Targeting 1 Specific Seller And Buyer

When setting up a successful wholesaling business, many beginning investors run here and there, trying this strategy and that strategy, and often just spinning their wheels.

But there’s an easier way.

This is Cris Chico, and in this lesson I’m going to show you how to simplify and streamline your wholesaling business.

I’ll show you the types of sellers that we target, how we target them and how we find them. Also, we’ll be discussing buyers. How do we find buyers and how do we market to those buyers?

Let’s start with sellers…

My Favorite Type of Seller

My favorite type of seller is the absentee landlord. (Also known as absentee owners.) There’s not much competition for absentee owners, so you’re not competing with a lot of other investors for the same deal.

I’m looking for those absentee landlords who have owned the property for at least 10 years. They have equity and most of the time the property is in need of repairs.

They usually have tenant problems, plus the property needs repairs, and because of all this, you’ll find when you talk to them that there’s definitely motivation to sell the property.

How Do You Find Absentee Owners?

Personally, I’ve gone through and tested a ton of options for getting good lists, and I’m going to give you the names of the only 2 that I now use.

1. ListSource

Listsource offers a free account.

When you sign up, you have access to every county in the U.S. You’ll be able to get seller leads from anywhere in the country.

Once you log in to the site, you’ll see that they have an option in their homeowner services to search for absentee owners. You can create a search for your particular county.

And there’s your list of sellers.

2. RealQuest

In the RealQuest site, you can pull comps to find out the value of a property. This is an excellent source to get the seller’s records.

With a monthly subscription, you’re able to download 5k of records. That’s a lot of information.

Snail Mail

Now that you have your list, what do you send them?

My recommendation is to send postcards for mass direct mail campaigns. Use bright, canary-yellow card stock, because that has been proven to be highly effective for a higher response rate.

These are available at Click2Mail.

Craft a Quality Message

Avoid using the typical message that most all other investors use. I’m talking about the “We Buy Houses” message. Take the time to craft a really great sales message. In my postcards, I use a lot of text.

Being a good marketer means that you need to learn how to write a good marketing message (or hire someone who can). Your success will depend on it. You must create messages that generate leads and makes you money.

There’s a great book that I recommend that will help you in this area. It’s The Ultimate Sales Letter by Dan Kennedy. I refer to this book often in my business. With this book, you’ll learn how to craft great sales messages so you can get the phone to ring and get deals closed.

Finding Buyers

If you’re marketing to absentee owners, in order to complete a wholesale deal you will now need to find investor buyers.

Here’s what most investors do to find buyers...

cash They may put out bandit signs advertising their handyman deal. Or they may run an ad in the local newspaper. Or they go to their REIA club and network.

But all of these methods are labor intensive. They bring inconsistent results because you don’t know who those people are; they may be unqualified buyers. Have they bought a property lately? Do they have the money to do business?

Show Me the Real Buyers

In my business, I like to focus on a few things that give me the best bang for my buck...

What if you could get a list of buyers in the same neighborhood that you had deals in? And what if those buyers were 100% qualified?

They have cash in hand – they have demonstrated that they’re not tire-kickers, because they just bought and closed another investment property in the past 3 to 6 months.

Who are the real buyers?

It’s absentee owners who have purchased a property in the past 3 to 6 months.

We’re using the same type of list as we did for sellers, except we just target the ones who have recently made a purchase. And we’re targeting the same area.

Remember, the sellers that we target are those who have owned their property for 10 years or more. And our buyers are the ones who have recently purchased a property.

See how easy this is?

We’re working off the same list to target both – and they’re in the same location. And we’re finding the perfectly qualified people all in the same system. We find the buyers in the same place that we find the sellers. Nice!

Connecting

I like to send these potential buyers a postcard that has a website URL. On the website is a squeeze page. This is a page that has a short, direct message and gives the visitor a place to leave their contact information.

When they do that, now we have the buyer information in our email list. The next time we have a property available, we send an email to our buyers list. We let them know we have the property for sale.

That’s the system.

We use 1 lead source, and from that lead source we extract both buyers and sellers. Now we’re set up to easily and simply do wholesale deals.

This, my friend, is the way to work smarter, not harder.