REAL cash buyers vs. Motivated Sellers; Which is more important?

When I first started in real estate investing, I was brainwashed to strickly look for motivated seller leads and once I got a deal, I would magically find a cash buyer with a bandit sign or posting an ad on Craigslist. Well if you keep up with my blog, you know how my Craigslist adventures have been lately.

Now it’s getting tiresome going through as many supposed cash buyer leads as I have motivated seller leads, once I get some deals.

After countless times getting deals and my cash buyers obviously needing Viagra for Investing, I’ve come to draw a conclusion and I’m not trying this. Im DOING IT!

I’ve decided that I’m focusing on getting REAL cash buyers that will pull the trigger when I call them to shoot out that deposit. Landlords and seasoned investors with portfolios.

How can this change the game

You can have 15 cars to drive but if only one drives, your wasting space right? I know people with multiple buyers but when it’s time to pull the trigger, their shooting blanks. They either don’t respond because its not what they want or their tire kickers.

You could get one good quality repeat cash buyer, build a relationship with them and only get them the properties they ask for. This way, when you put a property under contract, you know in the back of your mind that it’s sold already. That’s a good feeling that I have yet to experience 100%.

How to spot a REAL Cash Buyer

One of the easiest ways to spot a REAL cash buyer that I’ve noticed is to ask them if they own any property. Just a “so how many properties do you currently have” will do. 9 times out of 10, a REAL cash buyer will brag and boast about all the properties they own and how much they make a month in positive cash flow.

Some start to beat around the bush when the discussion of price comes up but eventually it comes out. You want to know what their price range is so that you dont waste their time with properties they would definitely not be interested in.

When you think you’ve got one, its time to sink your claws in. You need to let them know that you would really like to work closely with them since they seem to be really serious and you can definitely get what they want. You want to make their investing experience as easy as possible.

Get all their info and let them know that you will be contacting them first before anybody else with your deals. Letting them get first dibs on deals makes them feel important and they will kinda let down their guard with you because think about it; they are spending thousands of dollars with you. Wouldn’t you want to be comfortable with someone your spending thousands of dollars with?

This is what you need to know. All is not necessary but all is important:

• What construction type they want (Block, frame, stucco)
• Number of bedrooms and baths they prefer and garage preference.
• square footage.
• What areas they want properties in
• How much they want to pay
• How much their willing to take on in repairs
• What they want to pay in Taxes
• How many homes they plan to buy in a certain amount of time (3 months, 6 months etc)

Here’s Part 2 of Cash buyers vs Motivated seller
You could wait for me or do deals with cash buyers today. Your choice but success waits for no man.

Tagged As: cash buyer, cash buyers vs motivated sellers, getting started real estate investing, motivated seller, new to rei