What Comes First: Building Your Buyers List or Looking For Properties?

If you are planning on starting a real estate wholesale business, I hope by now you realize that you MUST start building a buyers list before you do anything else. I strongly recommend you start doing this task immediately – even before you have your first real estate deal.

I’m sure you are saying …What?! How do you build a list of buyers before you have a single property to list?

Without going into extreme detail here on how to build your buyers list, I have a few suggestions for you:

#1) You can market generically that you are seeking investors that are interested in purchasing wholesale properties. Put some ads out on the free classified sites seeking investors who would like to be notified when you find a great deal. Ask them if you can add them to your buyers list. More than likely, they will want you to call them if you have a great deal.

#2) You can contact investors in your area that have investment properties and ask them if they are looking to purchase more properties. If they say yes, then ask them if you can add them to your buyers list. How do you locate these investors? Here are three quick and easy ways to do it: people advertising that they want to buy houses, people with houses for rent and absentee owner mailing lists.

#3) You can locate other investors and offer to help them market their properties. While you are contacting investors using the first two methods mentioned above, you can also ask them if they have any deals for sale. The chances are, they will have a deal for you. Ask them if they mind that you did some marketing for them to help them sell the property. If they say yes – you now have a deal that you can market to those on your buyers list; which helps you build up your own buyers list and helps your new investor friends get their deals sold.

#4) Give away list of distressed properties. Just contact a local realtor and ask them for a list of properties that are considered distressed. This is an awesome way to attract buyers by advertising that you have a list of distressed properties available.

While some people would have you believe that you need to have a property first to build your buyers list, I disagree. You should start building your buyers list from day one as a real estate wholesaler and continue building and replenishing it every single day that you are in the business of wholesaling real estate. It is half of the life-blood of your real estate investing business – and the other half is finding the deals.

Do this on a daily basis, and you will have a huge buyers list in no time at all.

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To your investing success!