The United States real estate market is for sale. Over the last several years there has been a lot of international interest in our housing market. The majority of foreign investors are buying in Florida, California, Texas, New York and Arizona. Canadians lead the international front for the most foreign investors in our economy. Combined, these investors have bought about $102 billion dollars’ worth of real estate, and 50% of them are buying with cash, per statistics from the National Association of Realtors. As a wholesaler, you do not want to ignore this class of cash investors. Sharpen your pencils, and let’s get to work. Let’s discuss some fantastic ways for you to find these investors, especially if you work in any of the states I listed above.
- Realtors: Build relationships with realtors in your area that specialize in working with international buyers. Let them know you are an investor who wants to bring investment deals to their clients. You can find international agents at larger brokerages like Sotheby’s, Keller Williams, ReMax, and many others.
- Foreign Realtors: Make sure to build relationship with foreign realtors as well. Talking to agents in the home countries of these investors is a great, quick way to get to them. Let these realtors know you want to work with them. Let them know you can bring great deals to their clients who are interested in investing in the United States.
- Local Community Groups: Find local community groups with an international presence like the Asian Chamber of Commerce. Go to their events and network. Find people in the group who can connect you to foreign investors.
- Get Online: Setup accounts on sites like LinkedIn. The online community is vast. Search out online groups for international investors and advertise yourself as a wholesaler who can help foreign investors find deals.
- Try to work with the Association of Foreign Investors in Real Estate. Their website is http://www.afire.org/. This site has a wealth of information on foreign investment trends in the states and many other topics that can help grow your business.
- Network: Get out to local international community events in your area. Talk to everyone let them know you are an investor who can help them or anyone they know find great real estate investment deals.
This is a market missed by MANY wholesalers who are trying to grow their business with real, committed investors. Don’t be afraid to approach these investors just because you are new or wholesaling. They all care about the numbers on the deal, and I know you can help them find many transactions. Add this group of investors to your buyers list, and I know it will make a great impact in your business.