The key component to flipping properties is obviously having someone ready to buy your property. As a real estate flipper, you don’t have the time or luxury of rehabbing a property and then simply sticking a “for sale” sign out in front & hope to get lucky. You’ll want to build a book of qualified and interested buyers who have cash on hand and are ready to deal in short order. Below are a few tips to enhance or begin the building of your buyer’s list.
Utilize online search engines (Google, Yahoo & Bing) – Key in “sell (your town) property fast” and also “We buy houses in (your town).” Bypass the paid ads (you’ll see “Ad” next to them – so it’s easy to tell which ones they are). Most of these are just lead-generation services – so scroll down past them to get to the local sites that are Really doing business in your area. The serious buyers are going to be the ones who have put money into building a localized site – not just a one-size-fits-all type of website.
Facebook – Type “real estate investor” into Facebook’s search. You’ll first see a number of results for local people who list real estate investing as their primary job. Don’t try to solicit these people; send the friend requests & as long as you’ve set up your FB account properly, they are likely to accept your friend request – seeing that you have a common interest in local real estate. At some point, you’ll find that more and more real estate investors will begin to send friend requests to you. Your network will start to grow as friend-of-friends who are investing in real estate will start to add you to their circles. If you take your time doing this, you’ll develop quite an extensive list, but be careful not to try pitching to those in your network prematurely. You will know when the time is right to ask them to join your list – after you have created a workable connection with them through posts, shares & even likes.
Craigslist.com – Check various places on Craigs. First check under the Housing tab for “real estate for sale” around your town and search for the We buy Houses, Sell your home in five days and Stop foreclosures advertisements. When you get to that area, take a look at anybody that is providing creative finance or leasing alternatives (since they are most likely to be investors). Next, you’ll want to check out the Real Estate Services category, and search for advertisements that are comparable to those previously discussed. Next, look into the Apartments/housing area, and search for homes that are for rent and contact the advertiser to see if they have an interest in getting a property at a substantial price cut.
There are more avenues to take in building your list, but these are a few that will get things rolling. Feel free to share some your own methods in our comment section.