If you’re a real estate investor, you already know that you need to have buyers for the properties you’re working with—otherwise, you’re not going to make any money (and isn’t that the point of investing?).
You know, too, that you need the ability to purchase properties quickly at the right price.
So how do you do those things together so that you’re consistently making money and turning over your investments?
Creating a Buyers List
Every REI needs a quality buyers list. It’s a list of REIs who typically want to buy properties to rent to tenants, but you can make it even more broad and include local Realtors® who are always on the prowl for properties for their own clients.
Because the people on this list are actively looking for what you have to sell.
There’s no way around it: you will need to market and promote a property if you want to sell it quickly and at the right price.
With a buyers list, you’ll have the best target audience possible.
How to Create a Buyers List
Naturally, your networking comes into play when you’re building a buyers list. You’ll need to record the names, phone numbers and emails of new contacts in a spreadsheet (but don’t worry—once you’re over the initial hump of including everyone you already know, it becomes much easier to keep up with).
Having this buyers list, which is essentially a pool of people who want what you have to sell, is worth quite a bit… and like anything that’s worth something, you’ll have to work for it. The payoff can be tremendous, though, so it’s well worth the effort.
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