Cash Buyer Strategies for Real Estate Wholesaling

Aug 6, 2024

Finding Cash Buyers for Wholesale Real Estate Deals

Introduction

  • Objective: Learn how to find cash buyers online for free, without software or skip tracing.
  • What are Cash Buyers?: Real estate investors, typically fix and flippers, who buy houses to renovate and resell for profit. Can also be buy-and-hold investors (less volume).

Types of Cash Buyers

  • Fix and Flippers: Preferable for wholesalers; buy multiple houses per month.
  • Buy and Hold Investors: Buy single family homes as rental properties, usually one house every 12-14 months.
  • Individuals vs. Companies: Cash buyers can be individuals or companies. Prefer dealing with decision-makers like CEOs, VPs, or acquisition managers.

Understanding Cash Buyers

  • Financing Partners: View cash buyers as partners in business who bring financing to deals. Develop long-term relationships.
  • Characteristics of Great Cash Buyers:
    • Experience: Prefer intermediate to advanced investors doing multiple deals per month.
    • Decision-Making: Quick decision-making abilities, ideally within a few hours to 72 hours.
    • Local Knowledge: Best if they are local to your market.
    • Communication Skills: Reliable in communication, able to respond promptly.

Finding Cash Buyers Online

  • Craigslist Trick: Use Craigslist to find active cash buyers by searching for specific keywords in classified ads.
    • Step-by-Step Guide:
      1. Go to craigslist.com.
      2. Navigate to the desired city or county.
      3. Use keywords like "we buy houses" in the housing section.
      4. Contact the buyers through phone or email found in the ads.
  • Importance of Craigslist: Free platform to find cash buyers; cash buyers post ads looking for houses to buy.

Email and Phone Scripts

  • Email Outreach Template: Message template to contact potential cash buyers found on Craigslist.
    • Introduction, mention their ad, offer properties below market value, ask for buying criteria, propose a quick chat.
    • Include your phone number and email.
  • Phone Script: Conversation guide for calling cash buyers to discuss their buying criteria.
    • Confirm their ad, verify buying interest, discuss buying criteria, set expectations for responsiveness.

Building Relationships

  • Mutually Beneficial: Aim to make the cash buyers profitable so they keep coming back.
  • Clear Communication: Establish expectations for quick responses and reliability.

Conclusion

  • Summary: Discussed what cash buyers are, their types, how to view them as partners, characteristics of great buyers, and how to find and contact them using Craigslist.
  • Call to Action: Encourage viewers to like, subscribe, and hit the notification bell for more in-depth videos.