call everyone you know with money and let them know that you can earn them a nice return (and a more secured investment than lots of other methods) on thier money. tell them you're interested in working with them at any amount if they'd like to get involved sometime soon. then, advertise for the same thing - and use whatever method of advertising you can afford. you can never do too much (at least not that i know of) nor too little. but personally, nothing travels like word of mouth. start talking about it with everyone, not asking anyone, just telling them what you do and offering them a spot, and the word will start to fuel itself into a nice little network for you.
good luck.
oh, and when someone goes active on your list (puts up money for you), move them to the top of the totem pole. call them first next time. you may get 5 or 6 people on your list but 5 or 6 may never make an actual move. it's hard but worth the work.
If you are looking to build a buyer's list of rehab investors, place an ad in the paper for your house(s) that you are wholesaling. When the investors call, get their cell phone #, home phone #, fax #, etc. The rehab investors that are doing alot of properties will be return customers for you and become the ones at the top of your list. Eventually, once you build a relationship with the investors, you can just call them when you have a property instead of running an ad.
[addsig]
What properties are you planning to handle on the "buyers list"?
Say ... you want to handle repo houses for your state. Create a website, get on the HUD repo list, and other repo lists, market your website ... specialize in one area of real estate.
By knowing your market for what area you decide to specialize in repos (houses & mobiles), vacation properties, condos, commercial investments, etc ... then target sellers to list ... then you will also get buyers.
I built my buyer list using a two-fold approach. First, I called every single "We Buy Houses"-type ads in the more relevant papers here in Philly. I'd introduce myself, explain what I do and ask if I could get some information about them (what areas they work in, how fast can they close in cash, what prices will they pay, what level of repair, exit startegy). Most were helpful, because they are smart. By being nice to me and answering a few questions that could make some money off of one of my houses. Some are arrogant and impatient. Screw them, less money for them.
After a week of that, I worded 3 seperate "Fixer for Sale"-type ads and ran them in three papers for a week. I got a tremendous response. While I actually didn't have any homes for sale ("Sorry, I just sold the home in the ad. But I'm going out tomorrow to look at two more...), it allowed me to talk to investors and get information. A few actually became friends.
In all, for two weeks of making/taking calls (I hate phones, BTW), I built a list of 18 solid, serious investors who await my call. It's worth the work and the 60 bucks or so I spent on ads.
advertise
call everyone you know with money and let them know that you can earn them a nice return (and a more secured investment than lots of other methods) on thier money. tell them you're interested in working with them at any amount if they'd like to get involved sometime soon. then, advertise for the same thing - and use whatever method of advertising you can afford. you can never do too much (at least not that i know of) nor too little. but personally, nothing travels like word of mouth. start talking about it with everyone, not asking anyone, just telling them what you do and offering them a spot, and the word will start to fuel itself into a nice little network for you.
good luck.
oh, and when someone goes active on your list (puts up money for you), move them to the top of the totem pole. call them first next time. you may get 5 or 6 people on your list but 5 or 6 may never make an actual move. it's hard but worth the work.
If you are looking to build a buyer's list of rehab investors, place an ad in the paper for your house(s) that you are wholesaling. When the investors call, get their cell phone #, home phone #, fax #, etc. The rehab investors that are doing alot of properties will be return customers for you and become the ones at the top of your list. Eventually, once you build a relationship with the investors, you can just call them when you have a property instead of running an ad.
[addsig]
JD --
What properties are you planning to handle on the "buyers list"?
Say ... you want to handle repo houses for your state. Create a website, get on the HUD repo list, and other repo lists, market your website ... specialize in one area of real estate.
By knowing your market for what area you decide to specialize in repos (houses & mobiles), vacation properties, condos, commercial investments, etc ... then target sellers to list ... then you will also get buyers.
I am speaking from my own experience.
Good Luck
Cheryl Lopez
I built my buyer list using a two-fold approach. First, I called every single "We Buy Houses"-type ads in the more relevant papers here in Philly. I'd introduce myself, explain what I do and ask if I could get some information about them (what areas they work in, how fast can they close in cash, what prices will they pay, what level of repair, exit startegy). Most were helpful, because they are smart. By being nice to me and answering a few questions that could make some money off of one of my houses. Some are arrogant and impatient. Screw them, less money for them.
After a week of that, I worded 3 seperate "Fixer for Sale"-type ads and ran them in three papers for a week. I got a tremendous response. While I actually didn't have any homes for sale ("Sorry, I just sold the home in the ad. But I'm going out tomorrow to look at two more...), it allowed me to talk to investors and get information. A few actually became friends.
In all, for two weeks of making/taking calls (I hate phones, BTW), I built a list of 18 solid, serious investors who await my call. It's worth the work and the 60 bucks or so I spent on ads.