Ever want to find a buyer while lounging in your pajamas, without leaving your home office?
Yeah, me too.
Hey everyone, Steph Davis here, and I love hearing from my students about their deals because every deal is different, so there's always something to learn. One student was telling me recently about a deal that put her in an unfamiliar situation but turned out to have some huge advantages.
This student got a lead from a motivated seller with property for sale in another state. She ended up getting the property under contract but wasn’t sure how to go about finding a buyer. She usually markets with bandit signs or through her buyer’s list, but those strategies wouldn’t work in this situation.
This is where your PJs and virtual wholesaling comes in…
Virtual wholesaling is the same concept as traditional wholesaling, but in a remote market. That means, if you do it right, you can sit at your desk and do deals on properties hundreds of miles away.
And I know it works. My student did some research, found a cash buyer and ended up with a profit of $7,000 on the property.
Here’s how she did it…
Virtual Visit
The key here is to visit the neighborhood virtually and find investors who already have rental properties or investment properties in that same neighborhood.
This technique worked for my student, and it also works to build your regular buyer’s list in a local market.
Step 1: Visit your Property Appraiser’s Website
To begin, you need to know where to find your county’s public land records online. I use the property appraiser website for my county, but where or how this information is available does vary from county to county.
These sites can be a wealth of information, so you should spend some time getting familiar with the site that’s available for your county.
Step 2: Use the Parcel Map
Do an address search using the address search tool. This will give you a property record. Click on the parcel info, which will give you detailed information about the property. Then click on the link to the interactive map of the parcel.
The parcel map will give you the property address, subdivision and owner name of each parcel in the neighborhood. View the parcels in the neighborhood, looking for parcels that list a company as the parcel owner.
This is likely an investment company.
Step 3: Contact Potential Investors
Use Google to find contact information for any investment companies you located on the parcel map. Make sure to search both the company name and its location to find the company easily.
The best news here is that these deals can lead to more deals. My student followed these steps and made a deal…and the investor then wanted to know about other properties she finds in his area.
So…
Making a cool $7k in your jammies sounds pretty good, doesn’t it? I suggest you give this strategy a go for yourself.
Whether you are trying to build your buyer’s list or are looking for a buyer in a new area, this technique is sure to give you some hot leads.
Whatcha Think?
Got any other great ideas to locate buyers? Let us know below!
1. Snatch up a great deal when you see one, even if it’s not in your local market.
2. Leverage the website where you can find your county’s public land records to find buyers.
3. Contact potential buyers and close some awesome deals.
Steph Davis
started wholesaling in October of 2006. At the time, she had been stuck at a job bartending for the past 10+ years. She was broke and miserable, and desperately wanted out of the bar scene, which I had been stuck in for the last 10+ years.
She ended up closing four wholesale deals by the end of 2006.
Since then, she's closed more deals than she can count, has written two best selling wholesaling courses (Flip This REO and The Cash Buyer Ninja) and continues to teach others how to wholesale with videos, interviews, and as much useful information as she possibly can, because she knows what it’s like to be a broke beginner, struggling to get that first deal.