In in world of real estate you hear one of the first things you want to have is a buyer's list. Not only a buyer's list but a cash buyer's list as well. That's because when you do find homes for sale, you also want to be able to get rid of them for a profit unless your going to hold them and rent them out.
All these methods to build yourself a buyer's list are either free or lost cost. You heard of bandit signs haven't you? Those are the little signs on the side of the road. Place these at busy intersections or at exits off the interstate. They are illegal in most states, so that's why they're called bandit signs! You probably don't want to put your cell phone number on there. Get you a 1-888 or 1-800 number so you can call it once or twice a day to retrieve your potential buyer's phone number.
Put some wording on your signs that say something like 3/bedroom, 2/bath, cash only, 120K market value and sacrifice for 55K. That should get your phone to ringing! Now you might be wondering what if you don't have your first house yet and you don't have a buyer's list?
No problem this what you do. When people call they'll ask, " Do you still have that house such and such?" Just tell a little white lie…that it's already been sold. But you get these properties all the time and ask them, "Tell me what your looking for and just as soon as I get another house I'll call you back."
That way you don't wind up with a house and then have to go scrambling looking for a buyer. In other words you always have two or three buyers waiting in the wings who are ready to buy what ever you bring them.
Another low cost method to adding names to you buyer's list is to run cheap ads in you local Thrifty Nickel or Green Sheet or what ever kind of cheap or free low cost local paper that runs in your community. Craig List that's a good one. When they call, do the same thing. Just play like your filling out a shopping list before going to your grocery store. Except your filling out a house shopping list. Ask what location, price range, age of house and add anything else you can think of.
One of my favorite methods, however a little more costly is to send out postcards in the area your concentrating on. This way you have making your buyer's list formula, right down to a science. All you do here is go online or look in your yellow pages for a good name list broker. Don't gun shot all over town, concentrate on one specific zip code or one certain county. Door hangers is another method. You can walk it yourself or get some teenagers to do this for you.
There you have it. Some cost effective methods to building your very own buyer's list. Once you have it you don't have to keep constantly keep have to cultivating more buyer's. Just keep supplying your three or four buyer's with houses should keep you busy.
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