Most investors number one problem here in Hawaii is finding a buyer. They are still out there but many have difficulty qualifying with today's tight lending standards. Let's hear a few creative ways people are building their buyers list, fast and little out of pocket expense. =)
The buyer list is the life blood of your business and should be right now your number one target. You want to have ready buyers for your wholesale properties. Once you know what your buyers are looking for you can target your search of properties and feel confident that you can close the deals.
Remember the following: To make money in real estate, we all need buyers for our houses. In order to move the houses we negotiate or buy quickly, we need people in place to immediately purchase these houses via cash, hard money or creative financing. We must have a quality list of potential buyers for each property we purchase.
Here are a couple of suggestions for you that that do not require cash or little cash investment:
1. Join local RE Investment Clubs and associations. You can find good potential investors in these investments clubs. You need to assess your return on your investment (money and time). You will be pressured to join the group and make you pay a fee in exchange of big promises. Attend a couple meeting as a guest and see the participation of the membership. Remember that what you want are buyers that are actively involved and are good at what they do.
2. Auctions. The auctioneer is paying for your marketing to bring qualified buyers together in one place. Get out and hand out your business cards at the auctions around town and you will meet a lot of investors to add to your buyer’s list.
3. Marketing Online and Offline. Here is an ad you can test on various free classified internet sites:
“Handyman special, $12,342 repairs needed (always an odd number), worth $120k, will sell for $60k, serious buyers only, must close in 30 days.” – You may want to change the numbers a little bit, since I have used this ad before.
You can also post the above ad in a local newspaper, even those thrifty free newspapers you see in the local supermarkets and place them there. In this case there is a cost but it can be minor, you need to do some research before you spend money.
4. Networking. Network with your friends in the lending community. Mortgage brokers, bankers, hard money lenders, even insurance brokers and title agents. Let them know of your business and your desire to meet good, serious and well established real estate investor in the community. Consider doing the same with your fellow church members, gym buddies, family and friends.
5. Motivate your website visitors to sign up. You have a good website with good information. One suggestions is to create a way for those who visit your website to sign up, this will give you information you need to build your list. Provide your free newsletter to those who signup, provide a special report “7 Deadly Mistakes to Avoid in Real Estate Investing in ____________”. Give your audience something for them to give you their contact information and the opportunity for you to share with them great opportunities for them.
6. Email signature. An overlooked area by many business owners, not just real estate investors. This is free advertisement. This is a good place for you to list your website and promote your special report to those who sign up.
7. Social Networking. Join the power of social networking. Follow me in Twitter go to http://ViralFollowers.com/pgonzalez171/vu and follow the steps. You will automatically will follow me there and it will help you build your followers rapidly. Another site I found useful is Facebook, you can join me there at http://www.facebook.com/people/Pedro-Gonzalez/1467667117.
I hope this information is helpful to you. Have a successful day.