Building a wholesale real estate buyers list can catapult your business forward. There’s no sense in getting a house under contract if you don’t have professional cash buyers to wholesale the property to. Having a strong wholesale buyers list makes wholesaling real estate much easier. The process of creating a solid cash buyers list isn’t easy. Many wholesalers fall into the trap of adding inactive email addresses of investors to their lists who don’t actually purchase many houses. Use your time wisely and create the most top-notch wholesale buyers list that there is!
Here are 7 powerful ways to build a wholesale buyers list and optimize the disposition process of your real estate wholesaling business.
How to Build a Wholesale Buyers List
Before attempting to build a wholesale cash buyers list, you must get organized. Ask yourself the following questions:
- Where can I store the list of current wholesale cash buyers?
- How will I keep my cash buyers list organized?
- How do I add new wholesale buyers to my list?
- What tools will I use to blast out deals to my wholesale buyers list?
There are CRM tools, such as Podio, that you can use to store and build a wholesale buyers list on your computer. Podio is relatively inexpensive. The free version can work if you’re building a small cash buyers list.
Once you know how to manage your current list of wholesale buyers, you must determine how to communicate with them. Ideally, down the road of your wholesaling career, you have a short list of cash buyers you can text. These are called pocket buyers. All you need to do is reach into your pocket and wholesale real estate to them!
However, before scaling your business to that level, you must communicate with your wholesale buyers list through text and email. Calling cash buyers one by one would be way too slow, especially as your network grows. Use tools like Mailchimp or Constant Contact to email your wholesale buyers list deals that you get under contract. You can send bulk emails to your cash buyers list letting them know that you recently got another property under contract.
Building a Wholesale Real Estate Buyers List
Now that we’ve gotten you organized, let’s dive into the nitty-gritty of building a wholesale real estate buyers list. Having a strong buyers list can unlock the keys to the kingdom of real estate. You can sell properties through a wholesale real estate assignable contract and make a cash buyer happy.
1. Cash Buyers Facebook Group
Don’t sleep on Facebook! Wholesaling Facebook groups are a great place to build your cash buyers list. Hungry buyers are constantly scouring wholesaler online groups for good real estate deals. You’ll oftentimes find new wholesalers here networking.
Once you join a few Facebook groups, start connecting with people! Answer questions and add value to buyers Facebook threads. Once you establish yourself as a credible source, you can begin to direct message cash buyers. Ask them if they are looking for deals and want to join your wholesale real estate buyers list to receive good deals.
BUYERS LIST TIP: avoid wholesaler Facebook groups that are inactive. It’s not worth spending your time in groups that won’t give you back what you put into it.
2. BiggerPockets Forums
BiggerPockets is one of the top real estate forums on the internet. You can connect with nearly any type of real estate professional, including cash buyers. BiggerPockets offers search features where you can search by type of real estate professional.
The same rules apply to places like forums as they do in Facebook groups. Add value and don’t be mean to strangers. Once you establish a relationship, you can reach out directly to people. You can build your wholesale real estate buyers list with ease after using BiggerPockets.
3. Cash Buyers on MLS
Where else can you find cash buyers using your laptop and an internet connection? Consider the MLS (multiple listing services). This wholesale buyers list-building strategy is only possible with a real estate license. You’ll need access to your local MLS.
Many wholesalers also have their real estate license, which allows them to take advantage of finding cash buyers here.
Use the search feature to sort by cash transactions in your market over the past 2 years. Filter out duplicates, pull the address that was purchased, and the owner’s name associated with it. From here, skip trace the owners. You can then reach out to them via phone or email and see if they’d like to join your wholesale real estate buyers list to receive more deals. Who wouldn’t say yes to that?
There are also tools, like List Source, where you can pull cash buyer transactions within certain counties. Not all counties disclose this information. This strategy isn’t 100% reliable using tools outside the MLS.
4. Realtors Representing Cash Buyers
Realtors who have represented cash buyers can be a powerful connection to make for your wholesaling business. If they are really good, a realtor may know several real estate investors who are actively buying off-market properties.
Take advantage of that. You can help keep realtors in business by working with them versus against them. While running the cash buyer search on the MLS, also note the realtor information who helped that particular buyer. This is an easy way to double down on your buyers list-building efforts.
5. Craigslist
To many wholesalers’ surprises, people still use Craigslist in 2023 for real estate transactions. You can find credible cash buyers for your list within Craigslist pages.
You’ll need to sift through many homebuyer scams before finding lots of solid investors. Enter Craigslist with an open mind when doing this but keep your guard up. Ideally, you can hit Craigslist once every few months to get new buyers on board your list. The best way to build a wholesale buyers list is through consistency.
6. Real Estate Meetups
To build a reliable real estate wholesale buyer list, you must be active in your market. Attend in-person real estate meetups and network with credible cash buyers. Selling a house to a cash buyer through a wholesale transaction is smooth when you have a good list. Once you find a few dependable real estate meetups to attend in your area, you can grow your buyers list and do more deals.
7. Trade Buyers Lists with Other Wholesalers
The final strategy used to build a wholesale buyers list is trading with other wholesalers in your market. Not all wholesalers have the abundance mindset when it comes to real estate. Their loss! Trading buyers lists with other wholesalers can only help you both.
It doesn’t take away leads from each other. That’s where it all started. Wholesaling a property to an end buyer is the final step in the process. Trading wholesaler buyer lists doesn’t impact the leads that you generate. Think big and believe that there are enough slices of the pie out there for everyone.
Creating your cash buyers list is easier when you trade it with others. You can easily x5 your wholesale buyers list when swapping with people in your market. Our business is already hard enough. Especially when trying to wholesale real estate in California or other tough markets, you’ll need every competitive edge you can get. Lead with abundance when thinking about how to grow your cash buyers list.
Maintain Your Buyers List
Building a buyers list for wholesaling real estate is one thing. Maintaining it is another.
Over time, buyers can become disinterested in off-market real estate deals. Some will stop caring. Others will slow down their real estate buying. This is why it’s VERY important that you maintain your buyers list over time.
Building a buyers list isn’t a “one-and-done” type of activity. If you want to be a successful wholesaler, this should be a regular activity for you and your team. There are new cash buyers that will enter the game. Additionally, there will be others that fall out.
Emails Bouncing From Your Buyers List
It’s important to cleanse your buyers list. Keep it lean, clean, and mean! Don’t be afraid to remove buyers from your list. You don’t want your email-sending providers to get mad if emails keep bouncing. Maintaining your buyers list is important to successful wholesale real estate over longer periods of time.
Create Your Buyers List for Wholesaling Today
Create your wholesale real estate buyers list with confidence by following these strategies. Don’t be afraid to connect with cash buyers out there, even if they are more experienced than you. Be humble and add value to investors and cash buyers in your market. Cash buyers will want to join your list once you become known in your area as ‘the top wholesaler’. Create relationships with others as you go out into the world and build a wholesale buyers lists for your business.