be an abundance of auction types. You want to target, estate auctions held by auctioneers, tax auctions held by either the county or a trustee and bank foreclosure auctions.
The most effective will be the tax auctions. Tax auctions bring savvy investors who are versatile and understand many investment strategies in the market. These auctions are usually more abundant with investors versus an auction for an individual home that an auctioneer would present for.
Bank foreclosure auctions are also popular, but they can be more of a time waster due to the banks not accepting winning bids often. Many investors prefer to attend these online versus in-person due to this reason. You could spend hours at the auction waiting for your property to be announced, win the bid and have the bank deny all offers because the unannounced reserve wasn’t met or they didn’t feel satisfied with the highest bid. Some properties are presented 3 or more times before they accept a winning bidder’s bid.
Be sure to have your dialog and approach prepared for any investors that is bidding frequently. Introduce yourself, be direct and be polite. Think elevator speech…30 seconds.
Investors are focused on what they came for so don’t waste their time being extra chatty. Tell them what you do, and ask if you can connect with them for investment opportunities you have. Have your memo pad and take down their contact info and go about your business.
Of course, you could hand out your business card, but its more effective to get their preferred method of contact and their buying criteria.
6) Public Records
As an investor, public records are your best friend. Here you can access many potential business ventures just like all businesses do.
Specifically for buyers, you can first identify properties that are being renovated or identify multi-family properties where you will use the address to look up the owner. This search will be done at your local county’s Recorder of Deeds office (or online).
Once you find the name of the company or individual investor, take that same name and look up other properties they own. You’ll do a search by name versus a search by address as mentioned earlier.
If they have several properties, send them direct mail, a friend request on Facebook or call their place of business to inquire to see if they’d like to be notified for any opportunities you may have that fit their buying criteria.
7) Band-it Signs
Although most of the band-it signs are for wholesalers, there are investors who use this method to get leads for themselves. Write down the phone numbers or snap a quick photo of these band-it signs and call them to inquire.
See if they’d like to be notified for any opportunities that may fit their buying criteria. Or if they are wholesalers, you could build relationships where you could possibly JV (joint venture) with them.
8) For Rent Signs
Particularly if you are wholesaling multi-family, you could call For Rent signs to chat with the owner or possibly the property manager. See if they are an investors and tell them what you do.
If they are interested in partnering, collect their criteria, collect their preferred method of contact and add them to your buyer’s list.
9) Local Property Managers
Locate the names and phone numbers of all property managers in your local area. Call them to introduce yourself. Tell them you have opportunities that may interest the property manager (if he or she is an investor) or perhaps the buyers that the property manager supports.
See if these type of opportunities interest them and if (and how) they’d like to be notified when opportunities arise that fit their buying criteria.
Craigslist is consistently a place where people go for deals. This is the top meeting place for classified ads. Investors scower craigslist for deals and will respond to your add if you place a post related to your services.
If you utilize this option you can direct them to your squeeze page. A squeeze page is a website that allows the buyers to submit a form indicating their buying criteria (or anything else you choose to add tot the form). If you don’t have a squeeze page, be sure to identify where the buyers should email you in your Craigslist post.
There you have it! 10 ways to build your buyer’s list. Easily you can build 100 buyers pretty quickly using these methods.
Time, effort and diligence is what will get you to your goals. Be sure to take action.
Thank you for joining us today faithful readers-future leaders.
Be sure to subscribe for more weekly content.
Please comment any additional techniques you’ve used or a technique that you learned today.
Get our FREE Deal Analysis for Rental Property Calculator!
Plenty of great tools for your investing journey!
Our mission is to help others develop using our knowledge. We love helping people!
We cater to those looking to grow professionally and educate themselves in real estate and stock market investing.
Need Investing Tools?
For your real estate and budgeting needs.
Make the Best of Your Home Buying Experience Now!
Best preparation tool available for home buyers!