There are those who spin the dream of no money down real estate investing. The truth, however, is that deals typically require money. It doesn’t have to be your money, but you will need money. The real estate buyers’ list is one of the more effective tools to find that money.
Upon learning this I’ve seen many new investors run around like mad housewives, bellowing, where will I find the money, where will I get it?
If the Seller of your hot deal can’t provide any terms or financing, and you don’t have the money yourself, and you don’t know someone who does, referring to your real estate buyers’ list is the next logical place to look for the money to close your deal.
This post is about building a massive real estate buyers’ list, but before I touch on the mechanics of how to do that, I want you to hear and retain what I’m about to say.
The big buyers’ list is a myth.
You don’t need a gigantic list of buyers. You really only need six to ten quality buyers in your database of which you have nurtured quality professional relationships.
That only holds true if you are skilled at finding or creating good deals.
Let me reiterate:
If you have good deals, you don’t need to find the money. The money will always find you.
Quality real estate investors find and create good deals. That’s the hard part. That’s where you need to focus and develop your skill. Money follows great deals like a bloodhound on the hunt. I’m not kidding.
Develop your reputation for finding good deals, and you’ll never have to search for money again.
However, I do understand that, as you’re developing your deal finding skills, having a big buyers’ list is comforting, and I’m about to tell you how to build one, but before I did I needed to emphasize the importance of finding deals before dollars.
Onwards to blowing up your database.
Your quickest cash is going to come from your “all-cash buyers,” so let’s focus on finding those.
I’ve found most of my buyers via two methods: Networking and Online Marketing.
We’ll start with networking.
Attend investing clubs and meetings, a lot of them. Real estate is a people business, and there are lots of people at these meetings. Talk to everyone there. Tell them what you do. I would keep it as simple as, I buy and sell houses at a discount. Then go about collecting business cards.
Although it’s not the quickest, networking is the simplest and most effective method of finding real buyers.
Next, online marketing.
You need a web presence to fish for buyers, because 80% of buyers are online looking for deals.
The first thing you’ll need is a squeeze page or landing page that collects their information. It doesn’t have to be pretty. Check out an example of my buyers’ landing page at LAWholesaleRealEstate.com. It’s worked really well for me, so feel free to copy it.
A blog is another effective way of drawing in buyers. It’s a great avenue to showcase your deals and provide useful information about what’s going on in the market. Always include a sign up form in the body or sidebar of your site so that potential buyers can easily give you their information. You can see one of mine here for an example. A great resource I’ve used several times that you can use for setting up your own blog can be found at BlogToTheMax.com.
You’re also going to need a database management system. I use Aweber.com. There are many other systems out there, but I like Aweber because it integrates seamlessly with the Blog To The Max blogs as well as just about any blog. Aweber is pretty much the standard. They’ve got a $1 trial period. Cancel at anytime. Read more about their $1 offer, service and training here.
I highly recommend you outsource the development of your landing pages and blog because it’s frightfully easy to lose yourself in setting up your own Internet marketing systems. There is another service I’ve used successfully that essentially does everything for you, and you can find it at EpicRealEstateWebsites.com. Your time is better spent on becoming a deal finding maestro.
Now that you’ve established your web presence, you need a way to drive traffic to those pages.
Place two to three ads on each site, and be sure to alter the text because otherwise these sites can be a bit tempermental with multiple listings of the same advertisement. If no one can see your ads, they can’t sign up for your list!
A good sample ad reads:
“Cash Buyers Wanted for Wholesale Properties. 60 to 70 cents on the dollar. Click here for more information”
That link sends them to your landing page.
**Also! Place your landing pages and blogs in offline areas, too. For example, your business cards, property fliers, direct mailers, newspaper and magazine ads.
Do that regularly for a month or two, and you’ll see your list begin to grow.
What the Gurus Will Not Tell You:
Here’s a tip that not many gurus will advise, but it will be priceless for the growth of your business. One, it will bring the real buyers to your attention, and two, it will skyrocket your credibility.
When you find that first deal, the sweet one, promote it on those sites and to your list of buyers at your cost. You heard me, you’re not going to mark it up, and if you do it’ll be nominal.
But, Matt, why on earth would I give up my profit on a hard earned deal?
Because, when you advertise that killer deal to every investor and potential buyer you’ve come in contact with you will quickly stand out from all the other “wholesalers” who send out retail priced crap.
Your future emails will be opened.
People will be asking you for their next investment.
Money will come to your door, begging to be used.
Do that, along with everything else I’ve talked about today to build your real estate buyers’ list, and you’ll never have to worry about finding fast money again.