Advanced Buyer Locating Strategies - Amazon S3

[Pages:17]Advanced Buyer Locating Strategies

By Eric Medemar

Lets face it finding buyers is the first or second most important part of any real estate investing strategy. Without buyers houses don't sell, its that simple. No buyers, no sale. For real estate bird dogs it's no buyers, no business. For real estate wholesalers it's no buyer no business. For Property flippers once again it's no buyers no business. I think you get the point. In order to succeed as a real estate investor you will need to have some solid buyer locating strategies.

Let me be the first to tell you, I have bought thousands of dollars in real estate investing courses and never once have I come across such a comprehensive and easy to understand buyer locating guide as the one that you are about to read. I have taken the best strategies that I have learned from those courses, the best strategies that I have learned while investing on my own, and the best strategies that I have read about both online and in books to put them all together in this very easy to understand buyer locating guide. So lets get started. Please note: I am not a believer in using filler material to increase the perceived value of my courses, instead I will cut right to the chase and give you the heart of what you need to know.

1. Post to Online Classifieds- Online classifieds are a great place to pick up potential buyers for your home. The most popular online classified system in the U.S is . If you don't want to use craigslist click the next link for a FREE list of over 300 free online classified links:

Investor/Seller online classified strategies: ? If you have a website for your company then post a compelling offer for something on your website. Some examples of compelling offers include FREE List of local foreclosures, FREE Reports on becoming an investor, etc. Be sure that when you are offering something to consumers that they leave you their name, number and email address in exchange for taking your free info. Later you will contact them by phone and let them know how you could help them. ? If you have a home to _____ then I would advise leaving the address out so that people will need to contact you in order to receive more information. Remember the goal is to get contact with buyers. Many investors give up all of the information in their ad, which leaves no reason for the buyers to contact you. ? If you are trying to _______a home I would recommend using . Postlets is a free service that allows you to put together really professional looking ads to post on blogs, websites and online classifieds.

2. Advertising in local newspapers- Contrary to popular belief classified advertising in local newspapers is still one of the most viable channels for locating buyers for your property. In 99% of cases I would recommend doing small classified ads with no pictures rather than large expensive display ads. Think about it for a minute, if a buyer wants to purchase a home in your area, they are going to look in the classifieds. A serious buyer is not going to care whether or not there is a picture available in the paper. Instead they are looking for homes with price points and descriptions that meet their needs.

Here are some examples of classified ads that I have had success with:

a) FREE list of 29 Foreclosure/Handy man specials visit or call 292-4009

? This ad works great because most people would rather get a free list of home than have to call on 29 individual homes.

? This ad works very well if you have a website to direct readers to. A website creates a very low resistance way to get information from you. Be sure that your website captures name, phone, and email in order for the reader to get their free list.

b) FREE list of 48 investment properties visit or call 292-4009.

? This ad works great for attracting investors and landlord in the area who may end up purchasing multiple properties from you.

c) 1 Bath 3 Bed home, owner forced to sell, $xx,xxx or visit for a Free list of 29 foreclosures/handyman specials. Call 292-4009 for more information.

? I use this ad when I have another home to advertise but would also like to capture the interest of readers who may not be interested in the house that I am advertising in the ad.

? I put the 1 bath in front in hopes of capturing the top spot in the column that the home is listed under. Classified ads are typically in numeric order followed by alphabetical order. So with the number one in front my chances increase significantly for having my ad appear near the top of the column.

3. Bandit Signs- You may question how putting out your own "We Buy Houses" signs could help you locate buyers, believe me it works great. Not only will your bandit signs attract the attention of desperate sellers in your area, but buyers/investors will also call you as well. Most investor calls that I have received from my bandit signs are calling to find out if I have any homes under contract or discounted homes that I need to get rid of.

A few notes on your bandit signs:

a) Keep them as clutter free as possible. If a passing motorist cannot read your sign when they drive by then what good have you done?

? We buy houses, followed by your name, phone number and website should do the trick as far as content.

? I also recommend having them done with a yellow background and black letters.

b) Place them at the busiest intersections and along the busiest roads in your area. ? If you have phone poles at the busy intersections you may want to consider buying smaller signs and nailing them up as high as possible at select intersections. You might even want to bring a small stepladder with you when you go to hand your signs.

4. Sheriff Sales are a great place to meet investors in your area. Why? Virtually every person there is an investor. These are investors that are currently buying homes, other wise they would not be there in the first place. In many states in order to buy homes at the sheriffs auction investors will need either cash or financing lined up ahead of time. Which also means that you will be surrounded by QUALIFIED Investors.

Some tips for attracting buyers at sheriffs sale: a) Have your evidence of success stories ready. If you are a wholesaler or a

birddog and you have helped other investors out before, I would recommend mentioning those stories to the investors that you are talking to. It will be far easier to gain the confidence of other investors if you can speak with them about your past successes rather than trying to convince them you are great without mentioning proof that you are great.

b) Bring your business cards with you. Investors won't remember to call you if you don't have a way for them to take your contact information with them.

c) More important than giving out your own cards is collecting the contact information for the investors that you talk to. After the sheriffs sale follow up with the investors with a hand written thank you. This helps set the stage for a longstanding profitable relationship between the both of you.

5. Real estate investor club meetings are another great place to meet up with investors/buyers for your properties. Most larger cities will have a real estate investing club. For a nominal fee you can join this group of area investors at their meetings and seminars. These events are a prime place to meet investors and buyers because most attendees are already investors. Most investors will continue to buy multiple properties over their lifetime and networking with them will put you in the runnings to have a couple of those sales come from you.

Some tips for success at investment club meetings:

a) Have your evidence of success stories ready to share with people at the meetings. (See sheriffs sale for more information)

b) Bring business cards with you. Professional looking business cards will help ad instant credibility even if you have never completed a real estate transaction.

c) Collect business cards and contact information from other investors who are attending the meeting. Follow up with a hand written thank you to make a very positive impression.

d) I recommend getting a website up and running prior to attending an REI event. Even if it's just a free blog having a website builds instant credibility.

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