Step 1- Set your Outcome: How many cash buyers do you want to have and by when. You should at least try the strategy for 30 days straight.
Step 2 - Focus: How much time per day can you put towards only finding cash buyers. Remove all distractions, TV, Email, phone, Facebook etc. Ask yourself, "Is what I'm doing right now getting me closer to my goals?"
Step 3 - Energy : Be willing to do what the average person wont do. I.E. going outside your comfort zone, constant positive attitude, no excuses etc.
Step 4 - Leverage: Other peoples time, reputation , money experience. Get a mentor, get someone to help you, 2-4 people are better than one. Make a competition out of it who can find the most cash buyers.
Step 5 - Commit: Don't quit. Have an accountability partner that reminds you of your goals everyday.
Review your goals and plan twice a day.
In my opinion, the fastest way to build your buyers list is to get on the phone and call people. Avoid online at first. A lot of cash buyers are also too busy working to be searching for people online which makes you a VALUABLE asset to their team once you find them.
Outcome is: 50 Cash Buyers ready to buy properties.
Action Step: Contact 100 Real Estate professionals and get add them to your list. The benefit to them is, if they refer a cash buyer that closes on a property you have under contract they will receive a lead generation fee/present of your choice. Also ask for 3 Referrals to call.
Contacts per day: 14 (with leverage you can get that to 3-5 calls per day or zero)
Process: speak to 10 x each profession per week.
1) Contractors, Tradespeople
2) Real Estate Lawyers
3) Home Depot/ Lowes, hardware employees
4) Insurance Brokers
5) Building Inspectors
7) Hard Money Lenders
8) Real Estate Brokers and Realtors
9) Buyers at Real Estate Auctions
10) Bankers ( Secret Weapon )
After 1 week you should be at your goal of 50 cash buyers/investors.
Ninja Tip: Have a script ready with what you want to say and common questions you get asked.
Stay tuned for my next blog on what to do once you have tons of cash buyers.
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Auxo Homes is an asset management of the company portfolio of emerging markets. The majority of his investments are made in single family rental properties.
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