Learning is so much fun I thought I'd share some of it with ya'll.
Finding Buyers and at the same time finding people you want to put on your team
1.Have two separate list one for Retail buyers and one for Wholesale buyers
2.Find clubs or groups to join so you can start networking (great place to find buyers and
other professional you could work with.
3.Put together a 15 sec commercial in your head and practice it so when you meet anyone who wants to know what you're doing you can give it to them short and sweet and then give them your business card. Tell them to put their name/number on the back of it so if they give it out and you make a deal on their referral you can thank them however you want.
4.Casually interview all your contacts --professionals and friends/family for referrals. Let them know what you're looking for and see if anyone they know matches your criteria. A great way to find investors,sellers,realtors/brokers,inspectors,attorney's,appraisers,constractors,cpa's,title officers etc (I meet with a broker yesterday and got the names of two different realtors he knew that worked with investors that were doing out of the box deals.)
5.Advertise ads/flyers, and check out others advertisements .
6.What to do when someone contacts you or you call someone on their ad/flyer .
First-- get all their contact information (if they are answering your ad ask them where they heard about you too).
Second-- get as much information from them as you can about what their criteria is for:
property type- type, sq ft, bed/bath, location, garage/parking, amenities (schools-shopping etc)
repair budget-what level of repairs can/willing to do themselves or willing to pay to have done
money-how will they pay-cash, loan are they pre-qualified if so for how much, do they already have the down payment and earnest money, how much can they afford on monthly payments, how's their credit score, what's their price range and for investors profit margin they expect.
time frame- how soon do they want to move in- if it's a homebuyer do they need to sell their home now or when their lease expires-for investors what kind of turnaround time do they need on property-how soon can they buy-how many deal a year
You'll have different questions for investors than for retail buyers. But both you need to know "what's the most important criteria" listed above and where are they willing to be "flexible" ex if price is most important can they be flexible on size and location or if size and location is most important can they be flexible on price.
7.Set up a voice mail message that has different options for the ads and flyers your putting out.
Once you have this information you can put them on your list in order of who's ready now, different criteria etc..
Then go out and find properties to match your buyers. If you have buyers that need help with pre-qualifying for a loan you can direct them to your broker who is creative and thinks outside the box.
What do you think? Anything I could add or refine or that your experience has taught you that would help. I'm new and at this point any thing helps.
to your dreams kay
With warm regards Kay