30 Days to Real Estate Cash 59
You want to contact them soon, but you want to do it with knowledge about their investment activities.
Where Are They Buying? I’ve already talked about the need to map the purchases of these cash buyers. Some investors want properties close to where they live so that they can drive by them easily and keep tabs on them. Others have done market research and believe that there is more opportunity for profits, higher rents, or appreciation in certain areas. Whatever their reasons, you will begin to see patterns of inves- tor purchases in certain areas. This is very valuable information. Make notes on your buyer information sheets or fill in your CRM database fields with areas where each buyer is doing deals. How Much Are They Spending? Price ranges for purchases will often relate to areas but not al- ways. For each buyer, note the price(s) they’re paying for prop- erties. This may be a really great marketing tool for you. You’ll soon become familiar with area home price ranges and trends. When you find a deal with a possible purchase price that’s below the area average, and it is a good property, you have a really valuable deal to bring to your investors. Another way to use price to gain buyers and keep them com- ing back is to learn the price range for a buyer and bring them more house for the money. Some buyers have comfort levels or buying plans that dictate spending only within a certain range for each home they buy. Show a buyer that you can get them a larger home that will command more rent in their desired price range, and you’re going to be dealing with them regularly.
In its simplest form, just learning the price range in which an investor is buying, you have the first piece of information you
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