Is the buyers list you have built for wholesaling homes failing to deliver? If so why, and what can you do to improve its performance and wholesale more houses faster?
Some investors have been complaining that even though they have successfully mastered building a sizable buyers list, few ever end up being true cash buyers that take action. So what’s the solution?
Some of those on your buyers list may not be serious. Some have great aspirations but fail to follow through. Some are simply not qualified, and others could just be competitors doing some market research.
Take this question of why your buyers list isn’t working to help in wholesaling homes fast to popular online real estate forums and you’ll see plenty of other investors making recommendations for qualifying members of your buyers list. This can include everything from asking more questions up front to requiring proof of funds or mortgage pre-qualification letters, to demanding potential buyers to provide an upfront deposit or open an escrow account.
These can all be good ideas, but when simply building a list it may be better to leave it as open as possible. The more people on it – the more visibility for every future deal. Maybe this front line won’t be buyers themselves at all, but they can put your deals in front of thousands of others that are. The more visibility; the more bidders and higher potential sales price and profit margins.
Of course there is another side to this too. Perhaps the deals that you are offering just aren’t that good. Or at least may be they aren’t the right fit for the buyers on your list. Do you know what your buyers really want? When was the last time you asked them? The last time you asked for their buying criteria?
Of course the real trailblazers in this arena are able to go out and drive trends and create a demand for their product. This takes some strategy and set up, but it isn’t impossible.
However, the bottom line, especially in this housing market is that if you have good wholesale deals you shouldn’t have any problem wholesaling as many homes as you can handle.
There are literally millions of individuals and firms interested in investing in real estate and a big percentage of those do have the cash to execute quickly. So it’s really just a matter of making the right match.
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