Real Estate Investor Buyer's List?

Question

I am having trouble finding real estate investors to add to my buyer's list for wholesale deals I am working on.

I have attended meetings of my local real estate investment club but we are lucky if five people show up.

I have tried classified ads in the newspaper and on craigslist, all without responses.

I have contacted "we buy houses" ads. I suspect I have had no luck with this method because they might consider me as their competition.

I stay away from bandit signs because of strict code enforcement in my area.

I have telephoned professional contractors in my area but none have returned my calls.

What am I doing wrong or what else can I try?

Answer 1

You don't say where you're located. If I knew, I'd be able to provide more targeted advice.

First, look for other real estate investment clubs in your area. Here's a link: http://www.creonline.com/real-estate-clu...

Classified ads in newspapers generally are worthless for finding investors, or for most other purposes. CraigsList often is good, but have you tried ALL the different categories? Real Estate Services? Financial Services? Housing Wanted? Real Estate for Sale? And have you done it regularly and consistently?

The "We Buy Houses" ads are good. While in some cases you might be competition, more likely it's just that the people aren't very good at following up. Even where I am (Northern Virginia--one real estate club meeting I go to attracts about 150 people a month), if you call 10 "We Buy Houses" ads or bandit signs, you'll be lucky to get two or three callbacks.

Bandit Signs: They're not for everyone. But call any numbers you see on the bandit signs. They're looking for other sources of houses.

Professional Contractors: I haven't found that too useful. The smaller scale operators--the handymen, and specific repair people--are more open to that.

Try hard money lenders. They certainly deal with investors, and would know who they are. And the hard money lenders would love to have you feeding deals to investors who, in turn, would borrow the money from hard money lenders.

Try Realtors. Some will view you as competition. But your pitch should be: "I'll find properties for your investor clients. Then, when the property's fixed up and ready to sell, your investor clients will use you to sell the properties."

Hope that helps.

Answer 2

Real investors are not joining any silly clubs.    Clubs are for the losers, the ones who are wanna be's or not making it on their own.

You need to hook up with a hot real estate broker who has large numbers of investors buying from him/her.   They tend to be loyal, not simply using the same broker for years, but generations.

I have even heard of wills specifying that a trusted broker be used in case of a sale.

You are having trouble because of this loyalty.   Investors like people who make them money, I know I do.   Instead of competing find one to team up with.    The successful brokers are swamped right now and working 7 days a week trying to keep up with their buyers demands.

Answer 3

Clubs are for Socializing and building relationship.  The best way is to work with brokers who can help you gain and move properties with maximum exposure.

Time is money, working with qualified buyers and motivated sellers make transactions faster and smooth.