The Science of Flipping - Best Strategies To Build That Buyers List

Starting point is 00:00:00 Yo, yo, what is up everybody? What is up? Welcome back to the science of flipping podcast. And as you can see, as long as you're watching this on YouTube, I'm still recording these in my car because my house still doesn't have rugs, no drapes, and no way for the sound not to echo because apparently not only is everything sold out, but they're sitting in cargo on the coast of California. So I can't get anything. It's really exciting stuff moving across country. Anyways, now that I've vented a little bit here on this episode, hopefully you guys are here because you want to be expert real estate investors because that is what this podcast is all about. I want to be able to teach you the best practices, the best operating procedures for your real estate

Starting point is 00:01:02 investing, whether you're wholesaling, flipping, buying and holding, or otherwise. Now, I just came off my two-day intensive where I had roughly 50 people join me to learn exactly what I do in my business. Quite literally, I bring in my team. I bring in all my resources. I bring in my lenders. I bring in my creative finance geniuses behind me to help me structure these deals. I bring in everybody, my managers, my acquisition team, my disposition team. So you can learn from me and my team. And so I had a great two days in Scottsdale, Arizona. If you want to be a part of the next one, it's actually going to be in January in Austin, Texas. So I'd love for you guys to make it to the next one if you were not a part of this one. And so one of the things that came up was kind of best practices to become a badass wholesaler,

Starting point is 00:01:55 specifically how to build your buyers list, right? So I went through kind of these best practices on what you can be doing daily to be building a badass buyers list. Now, a lot of people were saying hedge funds, hedge funds, iBuyers, get in touch with them. Now, they are right. Okay. So you want to do a good job getting in touch of and in front of these hedge fund buyers, iBuyers, et cetera. Now, a lot of the people who are connected to them are agents. So here's what I actually like to advise doing rather than trying to navigate calling them and things of that nature, which they are becoming more readily available. But with that said,

Starting point is 00:02:40 I will tell you one best strategy to consistently build your buyers list, but also get in front of these hedge funds is realtors. Okay. Realtors typically have those relationships because hedge funds tend to lean on realtors a ton. And so, you know, one of the best ways for realtors or to find realtors will be, well, not one of, but several best ways, right? So Zillow is one of them, right? So if you go on to Zillow, you will be able to go see listings, right? Active listings, sold comps, et cetera. Reach out to those agents in that area. Now you might be thinking, Justin, but I don't have a deal yet. I have nothing to reach out to them for. Yeah, you might not, but your other wholesalers might. And that's where you can leverage other people's deals to at least open the conversation. So, you know, I have plenty of friends that have

Starting point is 00:03:38 deals. And if I was just getting started, I would be able to take that deal and open the door slightly to have that conversation with the realtor, which is going to give me confidence. I might not have my own deal, but they have a deal that I want to be able to leverage to open the door with those realtors. So again, utilizing Zillow, looking at active listings as well as closed listings is really one best practice that we use every single day in our business, right? The next thing will be realtor.com. You can put in a zip code, you can put in a county, right? That you can actually leverage the other deal from another wholesaler, right? And then you can go in and have those conversations with realtors in those zip codes. And lastly, you can use prop stream to go find

Starting point is 00:04:33 cash transactions, uh, through zip code or, um, county and look up the realtors that were a part of that transaction and go ahead and give them a call. Let them know that you know that they have investing buyers and clients and that you have deal that is off market that you're contemplating whether you're going to remodel or whatnot, but you also might consider selling it. This is the best way, especially virtually for you to get in front of active buyers and hedge funds, which is through realtors. Okay. The other way that we navigate building a buyer's list actively to find great buy and hold people, to find great flips, especially if you're talking about nationally, will be through Facebook, right? There are a lot of active investors in Facebook that are buying from wholesalers. Now you have, uh, hundreds of real estate investing groups, um, including mine,

Starting point is 00:05:32 the science of flipping that you can go in and you can search a term such as Miami, Florida, or Phoenix, Arizona, or what was the most recent one? Bandon, Oregon. We did a deal in Bandon, Oregon. You go in, you look up anyone who has typed in Bandon, Oregon. Maybe you look up a close city to Bandon because Bandon's a little rural. It's not necessarily in a major city or town. And then you reach out to them. You friend request them, you send them a message and you try to jump on the phone. Now, part of my best practices with my team will be this idea of getting on the phone with them. I don't like just sending a message. Hey bro, what do you want? That's not the game here. The game is getting on the phone with them, helping you understand what type of homes are actively trying to buy. Are they buying for flip purposes? Are they buying for buy and

Starting point is 00:06:31 hold purposes? Understand that and you'll understand how to get active buyers that you can simply text. The funny thing about that is I sell more properties via texting a handful of my buyers than I do by sending it out to my buyers list because we built that rapport with the buyer so that they trust us. They know we're going to deliver a good product. They know we can close on time. There's very rarely any circumstantial issues that happen. We make it very, very easy for that buyer. And so the vast majority of deals that we

Starting point is 00:07:07 sell are through text message, not through email blast. But we sell a bunch of deals every month. So yes, of course, we sell through email blast. So if you are looking, and you should be, by the way, the best practice, the reason why this became such a hot issue is because I basically emphasized during my two-day intensive how important it is to have a relationship with your buyers and what are the best practices. And then people were saying, well, you know, I don't have a deal. And the conversation just came up about you need to not worry about whether you have a deal per se. You need to make sure you have buyers. And even more importantly, you want to make sure that you have retail buyers, you have hedge fund buyers, right? You have I buyers who will pay top dollar. Well, the easiest way to have that relationship

Starting point is 00:07:56 will be through agents. Agents tend to have that relationship. The reason why I've sold so many properties to the hedge funds and to the I buyers in Phoenix is because I had a realtor group who held their account. And if you're watching this, you saw I just put bunny ears up. By the way, if you're not watching this and you're listening to this on iTunes, give me a five-star review. I'd greatly appreciate this. But also, get over to youtube.com forward slash Justin Colby and subscribe to my channel. Drop in six videos a week, subscribe to my channel, Justin Colby, and turn on those notifications. So you get notified when I drop a new podcast or video right there on YouTube. Now, uh, back to the point. So I say they have an account with bunny ears is because

Starting point is 00:08:47 hedge funds and I buyers, they're pretty loyal, but at the end of the day, any agent can bring them a deal, right? And they need to buy. Now, again, I'm going to remove this cause I've already talked about it, but yes, Zillow has stopped buying. I understand that they're selling off properties. There are still a ton. I mean, a ton of funds buying right now. I can think of progressive, uh, Blackstone and Blackstone has like seven, 10, 12 different entities. They buy in SFR is the main one that I can think of. They have like SFR one, SFR two, three, et cetera. Um, invitation homes, um, rooftop. I mean, there's just, there's plenty of them, right? And so you need to find them. The best way to find them is through a realtor because the realtor is going to be able to get a commission on their sale of property or get a commission on their buy. Right. And so I now have learned recently, we just sold our first deal in a true

Starting point is 00:09:47 assignment to a fund out in Phoenix, that they took an actual true assignment. We didn't have to get very creative and it worked and it closed. And we are very happy about that because prior to that, we were doing a lot of kind of creative stuff and splitting commissions and things of that nature to try to get their deals closed. So I digress. I circle back to this. I don't care where you're at in your business. I don't care if you're a newbie or a veteran. I'm 14 years deep in this game and my business is consistently adding buyers I would say and I'm gonna confirm this we're adding anywhere from five to ten buyers a day to our buyers list now We're buying and wholesaling nationally. So, you know our number I want our number to be even larger, right? We are You know getting deals contract in states

Starting point is 00:10:42 we don't know people so I want more than five to ten because we're getting deals done in Jersey and New York and Kansas and Oregon and Texas and Kansas. I already said Kansas, but just to name a few states that we're getting deals done in that we don't necessarily have those buyers. So it doesn't matter where you're at in your business. I don't care if you're a newbie. I don't care if you're a veteran, you need to be building your active buyers list. Zillow prop stream realtor.com are the easiest ways. If you go to prop stream, just put in promo code T S O F go to TSOF data.com TSOF data.com put in a promo code TSOF. They will give you a free 10,000 person list download. Okay. Free 10,000 person list download, utilize it, take advantage of it and start building the active buyers list. Now, again, if you're listening to this on iTunes, give a five-star review. I would love that, but just as importantly, get over to YouTube, youtube.com forward slash

Starting point is 00:11:45 Justin Colby, subscribe to my channel and make sure you are turning on those notifications. So you see when each and every one of my videos drop, hopefully it's found you. Well, I look forward to talking to you guys on the next podcast. See you when I see you. Peace.

The Science of Flipping - Best Strategies To Build That Buyers List

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