I’ve got one word for you that will send every wholesale buyer your way, wait for it….the word is “FSBO” (is that even a word?). That’s it. Write the words “For Sale By Owner” in your ads, works every time. This is for property you’ve taken over subject to. You need to sound like a seller in need of a buyer, not necessarily desperate just a reasonable seller who would entertain all offers. You should sound desperate only if you’re trying to get rid of a junker fast. At least that’s the way I’ve gotten rid of my junkers in a hurry. I usually get a feeding frenzy from those “kick me, I’m down” ads and my phone rings off the hook!
Desperate Seller
Have a Junker
Cash Only
Make any offer
Call 310-000-0000
If you ran that ad in Los Angeles Craigslist right now, I guarantee you they’ll be all over you like Palmdale ants. Of course, you’ll want to give a little more description than that, like the number of beds and bath and the area it’s in. As an investor, when I see an ad like that, I don’t need to see many details in the ad because I’m going to call you and ask my own questions anyway. As a matter of fact, if the words are misspelled and you right like a 5-year-old it sounds like gold to me. I would suggest you don’t put the address in the ad, unless you have it on lock box and the house is secure. I’ve seen investors walk up to locked properties and used their “investor keys” to get in leaving the property open to squatters. So always pre-qualify every caller before you give out the address, we don’t mind it gives us a chance to show off….nuff said.
As a matter of fact, if the words are misspelled and you right like a 5-year-old it sounds like gold to me.
Allicia Cox @mycashflowuniversity.com
By the way, if you haven’t read any of my other blogs, I want to tell you that you should be taking over properties Subject To their mortgages, you need to be getting rich with other people’s mortgages, that means you should be closing on them yourself before you wholesale or wholetail your deals. This gives you more options and that’s why you can list it for sale by owner.
Check this out on my video blogs on YouTube: http://www.youtube.com/c/AliciaCoxMedia
Another way to finding cash buyers for your wholesale deal is by direct mailing letters to local landlords. These people are easy to find, and they are ready buyers who will buy Junkers as well as your almost pretty houses. You find these through your local REIA, go to their meetings and hand out your cards. You can also find these cash buyers through an investor friendly realtor. They can do a search for buyers who have paid cash on recent purchases. The realtor would be glad to help you because that puts a commission in his pocket. He’s going to hook you up with a buyer for pay. People will help you make money if you help them make money…
Another way to find cash buyers is to use signs, bandit signs and yard signs. They could be put anywhere and say you have Junkers for sale., that’s a reverse from the We Buy Houses sign. One of my favorite ways to do this free advertising is to use yard signs and put them on properties….say your other junker or pay a homeowner to rent their yard and place your sign right in the yard. Hey, go visit grandma, use grandma’s yard. Here’s how to do this, go to Home Depot or Lowes and get a For Sale by Owner sign kit. If they are too expensive get the blank white plastic board and use a permanent marker to hand write the words “For Sale by Owner” and your phone number. That’s it nothing more.
For Sale by Owner
(310) 000-0000
Stick this sign in the yard or in the area. You are going to get the attention of the investors who like to drive neighborhoods and everybody else in between. Rehabbers love this, they are boots on the ground type people and they maybe in the area working on other projects anyway. This is a great way to get to know them.
When these leads start to come in, bank them. Get all their info, name, email and cell phone will do just fine. Put these names in your cash buyer group on your phone and in your email. In the future all you have to do is email or text them when you have new inventory.
Yet another way that I’ve found buyers is to attend foreclosure auctions and make friends. See who is buying those foreclosures and exchange cards. Find out what they are looking for and just find it. These buyers don’t play and they’d rather buy from you than to be in competition at auctions with other aggressive buyers.
Use property profiles to see who the neighbors are. For instance, I wanted to get into a certain area, so I used my title company to pull a soft title on a property in the neighborhood. I could see who those neighbors are and low and behold, properties that were owned by other investors. They held title in their LLCs. All I had to do was pay them a visit at the property site.
