7 Free Ways to Build a Massive Wholesale Buyers List

By: Mike Jake

Fear holds back many would-be Beginner real estate investors. Often for those looking to create some fast cash wholesaling or flipping junkers are fearful of not being able to find a buyer to sell the house they put under contract.

I’ve heard it a hundred times if you find a good deal the money will follow. Sounds easy enough, but looking back myself, I was scared to death.

Let me strip away the fear before you even get started.

Here’s 7 ways you can put a massive wholesale buyers list together without having a house to sell.

This is an evergreen list of ways to build your wholesale buyer’s list from scratch without investing a dime of your own money.

Let’s get started:

1. Call Ads. Call the ads in the newspaper (look online - it’s free), penny-saver classifieds, and craigslist offering a “we buy houses” message. If they are advertising, they are looking for deals. Not all are serious investors. Some might be looking for a wholesale deal themselves so ask a few questions to determine how “real” they are. Different investors look for different types of deals, so build some rapport and really find out what they want and what they are willing to pay for it - and how fast they can close! Keep as much detail as you can about what each individual buyer likes or doesn’t like.

2. Call Phone Directory Ads. Phone directories (online and offline) aren’t cheap to advertise in, so you’re likely going to find a higher caliber buyer there. Again, look for the “we buy houses” ads.

3. Run your own Free ad in craigslist.com, backpage.com and any other free classified posting.

I started with “fixer upper, cheap, cash ###-####” but many have used that ad and it doesn’t work as well since many savvy investors know it’s likely a beginner just trying to build a buyers list.

Here’s an ad writing formula I use. Fixer Upper typically starts my ad. Fixer upper pulls better than Handyman Special and some other options I’ve tested, but try testing a few and see what pulls better, then I give the After Repaired Value of the house, say $150,000, I’ll say a repair amount - something typical of the junkers we will be wholesaling and then I’ll say the price. I will use odd numbers and I’ll vary the percentage discount to see what buyers want. Here’s a test ad:

Fixer Upper. $147,900 Fixed Up, Needs 22,755 in Repairs, Must Sell for $87,601 Please call ###-#### quick!

The more you lower the “Must Sell” price relative to the after repaired value should obviously generate more interest, but you want to test the upper limits. Many rehabbers use different formulas to determine what a good deal is. Play around with the numbers to see what pulls the best without giving up to much potential profit (on your hypothetical deal).

4. Call all the Bandit Signs, Billboards and other “We Buy Houses” signs around your town.

5. Network at your local real estate investing club.

6. Look for active rehabbers. Any agent can run a search on the MLS (multiple listing service) for specific keywords. Look for “rehabbed” or “renovated” keywords in the listings. Track down the owners from the tax rolls.

7. Attend the foreclosure auctions. These are real cash buyers. Think of the sale as your “power networking” session. In my county they last maybe 15-20 minutes. get there early, meet the buyers, get there “criteria” and their contact information.

8. (I know I only said, 7, but consider this a bonus) Don’t QUIT. Keep building your buyers list! Once you start doing deals you can reinvest into some systems to do this for you, but I’ll tell you, dealing with regular buyers is RELATIONSHIP. Time spent building relationships with regular buyers is time well spent. The better your relationship with your buyers, the easier and easier being a wholesaler will be for you. I have cultivated relationships with beginner investors and by showing them who to contact for hard money or showing them “how to” do the deal, they in turn, made some money and become eager to do another deal with me. A little extra effort goes a long way and the better relationship you have with your buyers, the easier your life gets.

Once you have your buyers list and you’ve spent the time to build the foundation of a relationship you should have learned exactly where to start looking for deals, what kind of deals to look for and what your buyers are willing to pay for them - and how fast they can close. This totally reverses the risk!

Now get after it! No whining, no complaining, just do it!

About the Author

Michael Jake, your “Local Mentor” and Colorado's leading single family house investing expert, has created an absolutely amazing free course called "How To Succeed in Today’s Colorado Real Estate Market." This FREE Mini-Course will reveal how you can make a boatload of cold hard cash in today's troubled Real Estate market.

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