Many new investors struggle with the uncertainty of real estate wholesaling and not knowing how to find other investors that will pruchase their deals.
Here are some tried and true solutions for creating the investor network that you need to have in order to have a successful wholesaling business.
- Join your local REI club. There are literally thousands of clubs across the country. Chances are, there is one in your area too. These are great places to network with other investors and to spread the word that you have properties to sell.
- Use the power of the Internet. Message boards are a great tool to communicate with your local investor community. You can visit Yahoo Groups, AOL Groups, or Google Groups and type in your city name and “real estate investors” and find a lot of investors currently buying and selling properties with each other. Reach out to these investors and you will quickly see the power of this tool.
- Advertise. When our license holders begin running television spots, 30% of their intial calls are other investors calling them to network. If investors know that you are spending money on advertising, they also know that you are getting deals. They will call you looking to take advantage of any deals you don’t want.
- Hold on to those email addresses. If you have been investing for any length of time, you are bound to have gotten emails offering you deals from other investors. Many of these messages get discarded, but I would suggest holding onto them and begin adding these investors to your list of names. Next time you have a deal, include these names on your email list and see what happens – you never know.
Generally speaking, you just have to get out there. Investors need to hear about you and understand that you have product that they are going to want to buy. Whether it is through advertising or just word of mouth, once they know you are there – they will start knocking.
Use these investors correctly and you can see an enormous ROI on any advertising that you do.