How To Find Buyers For Real Estate Deals
REO investing is moving faster than a speeding bullet!
Over the last few years, many areas throughout the country were flooded with foreclosures that sat on the market for 1, 2, even 3 years; finally forcing the banks to complete the foreclosure process and take the properties back...hence making them REOs.
If you haven't yet added REOs to your investing business, you are really missing out on a huge goldmine that is just starting to gain momentum.
Creating a buyers list is critical for a successfully REO business. Here are 5 fast ways you can build your REO buyers list.
Bandit Signs
Bandit Signs are a fast and cheap way to grow your REO buyers list. While you can find good prices online, most of the time once you include shipping and handling you're better off buying them locally, so don't waste too much time here.
Once you have your signs, all you need is a large black permanent marker and you are ready to go. You'll want to make sure you have a strong headline like: FREE REO Property List or Houses 50% of Market Value.
Add one or two additional description lines and put your phone number REAL BIG at the bottom. All that's left to do is simply put them out and listen to your phone ring! It really is that simple. One note, I would highly recommend getting a separate phone number so you don't overload your main phone with calls!
Real Estate Investor Associations (REIAs)
Local investor clubs are a great way to build your buyers list as well. I would recommend either putting together a REO Hot Properties List flyer or even a "property (a real deal)" business card with your contact information on the other side.
Offer them something free to either drive them to your website to register or call your REO hotline. Make sure your free item is something of real and useful so they will come back for more.
Free Online Classified Sites
Free online classified sites are also a great tool. First, they are free which is always great for those needing to build their list on a budget starting out.
As with bandit signs, you'll want to make sure you have a great headline to draw their attention and give them several ways to contact you. I would again recommend offering something of value for free which should entice them to go to your website or give you a call.
Free Video Posting Sites
Free video posting sites have really taken off in the last few years. These sites are only getting better and are a great way to find buyers.
Your video should be no longer than 2-3 minutes and allow you to sell not only your properties but yourself as well. If a picture is truly worth 1000 words than a good video is worth 100,000! Just make sure that your video stands out and makes people want to watch. If not, it will quickly fade into the background.
Property Blog
Property blogs are also phenomenal for finding buyers. For those not familiar with blogs, they are very similar to a website but also offer you the ability to interact via "comments and post" with your visitors. You can get a free blog at Wordpress.org and with just a in a few simple steps you are ready to go.
To really be successful with a blog, you need to post often and provide value information to make your visitors come back on a regular basis. You can showcase your deals or simply offer educational post to really give extra value and earn quick credibility.
Questions and Answers
Article Tags:
reo investing
,foreclosures
,short sales
,finding buyers
,sell house fast
,sell my house fast
In a market full of mortgages going into default, a lot of real estate investors are never sure which way to go to get the best deals. Do you get foreclosed REOs from the bank? Do you do short sales to buy the houses for less than the mortgage balance? Or do you stick to buying houses directly from motivated sellers? This article sheds some light into these 3 situations.
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