In the real estate investing space, one common strategy is called wholesaling:
You find a property that looks vacant, with overgrown grass out front, and maybe with notices piling up on the front door.
You somehow track down the owner, who is often living out of state, and thinks this house is a nuisance. So you make him an offer to buy.
If he agrees, you get the property under contract. This means you have the right to buy it.
And then what?
Then you go to your “cash buyers list” — your list of other real estate investors.
You explain the deal you have. And you find an investor who is willing to buy this property from you for more money than what the contract says you have to pay. You then keep the difference.
Yesterday, I talked about going to other industries to find unique ideas that work well. And the first thing that popped into my mind is the cash buyers list.
That’s because I heard a very successful real estate investor talking about it recently. He said that most investors are short-sighted. They only treat their cash buyers list as just that, a list of people who have cash to buy a wholesale contract.
But a cash buyers list, this investor said, is so much more powerful. According to him, it’s actually the no. 1 asset in real estate investing.
Your cash buyers list can provide you with everything you need. More deals… learning and training opportunities… talent if you’re hiring… partnerships if you want ’em… solutions for when you’re in trouble. Whatever you need, tap into your cash buyers list, and results will follow.
So I got to thinking what a cash buyers list would look like outside the real estate space. Fortunately, it doesn’t take much creativity to map real estate investing to the online business world.
The online business world also has dilapidated, vacant properties… it has easy ways to fix those properties and flip them once they’re more valuable… and it also has a range of people who might want to get involved in this process at various stages.
Maybe that sounds abstract. Maybe this will be more concrete:
Over the past five and some years, I’ve learned a lot about copywriting and online marketing. But I’ve mostly used that knowledge to make other people money.
So I had a vision. It involved finding blogs or websites that have something to them — traffic, proof, content — but that are under-performing.
I imagined taking control of such online properties and using everything I’ve learned about direct marketing and copywriting to get them to perform. Then either sitting on that property and collecting rent… or selling it to somebody who wants it, for enough money, and moving on to the next thing.
This sounds great to me. But here’s the trouble:
Doing all this can take a lot of money, time, and work.
I am not interested in supplying all of that myself. That’s why I am starting my own “cash buyers list.”
So here’s my offer to you for tonight:
If you are interested in buying a profitable online business down the line…
Or if you are interested in putting down money ahead of time for a fix-and-flip blog or online store, so you can take a part of the profits it might one day generate…
Or if you have some unique skill — media buying, design, research, technology — and you want to shoulder some of the work of finding and sprucing up various online fixer-uppers…
Then I’d like to talk to you. I mean for real, on the phone or on Skype or Zoom. I want to find out what you’re looking for, and how I can help you get there. Write me an email and we can go from there.