Key to Wholesaling Real Estate is Finding Cash Buyers

Recent Research Shows that 25% of Purchases are Cash Buyers

Marietta, GA, July 12, 2010 --( Get Real, The Real Estate Investing Show for the Rest of Us spent this week’s show discussing how to find cash buyers for investment real estate deals. The hosts Judson Voss and Allison McArthur were joined by Larry Hoffman, fellow investor from Cincinnati, OH.

The discussion was a timely one as research has just been released showing that 25% of the homes sold on the MLS over the last 18 months have been sold to cash buyers who did not use mortgages to purchase their homes. Real estate investors who sell homes to other investors at a discount, commonly referred to as wholesaling, have a need for cash buyers to close on homes quickly and without the restrictions of mortgage company underwriting regulations.

Mr. Hoffman shared how he is tapping into this underutilized market. “I have found that there is a pattern where people who purchase investment homes for cash off of the MLS do it on a regular basis.” Larry went on to explain that he has developed a piece of software that allows him to find homes that have been sold via HUD or potential buyers through Craigslist. He then cross references those sales through the MLS or court system to find the cash purchases.

Finding the cash buyers is not enough, Larry shared. He then markets to this group via email and direct mail campaigns. If he is able to find their phone number he will call them personally and explain that he aggressively finds good investment properties and would like to know if they would like to be added to his notification list when a good investment property becomes available. From there they go into his funnel to stay up to date with them and notify them when he finds a home that could be a match.

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The REI Minute
Marv Uetel