If you are a real estate investor or a real estate wholesaler, you will probably be building a cash buyers list at some point in time in your career. Do you know what to expect from that conversation? Do you know what information you need to acquire from that conversation? I want to help you make sure your conversations are effective and that you are not thrown off by the responses you receive.
The core information you must gather is the following:
- Where do they want to invest?
- What do they want to invest in?
- What price point do they want to buy at?
- How many are they buying a month?
- What is their exit strategy?
- What types of repairs are they not willing to do?
- How much profit do they want?
You will know what their perfect deals looks like and feels like. You will know what they will buy. Anyone who runs their real estate investing business like an actual business will be able to tell you very specific criteria for the properties they typically buy. If the conversation becomes awkward or seems to not be going anywhere, then you probably are speaking with someone who does not have clearly defined investment criteria or is new to the real estate investment business. In this case, you need to move on and not waste your time with this person, who will waste your time.