If you’re in the market of selling a property, then you need to know what your options actually are. Many people jump right in to listing their property with a realtor, but there is another option that is could be much better suited for you. A second option, widely used by Minnesota real estate investors, is to sell your property to a wholesale, cash buyer.
First off, let’s define what a cash buyer for a wholesale deal is. There are types of real estate investors who seek to buy properties at a wholesale value. They oftentimes buy properties so that they can flip them to make a profit. For example, if there was a rundown, older home in Minnesota with little value, the owner could put their home up for wholesale to a cash buyer. A cash buyer could then purchase the home, say for $80,000. They could then spend $20,000 to renovate and improve the home and sell it for $150,000. This would make them a profit of $50,000.
There are several benefits to selling wholesale instead of selling through a real estate investor who is a realtor. The most notable benefit to selling wholesale is that it is a much quicker process than listing via realtors.
Now, the big question: How do you find cash buyers for your wholesale real estate deals?
We’ll use Minnesota real estate investors as an example. You have to make the first step and approach them. They’ll never know you’re selling wholesale unless you first tell them. There are several ways to go about this.
The first option is to keep your eyes open for advertisements from cash buyers, both in the papers and on billboards. Oftentimes Minnesota real estate investors will have billboard ads on the highways or ads in the local or state newspapers. Your second option is to put your own ad in the newspaper. Put an ad into your local paper saying that you’re looking for a Minnesota real estate investor to sell your property to. A third option is using the internet. You can search for real estate investors on many online sites. You may even be able to find them by using search engines. In some metropolitan areas there are real estate investment clubs. This is a group of buyers who meet on a monthly basis. This may be a good place to find cash buyers. Finally, an option that will get your name out to cash buyers is at a foreclosure auction. Many who attend these auctions are cash buyers. If you can let those in attendance know what properties you own, maybe you can snag yourself a buyer.
There are lots of ways to find your own Minnesota real estate investors if you know where to look. Hopefully this article has taken off some of the stress on you as you seek to find a cash buyer for the property you’re trying to sell! Best of luck!