Many seasoned real estate investors also known as cash buyers forget to keep up their cash buyers list. What do I mean? Any business at any time will be receiving leads from their marketing that do not fit their business model. What do they do with this excess? They should refer it to other businesses that have a different business focus and make some money from those referrals. It keeps them networking in the business with like minded business associates and it helps out customers get their needs met. It is a win-win-win. So, if you are a seasoned real estate investor, it would be in your best interest to always maintain a list of fellow cash buyers who have a different (business model) set of investment criteria than you. You will be able to recoup more of your marketing dollars than you would if you did not and you get the opportunity to make money from real estate leads that you normally would not have seen any money from.
It is a great way to receive additional real estate leads too, because your colleagues in the industry cannot take down every real estate deal they come across nor would they. Your fellow colleagues are cash buyers too who have very specific investment criteria that they stick to as well.
One last thought on cash buyers maintaining their own cash buyers list, if you are a landlord for example and you become cash strapped, how will you continue making money in real estate while you are resolving your cash issue? Most cash buyers, who are landlords, will have to sit on the sideline while they wait for that refinance or to acquire more cash options. Why do that when you can have a cash buyers list that you continue to pass properties onto and make money that can help you cash flow problem and strengthen your place in the local real estate market as someone who is the go to person for buying a selling of great properties.
by maintaining your own cash buyers list, you are building a successful business model by which to continue to build and grow a very successful real estate investing career. It has worked for many other industries as a successful business model, why can’t it work for you in the real estate industry.