Top Five List of Buyers For Your Flip Properties
When you are starting out in flip properties or real estate investing, it is a good idea to think about who you are going to flip your properties to.
That is why I have made this list of the five best groups of buyers to target when building your wholesale buyers list.
1.
Landlords.
People who already own rental properties in the area where you can find your deals are a great target group of buyers.
Especially if the deals that you are finding are not in terrible shape.
Find out what level of repairs your landlords are comfortable with and adjust your deal finding methods accordingly.
Landlords can often pay a little more if you can allow them time to get financing.
But be careful to get into that contingency, because the deal might fall apart in the end.
2.
Property Rehabers.
In terms of having a sure-fire deal that is certain to close quickly, by far the best buyers group to target is rehabers who are actively fixing up run down properties.
They know exactly what they are looking for, and if you get their specifications it's easy to locate properties that you can flip to them.
3.
Contractors.
Contractors often have down time with their crews and are eager to take on additional jobs for them.
You may have to educate them on the ins and outs of the flip, but they frequently have some extra cash and or connections with lenders that they can tap into to close the deal.
Don't limit yourself to general contractors either.
Plumbers, roofer, electricians and other specialized contractors can be great wholesale buyers as well.
4.
High Net-Worth Individuals.
Any sophisticated investor and high net worth individual appreciates the quality and stability of real estate as a long term investment.
If you locate the right type of deal for them, they can be great cash buyers for your flip properties.
Most likely they will prefer turn-key homes and larger properties (apartments, commercial) in good or great condition.
The numbers have to make sense as an investment.
5.
Other Real Estate Investors.
You can find them easily at real estate investment club meetings, but make sure they are real actual buyers.
Real estate investment clubs are frequently visited by new investors who have cash and credit and want to learn how to get a deal under their belt.
They will love you for bringing them their first deal, and if the deal is great you can keep flipping properties to them.
That is why I have made this list of the five best groups of buyers to target when building your wholesale buyers list.
1.
Landlords.
People who already own rental properties in the area where you can find your deals are a great target group of buyers.
Especially if the deals that you are finding are not in terrible shape.
Find out what level of repairs your landlords are comfortable with and adjust your deal finding methods accordingly.
Landlords can often pay a little more if you can allow them time to get financing.
But be careful to get into that contingency, because the deal might fall apart in the end.
2.
Property Rehabers.
In terms of having a sure-fire deal that is certain to close quickly, by far the best buyers group to target is rehabers who are actively fixing up run down properties.
They know exactly what they are looking for, and if you get their specifications it's easy to locate properties that you can flip to them.
3.
Contractors.
Contractors often have down time with their crews and are eager to take on additional jobs for them.
You may have to educate them on the ins and outs of the flip, but they frequently have some extra cash and or connections with lenders that they can tap into to close the deal.
Don't limit yourself to general contractors either.
Plumbers, roofer, electricians and other specialized contractors can be great wholesale buyers as well.
4.
High Net-Worth Individuals.
Any sophisticated investor and high net worth individual appreciates the quality and stability of real estate as a long term investment.
If you locate the right type of deal for them, they can be great cash buyers for your flip properties.
Most likely they will prefer turn-key homes and larger properties (apartments, commercial) in good or great condition.
The numbers have to make sense as an investment.
5.
Other Real Estate Investors.
You can find them easily at real estate investment club meetings, but make sure they are real actual buyers.
Real estate investment clubs are frequently visited by new investors who have cash and credit and want to learn how to get a deal under their belt.
They will love you for bringing them their first deal, and if the deal is great you can keep flipping properties to them.
