But no matter how good you are at building your buyer’s list, every once in a while you’ll still come across a deal that just doesn’t quite match your current buyers’ criteria. The numbers may look solid, and it just smells like a deal, but there’s no one in your quiver already who’d take it.This can happen a lot with houses “in the hood” actually.
Back in my early days, I would tackle any deal where the numbers looked good, regardless of the area. Heck, my bandit signs and car magnet even said, ‘We Buy Houses, Any Area, Any Condition”. But one thing I learned fairly early on as a wholesaler is to never take one on in the hood, unless I already have an established, credible buyer who already likes that area. Otherwise it’s an uphill battle.
So No Apparent Cash Buyers for Your Real Estate Deal…What Then?!
Well let me share a simple, clever way you can quickly uncover active cash buyers for almost any wholesale deal, in any area, if they exist. It’ll cost you literally nothing but a few quick minutes of your time.
Here’s a video I made walking you through the exact process. You’ll look over my shoulder and literally watch me extract a new cash buyer from the ether.
Watch and Learn…
Recommend you watch this in full-screen mode so you can really see it…
By the Way…
I mentioned in the video that I use Investor Carrot for my real estate investing websites. Highly recommended. My boy Trevor Mauch runs the show over there, and these guys know their stuff, and know how to make their REI websites the perfect combo of uncomplicated, yet robust and effective. Also, they apparently get great SEO right out of the gate… I litereally started getting leads within a week of setting mine up, without even promoting my website anywhere. Crazy.
Anyway if you need a solid real estate investing website, you can find out more about them at REIpages.com. Enthusiastically endorsed.
Thoughts?
So whenever you have a wholesale deal in any area where you may not already have a cash buyer lined up, I recommend you try this “buyer extraction” tactic first, before you roll the dice or put a lot of time into it.
What do you think? Speak up and lets hear your thoughts and questions below.
Hi JP, Did you end up doing any kind of deal with this property? Did you do an “Assignment of Contract” or do any kind of “Finder’s fee” type of transaction or did you buy it and flip it?
love that you included the helpful video!
Excellent info, JP. Thanks
Thanks, Bill! 🙂
Actually the buyer we identified in the search wasn’t interested in this one b/c of it’s age. But we’ve still got an option on it, and we’re working a couple of other angles. Nothing too heavy lifting though. Nothing that might distract us from other, better opportunities.
Hey JP, great video and plenty to work with there. Do you have any advice for finding “Hood” areas for investors working from outside the state? Thanks, Steve :-]
Hi, Steve. Not sure exactly what you mean. Are you saying that you want to know how to specifically locate “hood” areas in a city other than your own? If so, I’d think crime statistics and property values would be your main indicator… besides calling up a few local Realtors and investors and asking them straight up “What areas would you call “the hood”? Though I’m not sure why you’d want to know this… so maybe I’m misunderstanding your question?
That’s the answer I was looking for JP. Thanks!
Looking forward to the next podcast!
Hey, thanks for the great video! I am just getting started and this is a great tip….thanks for sharing 🙂
You can request a free list of all cash buyers who have purchased a certain number of properties in a certain zip, with price and a date range, say 3+ properties in a zip between $5,000 to $20,000 during the past several months from a title rep.
This is great ! I recently signed up to a very expensive system – thinking that I’ve been ripped off … but watching your video – gives me hopes that there is a whole market like this
This looks like a good start for 2016. Thanks for sharing!
Hi JP, I am not connected with an MLS. Could you achieve this same effect for smoking out a cash buyer by using a combo of Zillow and county records?
-Diamandi
I am trying to learn about real estate while attending university. I am confused about when to find cash buyers. My understanding is that you express interest to a seller that you want to buy there property with cash. Once the seller expresses interest back, you go on to find a cash buyer? Won’t the cash buyer realize that you are not the owner of the property? You buy the property from the seller with only a verbal agreement that the cash buyer will buy the property?
I apologize for the novice questions, I am trying to learn.
Please send me the free list of all cash buyers who have brought properties on the zip codes 37711, 37813 37814 Tir-cites TN and surrounding areas….Thanks Woodie [email protected]
JP did an amazing video on finding cash buyers. My questions are: 1) How do you structure the sale when there is a realtor involved? 2) How would JP get in under contract when the realtor could have put under contract prior to JP getting under contract?
Hi JP, I’m seeing this video now and great demonstration, thank you. My question is, assuming this buyer is interested, why wouldn’t the buyer go on to purchase this subject property themselves when you didn’t put your hands on it yet?
Thank you for the great video. Luckily my mls also uses paragon, so it works exactly the same. As a new agent/investor this video helped me a lot!
innovative
Great information, thank you.
I have a property to sell by 1/25 comps are good, price is good , I need a buyer, a great deal, I need a buyers list
Hi there
I see that you mentioned how to become a “unlicensed assistant.”
Do you have any advice on how to approach the subject to a license agent, so they are willing to work with you?
What would the licensed agent need to do in order to let me become an unlicensed assistant?
Thank you!