Transcript of "Wholesaling Real Estate - Replying To Ads To Find Buyers"
Wholesaling Real Estate - Replying To Ads To Find BuyersIn previous articles, I discussed various ways to find buyers and build a buyers list when you arewholesaling houses to other investors. I told you why it was critical for you to start building a buyerslist immediately and to keep building it every day.In this article, I will discuss a very specific way to build a buyers list that is both easy and immenselyprofitable: replying to ads.There are basically two different types of ads that you should reply to. The first one should beobvious: people advertising that they buy houses. The second one is a little more subtle: peopleadvertising houses for rent.While your exact approach will vary depending on your personality, here is what I would do whencontacting these types of leads. There are two different approaches to use depending on whether youare responding to an ad to buy or to rent.Before I start, I want to point out that there is a preferred order to how you contact people: face-to-face is better than telephone and telephone is better than direct mail and direct mail is better than e-mail. Now, there are exceptions to this (like when it is not practical or possible to call), but thats atopic for another article.If the person advertising that they are looking for properties to buy had their telephone number listed,I would call them. In the call I would tell them that I am an investor who finds great deals for otherinvestors (thats a wholesaler in case you missed the rewording). Ask them what types of houses theyare looking for. Then carefully take down exactly the criteria they require for their deals. Listen closelybecause they will be telling you what type of deals you need to find to collect your wholesale fee. Ifthey tell you that they want a 30% discount, minus the cost of any repairs, then realize that to make aprofit, you will need to find a deal that is discounted enough to meet their criteria and include YOURwholesale fee.Then, I would ask them, "Can I send you the deals that I and other investors I work with find?" This iswhere, with their permission, you get them on your buyers list. If you are involved with ourwholesaling program, you can add them using your buyers list link, which will both add them to yourlist AND gain you points redeemable for additional resources in your Wholesaler Control Panel.Now, lets look at the second group: people advertising houses for rent. The approach is similar, butdifferent. I would call them and tell them that I am also an investor in that city and that I just wanted tointroduce myself. I would ask them if they are looking to sell any of their rental properties (sometimesyou encounter a reluctant landlord that has been stuck with a house that they cant sell). I would alsoask if they are looking to buy any additional rental properties. If they are, tell them that you also findgreat deals for other investors and proceed to ask them what their criteria is for buying houses. Again,listen carefully as they tell you the types of deals you need to find to get paid. Then with theirpermission, add them to your buyers list.This really is how simple it is to build a buyers list by replying to ads that other investors are posting.Dont forget to post your own ads so that other investors can find you and add you to their buyers list.