It’s easier than you think to find cash buyers for wholesaling. Believe it or not, they are all over. Thousands of investors and homeowner’s are paying cash for houses in every market, every year. It’s your job to find them.
You got your first wholesale deal under contract, now what? Hopefully, you have done some outreach and have started building a cash buyers list. Why cash buyers? Assignment deals always go the smoothest when your buyer brings cash to the table. If you don’t have a buyers list yet, don’t sweat it too much. Believe it or not, you can add dozens of cash buyers to your cash buyers list in no time. Here’s how.
Everyone has a Facebook account right? If you don’t, shame on you. Sign up for Facebook. Go to Groups and then Search. Type in “Wholesale real estate deals {insert city}” or “Real Estate Investors {insert city}”. That is a good place to start. As long as you live in a city or metro area with a population of 100,000 or more, you should have a few groups to choose from.
Join all of these groups. Create a post that says you have a deal and you would like to add cash buyers to your list. You should start getting responses immediately. Depending on the rules of group, you might be able to post your deal with info and pricing. If the group is large enough, you should be able to add 8-10 cash buyers (or more) from just making one post. Facebook is my #1 method to find cash buyers for wholesaling.
Tip: When you join these FB Groups, look at recent posts. There’s a good chance someone else posted a deal or asked about cash buyers. Oftentimes, buyers will post their email in the comments section. Before adding them to a list, make sure reach out to them and ask permission first.
Zillow
Zillow is not just for checking comps. You can also find cash buyers using Zillow. Think about it this way. There are investors flipping houses in the same area where your deal is. Why not contact these buyers who just sold their flip house?
Here’s what you do. Search recently sold properties in a specific area (or where your deal is). Look for properties that were flipped. It should be fairly obvious from the pictures. The house will be renovated and staged. Another way to confirm it was a flip is check the sales history. If it was just purchased a few months ago for a much lower price and then sold for a much higher price, then it’s probably a flip!
Now you are going to contact the listing agent. You can find the listing agent for these flips right in Zillow. Why do we contact the listing agent? For one, it’s super easy to find contact information for agents. Just google their name and brokerage. Secondly, if you tell the agent you have an off-market flip opportunity and you are willing to pay them a commission, they will be much more inclined to sell the deal to their buyer. Not only will they collect a commission when their buyer purchases it from you, they will also collect a commission when they go and list the flip.
Google Search
Many flippers and wholesalers have websites. If you google “We Buy Houses {insert city}” or “Sell My House Fast {insert city}” you will find these websites. Go to the site, find the Contact or Contact Us tab, click on that. You should get a phone number and email. Many of these sites will display their phone number all over the site to entice motivated sellers to call. Call the phone number and tell them about your deal. Even if they aren’t interested, add them to your buyers list for future deals.
PropStream
Or any other marketing list service. You hear me talk a lot about PropStream. It’s one of my top 6 apps I use in my own wholesaling business. There are other similar services out there too. ListSource is good and I’ve heard good things about Batch Leads. There are many. I have found PropStream to be the best.
Pull a list of cash transactions in your city over the past year (or 2 years if you live in a smaller city). Filter this search however you want to. For example, if the house is really nice and in retail condition, I would remove it. PropStream allows you filter by sale price, property type, etc. Once you have generated your list, skip trace the list. You can also do this in PropStream. This will give you phone numbers and email addresses. Phone numbers from skip tracing is always more accurate than email. I would suggested calling and texting the buyers. Some of them might not be interested in investment properties at all, so be prepared for some rejection. You will also find some great buyers from this!
REIA Meetings
Real Estate Investor Association Meetings. This is a great way to network because you meet other investors in person. In today’s digital world, there isn’t as much of this anymore. Making a face to face connection is a great way to build rapport and trust with potential buyers. Facebook groups are a great place to find out when these meetings are. Find out who the host is, a lot of times it’s the admin of a Facebook group. Many of the attendees in these meetings will be active cash buyers.
So there you have it. These are the top strategies I use to find cash buyers for wholesaling.
Related: How to JV a Wholesale Deal
