How To Find More Cash Buyers For Wholesaling!

Need more Cash Buyers for wholesaling real estate deals?

In the video below, Alex Martinez goes into how you can find more Cash Buyers, how to talk to them, & build relationships with them where they are ecstatic to work with you on your wholesale deals.

Video Time Stamps:

0:00 - How To Find More Cash Buyers For Wholesaling

3:00 - Building Business Relationships & Communicating With Cash Buyers

5:55 - Building Your Cash Buyers List Is A Never Ending Activity

The reality is: Finding & building a quality Cash Buyers List for your Wholesale Business is the first step for any successful Wholesaler!

So, let's dive right in!

Note: the video above has been transcribed into this written blog post for those who enjoy reading text over watching videos!

How To Find More Cash Buyers For Wholesaling

Hey, everyone. It's Alex Martinez. In this video today, I'm covering what you need to do if you don't have enough cash buyers for your wholesale deals, and why this is a problem if you don't have a lot of cash buyers.

I'll give an example of a student of ours inside our Pro Wholesaler Program. Now, he originally only found one buyer that bought two of his deals.

Then, he started to get more leads. When he brought him these other deals, his Cash Buyer wasn't able to buy them. They got too busy, they got caught up.

So there's an important principle here that I talk about all the time.

If you watch my other videos, How To Find Cash Buyers Online For Free, or How To Wholesale Real Estate Step by Step, you'll understand that I'm always telling you to find three to five quality cash buyers at the very least.

Now, that doesn't mean just talk to them and get a phone number or get an email. It means building a quality relationship with this particular person, with this company. It might be the CEO, it might be the president, it might be the acquisitions manager, it might be an acquisitions associate, but someone you can talk to on a first-name basis.

When you have three to five, and I recommend the more the merrier, but local to your area, actually buying deals, because now you're going to be able to get real-time feedback from multiple buyers, professional buyers, and sophisticated buyers in your areas.

Because if you only have one buyer, now you're at the mercy of one particular person, right? And we're not in this business to be at the mercy of one particular person. That's not a good business. And I wouldn't even qualify that as a business.

But when you have multiple buyers and you have a property under contract, now you can talk to each of them and you can create a bidding war, if you'd like, between these buyers and get real-time feedback.

Someone may tell you, "Hey, I can buy it for $300,000." Someone can tell you they can buy it for $350k. And that will make the difference for you in your wholesaling business.

So I know everyone wants to do deals as soon as possible but take a step back. There's a lot of progress when building a wholesale real estate business that isn't necessarily getting the deal or getting the check.

Progress is getting another buyer that you talk to, that you got coffee with, that you shook their hand, and that you understand their business model. You understand where they want to buy, what types of property they want to buy, how many properties they're buying, and how fast they can act to buy a property.

Is cash buyer A for you? Are they going to respond to you in one hour or two hours or two days?

And so when you have more buyers that are still local to your particular area, for example, if you're wholesaling in Dallas, Texas, you don't want a cash buyer who's only flipping houses in Orlando, Florida. You want Dallas, Texas doing deals to professionals in the area then can get out to the property, if need be, to get these deals under contract, to look at them, and get their property managers out there.

You just need to find more buyers. And you need to understand that this is a funnel. It's a funnel when talking to buyers. You're not going to talk to five buyers and all five are going to be qualified in your particular area.

You may reach out to five buyers that you think are buyers, but two are wholesalers, three are actually buyers, and one person is an a-hole that you don't want to work with. And then two are actually pretty good. And then one's more responsive than the other. You've got one really quality one and then one not so quality.

Building Business Relationships & Communicating With Cash Buyers

So find some more buyers so you can build your business and move it forward. And then you get to the point where you have a business relationship, almost to the point of friends, on a first-name basis where you can call this person.

Because if you don't have that, you're going to get deals under contract, and then people can't put a face to a name for you. And they're going to be like "Who's this person Alex calling?" right?

I don't even know who this person is. If that's the first time you're reaching out to them and you just got a deal, what's the likelihood of you wholesaling that to that particular person?

They're entrusting you, someone who's facilitating a transaction as a wholesaler and facilitating this contract, they're entrusting you with hundreds of thousands of dollars a lot of the time, maybe even over a million dollars, so it requires a level of trust, it requires a level of credibility.

And how do you build that? Well, we're all humans. And since the beginning of time, breaking bread, meeting people in person, getting breakfast with someone, getting lunch with someone, going to their office, bringing them coffee, learning about their business, being actually interested in their business, voicing how you can serve their business and help them grow and help their company grow.

Because if you're only thinking about yourself, if you're not thinking how can I help this cash buyer, this fix and flipper, buy and hold or hedge fund grow their business, you're not going to be on the same wavelength as them.

So you always need to think about "What's in it for them?" and you need to explain that value. You may get lucky without explaining that value. They may understand. But in life, a lot of people need to be told.

You need to show them the value that you can provide to them. The point today is to find more than just one buyer in your particular area.

Find buyers first. You need to understand that cash buyers definitely are abundant. And I know I made other videos on this, but I just see it time and time again for the last decade, of people skipping this step.

You need to understand that cash buyers are your customers. Think of them like that. Think of them as your customers. What do they want? And you need to deliver that to them.

And how do you know what they want? You ask them. You give them a phone call, you can ask through email, you can meet in person, go to Real Estate Investor Association meetings and meet them.

If you're a beginner wholesaler starting out and you don't have those cash buyer relationships, work on them the next week. Say, hey, I'm going to find five quality cash buyers local in my area or in the surrounding cities, or this county or surrounding counties, and I'm going to put my head down and I want to make this happen.

Because now every time you get a deal under contract if you have five buyers versus one, the likelihood of you closing that deal has now 5-Xed.

Buyers are people, people like you and me. They're not kings on thrones. They're people like you and me.

What does that mean? Sometimes they don't check their emails all the time. Sometimes they don't check their text messages all the time. They go on vacation. They have a family. They have personal things they need to deal with.

So if you only have one person and then that one person has a bad day, and doesn't feel like being responsive, you're out of luck. But if you have five, you mitigate your risk of someone being out of the office, on vacation, personal things going on.

Building Your Cash Buyers List Is A Never Ending Activity

Now the last thing, always have your cash buyer cap on. Always be looking for cash buyers. Even if you have one, two, three, four, or five, guess what?

Attend Real Estate Investor Association meetings, still post in Facebook groups, still reach out to other buyers, still visit other projects, still get coffee with other people, and still learn.

The mentality should be there's always another better buyer out there. It doesn't mean you burn bridges or you become non-responsive to the current buyers that you have for your wholesale deals.

It just means to keep building those relationships. And then you're going to stack rocks in your favor. And then you'll build a nice list over time.

So it's never done. It's never, ever done. Whether today, tomorrow, a year, or 10 years, your list of cash buyers is never complete.

So there's always people going out of the business, people coming in. There are people right underneath your nose in your market that you don't even know of, that don't have a website or that are on Facebook, but you attend a meeting, in-person networking meeting, and just by happenstance, you happen to meet this particular person.

Always have your cash buyer cap on. Do not skip this step. People say, hey, get the deal first. The cash buyers will come.

That can happen, but I'm working with thousands of wholesalers over the last decade, say you're going to greatly, greatly, greatly increase your chances, I'm not BSing you, when you have multiple buyers. First, quality in your area, and you understand exactly what they want.

If you really think about it, it just makes sense. It doesn't take forever to do.

You can find a new buyer each day in the next seven days if you really put your head down to it, from just a couple hours of work and focus.

Don't skip the step. Find those cash buyers, guys.

Download The How To Find More Cash Buyers Resource Here

I hope everyone is having a great time with their wholesaling business. If you have any comments or any feedback below, definitely leave it.

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We'll keep helping you out with your wholesaling flipping business. It's what we do here at realestateskills.com. We help people to build hyper-profitable wholesaling and flipping businesses.

All right, so talk to you soon. See you later.