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It’s Sean Terry, and I’m back again to bring you Part 2 of this awesome lesson, which is all about wholesaling without a buyers’ list. In Part 1, we talked about how to effectively position yourself to maximize success and minimize the risk of stirring the price pot with sellers.
Today, in Part 2, we’re going to tackle the process of building a buyer’s list and marketing your properties to continuously grow that list.
Humor me for a sec…
If you were going to eat an elephant, where would you start? Would you start with a leg, the head, an ear perhaps?
Point is… if you’re on a mission for something big, you’ve gotta start small. The idea of consuming an entire elephant is overwhelming, no doubt about it. But you’ve gotta start somewhere, right?
Same theory applies to wholesaling without a cash buyer’s list, especially when it comes to marketing.
So where do you begin?
If You Build It, They Will Come
There are two different markets out there. This you must know before you start building your list.
The first – a buyer’s market. This kind of market is characterized by lots of inventory that buyers can choose from.
Then you’ve got a seller’s market where inventory is scarce but buyers are a dime a dozen.
Your market will determine how you market your property. Our market in the here and now is a seller’s market, which means sellers can easily sell into a market place.
The Classified Advertisement that’s Not so Classified
With a seller’s market, you can post your properties on classified advertisement websites like Craigslist and Backpage. Most of you are familiar…
Both are effective ways to make the phone ring and to ultimately build your buyer’s list.
Remember to (always) link your advertising to a website or “squeeze page.” You want buyers to see your ad then click through to a website where they can log in and sign up to receive property alerts.
Not tech savvy? Don’t sweat it. Weebly.com is (another) free site that is super simple if you’re just getting started.
Another way to find buyers is through Google, which makes money by selling ad space to vendors on a key word basis. Here’s what I mean…
Someone searches “wholesale” properties in Denver. They click on that ad and are directed to your site. So what does that mean for you? Google enables you to capture emails 24/7 because of its awesome search engine power.
Realtors, Your New BFF’s
Realtors can and should be one of your greatest assets and most valuable tools. Period.
Why?
Because they are a great source of buyers!
They know contracts, they know the wholesaling process. You don’t have to teach them much, and all they need to know is that the price of the property is net to you. It doesn’t matter what their fee is; Realtors love working with guys and gals like us because they can take on whatever fee they want as long as it makes sense for the buyer.
Realtors are always building buyers. Target that one Realtor who will share your properties with their buyers.
So think about this...
What if you could target multiple Realtors? First thing’s first. You’ve got to build a solid relationship with one Realtor.
You can give that agent referrals (which makes them uber happy). Realtors are extremely influential beings, because they can pull cash transactions and get you in touch with all Realtors who have sold to cash buyers in your region. Score, right?!
Investigate once you’ve got the contacts to reveal which buyers may want to purchase another property. This is a great way to get your property in front of qualified people, fast.
Wholesaling Is a Thing of Beauty
What can I say? Wholesaling, to me, is a blast!
I mean, where else can you go where you can get a property under contract for 110k, email blast it for 140k and make 20k in 7 days? It’s a beautiful thing.
Imagine repeating that process on the regular? You can make a fortune, my friends!
And it doesn’t matter where you come from. Just stay persistent, stay focused and build that list. All the other stuff will fall into place.
But you’ve got to get started and take action every day. Keep the big picture in focus, but don’t get overwhelmed by it. It’s all about baby steps. Keep at it, and watch how quickly your list grows over time. You’ll be selling properties faster than you ever dreamed possible.
We Leave Anything Out
Got any questions, or perhaps some more tips? Share below.
Position yourself properly – first!
Use the resources available to you – Craigslist, Google and Realtors – to build your buyer’s list.
Stay focused and take action daily!
Don’t get overwhelmed. Take small bites, chew them well and then move on to the next bite.
Sean Terry
is a former US Marine who led his platoon to battle in Desert Storm and was recognized with multiple awards for outstanding leadership and drive. He has traveled to over 30 Countries around the world serving our Country and learned that fear is just a weak state of mind. After exiting the Marine Corp with an Honorable Discharge he bought his first apartment complex 17 years ago, at the age of 22; he then went on and started a successful sales and marketing company for six years, producing $5,000,000 annually in sales. He opened 6 offices across the country including Phoenix , Raleigh , Cleveland , Naples , Jacksonville , and Pensacola. Because of the success, the parent company employed Sean to travel the US to motivate and train company sales reps; on several occasions the seminars reached 1000+ people. He also executed hundreds of real estate investment transactions, with a cumulative transaction value of approximately $120,000,000. Such investments have included Residential Properties, Raw Land Development, and Multifamily Complexes ranging from single-family homes to 138-acre parcels and 10 Unit to 300 Unit Apartment Complexes under various investment companies.