Aside from having an access to a huge number of motivated home sellers, one of the essentials of establishing a successful real estate wholesaling business is building a strong buyer’s list. A long list of people waiting to buy the property you have placed under contract provides great convenience for a real estate investor like you. It helps you to wholesale houses faster, which will enable you to find more lucrative deals.

You might be surprised to find out that you can start building a buyers list even before you have a property to place under contract. In fact, some wholesalers make it a point to find an end buyer first before they start looking for a property to wholesale.

Creating a strong buyers list is not exactly rocket science. It is quite simple, actually. To give you an idea, here are the things that you should do to find potential buyers for your real estate wholesaling business:

Run an ad either in the local paper or online. Even if you don’t have a house to sell yet, tell your target “audience” that you’re looking to sell a handyman special or a fixer upper home. The responses you’ll get will mostly come from rehabbers, contractors, aspiring landlords, and real estate investing beginners. Be sure to identify the type of properties they are looking for, their price range, and in which real estate market they are actively investing in. Also, don’t forget to list down the names of your respondents and their basic contact information.

Call ads. Aside from running ads, you should also call “we buy houses” ads since most of the people who have put out these marketing pitches are wholesaling properties and are looking for wholesale deals themselves. Just like what you have done to those who responded to your ads, you should get their contact information and identify the type of properties they want and the amount of money they are willing to pay for these properties.

Attend REIA meetings. Real estate investing association meetings are the perfect place to find buyers and potential joint venture partners. When participating in such meetings, make it a point to talk to you real estate colleagues and establish good relationships with them. By networking with your fellow real estate investors, you can easily obtain information on the properties that they like and don’t like.

In the next part of the article, we will further discuss how to build a buyers list when wholesaling real estate. Stay tuned for the final part of the series, which will be posted soon.