30-60-90 Day Step-By-Step Action Plan to Find Home Buyers Below is a detailed guideline that will show you a path to get you up and running to building the buyers list you always dreamed of. If you’re new to real estate investing, this will be very helpful. If you’re already an active investor, this will be a good refresher of things you can and should be doing to help grow your buyers list. This is your path and your business. If there are some activities below that you’d like to replace with others, go right ahead. That’s what makes this fun. You’re in control! This action plan shows many ways to find real estate buyers. Unless you’re a buy and hold investor looking for properties to rent out, you need buyers to sell your properties to. If you don’t have buyers, you don’t have an exit strategy. Without an exit strategy you may find yourself holding a property you can’t sell. That can be very uncomfortable and costly. If you have a list of active cash buyers, you can find out what they’re looking for and supply that demand. That can make your real estate investing experience more comfortable knowing you have people who want what you’re selling. Whatever ways you choose to convey your message to attract very motivated home buyers of all kinds, you need to make sure there’s a BENEFIT for your target or else they won’t care about what you have to say or offer.
Transcript
30-60-90 Day Step-By-Step Action Plan to Find Home Buyers
Below is a detailed guideline that will show you a path to get you up and running to building the buyers list you always dreamed of. If you’re new to real estate investing, this will be very helpful. If you’re already an active investor, this will be a good refresher of things you can and should be doing to help grow your buyers list. This is your path and your business. If there are some activities below that you’d like to replace with others, go right ahead. That’s what makes this fun. You’re in control! This action plan shows many ways to find real estate buyers. Unless you’re
a buy and hold investor looking for properties to rent out, you need buyers to sell your properties to. If you don’t have buyers, you don’t have an exit strategy. Without an exit strategy you may find yourself holding a property you can’t sell. That can be very uncomfortable and costly. If you have a list of active cash buyers, you can find out what they’re looking for and supply that demand. That can make your real estate investing experience more comfortable knowing you have people who want what you’re selling. Whatever ways you choose to convey your message to attract very motivated home buyers of all kinds, you need to make sure there’s a BENEFIT for your target or else they won’t care about what you have to say or offer.
If you’re buying property at deep discounts, you have some choices to consider as to what the Benefit can be. If you’re looking to sell the property fast and cash out, your benefit can be Price or Terms. PRICE is a very powerful benefit when your target is a traditional retail
buyer or wholesale buyer who has the means to get the cash for the deal. In this instance you can promote an extremely discounted price which will surely get their attention. On the other hand, if the person you’re targeting is a “rent to own” candidate, you can charge a higher retail price, but promote the Benefit as a wonderful house they can be proud of with “Flexible Terms” and “Bad Credit is OK”! So now that we’ve established there must be a benefit for your buyer to get their attention, let’s go over ways you can find home buyers. The actions below are purposely spread out over a number of days to give you a chance to actually do them and build momentum. If you’re red hot to jump all over this, you can do many of the days actions at the same time to expedite this process. Take your time to lay down a good foundation. Let’s begin… Day 1-5 Start interviewing real estate agents to help you find cash buyers. Your target real estate agent that you're trying to create a relationship with is one that's new whose hungry and motivated to find you leads. You're looking for someone who will appreciate you so you can build a long term relationship. Agents that have been around a long time and have lots of business aren’t the perfect candidate. You're looking for someone new and fresh to the business.
Since these agents have access to the Multiple Listing Service (MLS), have them pull CASH transactions that have been recorded in the MLS in the last 90-120 days. You can get a map of the results, or a copy of the spreadsheet they downloaded using the MLS. With that information you can begin zeroing in on the price points that properties are selling, along with the hot cash buyer
activity areas by zip code. The reason for this is you're finding out what the cash buyer market is buying. That way you can supply the demand. You do that by targeting your marketing to acquire these types of properties. Then you'll want to begin separating that list by zip code. You're looking for the areas that have had the most discounted cash buyer activity. In the beginning, narrow your focus down to 3-5 zip codes that have the most cash transactions. If you're finding a lot of zip codes, to help narrow down your search, look for desirable amenities in the area the homes are in that will help sell your properties. For example: close access to transportation, freeways, shopping, entertainment, parks, good school districts, lower crime, etc. This criteria will help you find more desirable areas that people want to buy and live in. Have your real estate agent or investor friendly title company help you find out information on the particular cash transactions that are discounted and appear to be investors. You’re trying to track down who bought the property. Check property tax records if necessary to find buyer information on these deals. Once you’ve got contact information for these people and businesses, contact them and let them know you saw that they bought the property at 123 Main Street and wondered if they were in the market of buying more. If so, find out exactly what they’re looking for and ask if they would like you to put them on your buyers list and be alerted the next time you have a property available that they might be interested in.
Also Google "wholesale properties" and "I buy houses" to find cash buyers as well. People who place these ads online, in newspapers, on bandit signs you see on corners, are investors. Call them up and see what they are buying. Ask if you can put them on your buyers list. Day 6-10
Find a title company that is investor friendly. When interviewing title companies, ask to talk to their most experienced agent. Ask them if they are familiar with a wrap-around mortgage and contract for deed. Ask if they can handle a double escrow. Keep interviewing title companies until you find an experienced and competent title agent. One place you can find out about such investor friendly title companies is by talking to other investors. You can find them at your local real estate clubs. Also when you’re calling "I Buy Houses" ads to find cash buyers, ask these people if they know about investor friendly title companies they could refer. If so, ask for the name of a title agent there and contact them. Once you find a Title Company you like, they can do all kinds of things for you. One thing you can ask them to do is provide you with information they can find on a particular property transaction in hopes you can track down the buyer as mentioned above. Day 11-15 Join your local real estate club, target rehabbers that flip properties; buy and hold investors. Other wholesalers are good to know for a number of reasons. Get on their email buyers list to find out what prices they're selling their properties for.
Ask if they are actively buying properties. If so, ask if they’d like to be on your buyers list. Find out what their criteria is for buying the type of properties they're offering so you can search for those types of deals to offer them. Find out what type of homes they’re looking for, price range they’re paying, what areas, age, size, number of bedroom and baths, etc. This also gives you a point of reference for the type of deals that are out
there in your area and what you might consider paying and selling them for as well. Day 16-20
Get online and visit websites like Craigslist.org and BackPage.com. Look for ads that have words like “Motivated Seller”, “Owner Will Carry”, “No Down Payment”, “Fixer Upper”, etc. You’re looking for ads placed by investors. Contact them and see if they’re actively buying real estate. If so, ask if they’d like to be on your buyers list. This is another great source to find active investors in your area, or areas you’d like to be investing in. Remember, you’re looking for what’s in DEMAND and then SUPPLYING what the demand is for to the people who want it. Day 21-25 Find out where your county sells foreclosed homes. It could be the court house steps or some other designated place. Notice whose bidding on properties at these sales and introduce yourself. Let them know you're a real estate investor and would like to know if they'd like you to put them on your buyers list. Then ask for their business card so you've got their contact information. FIND OUT WHAT THEY'RE LOOKING FOR.
That way you know what kind of properties YOU should be looking for. You're trying to find out what these CASH BUYERS are actively buying so you can consider supplying it to them. Try to meet as many of these buyers as you can so you start building a STRONG buyers list with people who can make decisions quickly and have the cash to close quickly.
Put all these people in your database under “VIP Buyers”. These buyers aren’t “dreamers”. They’re in the trenches and the stakes are high. They obviously have access to cash so they can close quickly. That’s how it works with these types of auction deals. Treat these buyers with the utmost professionalism and don’t waste their time. The way you do that is by finding out exactly what they’re looking for. When you have a deal you know they want and the numbers fit their criteria, reach out to them quickly and let them know they’re getting first crack at the deal…buy they HAVE TO ACT FAST. Give them a time deadline such as, “I need an offer by 5pm today. After that I’m blasting this to the rest of my list.” Let them know they are on a SMALL list of action takers who are seeing this first. That way they feel there’s competition for your deal…which there is! They will appreciate the priority you’re giving them. At the same time they’ll realize there’s urgency and be more likely to act accordingly.
Day 26-30 Create a Facebook Fan Page and Twitter account that talks about areas you invest in. Invite people to get on your buyers list from there. You can become the area expert who has the best deals.
(NOTE: If you have more available time, or you’re incredibly motivated, what was just covered in the first 30 days can be done the first week. Remember, you’re the one keeping this schedule. The most important thing to remember is to always be making progress.) Day 31-35
If your area allows it, put out 10-20 signs in areas where you have a house for sale to help attract cash buyers. This is something you should always be doing whenever you have a property to sell. You should also be blanketing these same areas with flyers advertising the house for sale. This flyer should also state that you buy houses and can help people that are behind on their payments. You are creating a marketing machine. Every time you have a house for sale, look at that as an opportunity to advertise for “Cash Buyers” and “Motivated Sellers”. Don’t overlook this moment in time. SEIZE IT! You have something SPECIAL to offer. Take full advantage of it to help grow your cash buyers list, along with acquiring even MORE properties to sell to them in the exact area you know they’re currently looking to buy. Day 36-40 Look for ways to outsource some of the work. Contact local colleges to find interns who would be willing to work for free in exchange for the experience. If you like the person, you might offer them a part time job. Hire a “virtual assistant”. These are people who can do all kinds of things for you remotely from any place in the country or world. If you hire these people to talk to potential buyers, make sure they have a good understanding of the English language and are able to communicate well.
You can usually hire virtual assistants on a part time or full time basis. Do an online search for “virtual assistant” and research some until you find one you like. 123employee.com is a place that offers virtual assistant services of many kinds. Visit their site to get more familiar with the process.
Day 41-45 Start researching online and offline classifieds under “For Rent” in areas you’re interested in. Start emailing and calling these landlords to find out if they’re interested in buying more properties. If so, ask if they’d like to be put on your buyers list and alerted the next time you have a property available. Ask if they have cash to close quickly, or if they would need to get financing. This will give you an idea if they’re someone who should go on your VIP buyers list, or your general buyers list. Call at least 5-10 landlords a day. This is a great source to find experienced investors who might be able to create more business for you. You will sometimes uncover people who aren’t investors at all. These might be people who couldn’t sell their house for whatever reason and had to move. They have chosen to rent out their property to help cover the monthly loan payment. Do you think they’d be interested in hearing from you? This can be a great motivated seller lead as chances are they’re making 2 monthly payments. They obviously have a problem they need to get solved. Listen to what they have to say. If the numbers work, provide them a solution by making them an offer. If they accept and you’re looking to rent the house out as well, ask them to forward any future leads they receive on their ad to you.
Day 46-50 Create a flyer to hand out at real estate club meetings that highlights your services and what kind of properties you’re looking for. Mention that you have a hungry buyers list and that you’re always looking for deals to supply to them. Also pass out your business card.
When you go to these meetings, introduce yourself to other investors, hand them your flyer/card and ask what type of deals they’re looking for. You want to ask a question and LISTEN. This is how you make a good impression by being interested in what someone else has to say…and you are! Plus this way you can find out who the players are very quickly in the conversation. If they’re a player, continue the conversation with ways you might be able to help them in their efforts of finding good deals by finding out what they’re looking for. Ask if you can put them on your buyers list. Ask if they know of other active investors they can recommend or introduce you to. Set the goal to find at least 10 active investors to build relationships with each time you go to a club meeting. Continue to go to meetings and look for new active investors to meet. If your area has more than one real estate club, go to all the meetings with this goal in mind. If you can meet more than 10 active investors at a single meeting, that’s even better. You’re trying to grow your reach in the area. These people can be like gold to your business. If you have a property they aren’t interested in buying for whatever reason, they might still be able to help sell the property you have if you’re willing to share some of the profits.
If you are, then ask if they’d ever be interested in promoting a property of yours to their buyers list for a cut of the deal. This is referred to as “co-wholesaling” and can be a very effective way to get MORE people interested in what you’re selling. Day 51-55
One of the old school traditional ways of marketing for home buyers is with offline Classified Ads. This can be Newspaper Ads or free periodicals such as the Penny Saver. You can contact some of the different papers in your area and see which if any prices make sense for the amount of exposure they offer. Day 56-60
You can market to people living in apartments because there are often people who live there that can qualify for a loan and they don’t even realize it. Also, if you can show them how buying your house will actually cost them less per month than renting, you’ll IMMEDIATELY get their attention. You can try posting bandit signs near the apartment complex where you know people will see it as they come and go. Your sign can say something like, “Why pay rent went you can own a house. I’ll show you how. Call me 123-123-1234 YourSite.com”. You get the idea. You can also try to place flyers in common areas if allowed. If you feel strongly about a certain apartment complex, you could always get a mailing list of occupants from a list company and send them postcards that drive them to your website promoting how you can help them buy one of your houses. This would particularly get the person’s attention who can’t qualify for a loan right now. You could consider promoting your “Rent To Own Report” included in this training.
Day 61-65 Find real estate forums online where you can network with other likeminded investors. This is a place where you can learn what’s working for others, ask questions, and network to find other deals. This is also a place to find cash buyers who might be interested in your
properties. One way to make yourself stand out is to supply answers to questions people post when you have them. This way you can become a valuable resource to people and someone they want to know. This is also a way you can branch out your real estate investing in other locals “virtually”. You might be able to learn about other areas you like, invest in them and be able to sell to some of these people without ever actually seeing the property. This is a specialty all of its own and you would need to educate yourself on the process. It’s just another aspect you might want to consider down the road. Day 66-70 Business Owners – Qualifying for loans for business owners can be challenging. They often have to show consistent income for a period of time. In the meantime they still need a place to live. These can be prime rent-to-own buyers. Or, some business owners may be looking for good investments. Your houses could be perfect for them along with potentially offering them tax deductions.
Day 71-75 Online Articles – You can write real estate investing articles that have your contact info and website at the bottom of them. You’ll then list these articles on Article Directories. Simply do a Google search for “Article Directories” and you’ll find lots of
them to list your articles on. Day 76-80 Referrals – In all your marketing you should be asking for people to tell a friend who would benefit from your service. You’re planting a seed so they think of you if they hear of someone who’s looking to buy a house at a good price. Day 81-85
Website – Most all of the strategies mentioned so far should be directing people not only to a phone number, but also a website where you can tell them more about your service and BENEFITS. On this site you must also have a way to capture their information such as name, email and phone number so you can follow up with them. You do this by offering them something for Free that has value to them. What you offer for free to get people to give you their contact information should be a Benefit in line with who your target is. For example a wholesale investor is going to want to get first crack at your deals. So being on your V.I.P. list is a great Benefit. You can say they must submit their contact info to get on that list. A Retail Buyer looking for ways to find a discounted property would benefit from information on how to find these kinds of bargains.
Of course your service does all that for them and that’s why they should consider buying one of your properties. Offering the “How To Find Your Bargain House” Report included in this training should also be beneficial to retail buyers and help attract them to you. A Rent To Own buyer would be interested in how to buy property with
Flexible Terms where Bad Credit is not a problem. Again, your service shows them how to get into your properties that way. Offering the “Rent To Own Report” included in this training should also be beneficial to a rent-to-own buyer and help attract them to you. Create unique landing pages that your specific target first goes to so the message they see there is the same as the copy in your ad that got them there in the first place. You’re creating a big funnel that drives people to this point so you can build a large list of buyers that are hungry to buy from you as soon as your next property is available. You can automate most all of this using affordable online software. You want this to be working for you while you’re off doing things you enjoy. Elance.com is just one of the websites dedicated to helping you outsource pretty much every task you can imagine. There, skilled people will submit bids online to do most of the work for you in setting all this up. The cost is often VERY affordable. You’re looking to have a website that has the ability to capture a person’s information and send emails out automatically using an “auto-responder”. Pick the person with the price and examples of past work that you like best.
Day 86-90 Refresh your activities by going back over this list and making sure nothing that was working before has accidently slipped through the cracks and no longer being done. Assess what that might be and once again give it priority. Things that work
shouldn’t be overlooked. See if you might be able to outsource the work to a college intern or virtual assistant to make sure it gets done going forward. Reevaluate the professionals you’re working with. Is your real estate agent doing a good job? Could they be doing more for you? If you’re not sure ask them, “Is there anything else you could be doing to help me find more cash buyers? The more deals I do, the more money you’ll be able to make as well!” Listen to what they have to say. If they’re a newer agent who was eager to work with you in the beginning, they might not know more ways they can help you. If you’re happy with them so far, suggest they ask their Broker for suggestions on ways they can help you find more buyers. The broker usually gets a nice cut of the agent’s commission, so they should be happy to give suggestions. Start looking for more investing strategies to add to your real estate machine to find even more deals to sell to the buyers on your list. We’ll end this for now. Please realize you’re in charge of the ultimate order and timeframe of this road map. Have fun with this and try to make some progress every day.
