The most important aspect of succeeding in your business and being able to sell your properties fast will be your database. This is because to be able to sell your properties fast you must have ready, able and willing buyers to sell to. I say it’s much easier to find a house for a buyer than it is to find a buyer for a house.

Having said this, I want to share some methods of building databases that you can use.

You’ll probably want to use an online database program to keep up with your contacts because an online service is usually more up to date and they have more features. Also, it’s more automated than having your own computer program.

For example, if you have your own program and someone wants to unsubscribe from your email list, you’ll have to go in manually and unsubscribe them.

However, if you use an online service, when someone clicks on the link in your email to unsubscribe then it is automatic. You simply receive an email notifying you that the person has unsubscribed.

Another advantage of an online system is that you can access it from anywhere. In addition to using your database with your auto responders you can email, call or direct mail them at anytime. If you have a special need for a particular property or buyer you can send a quick email to your database.

If you have a property you need to sell very fast then you can send out an email about that too. There is no limit to the uses.

Here are a few ideas to build your database.

Investors:

  • Call every “I buy Houses” ad and sign that you see and tell them you are a wholesaler and want to add them to your database.
  • Run an ad: “Handyman Specials, Cheap, Cash” and your phone will ring off the hook.Tell them you ran the ad to find investors to buy the properties you are getting and that you’ll email or call with the next great deal you have.
  • Join real estate Yahoo or Google groups and email them asking for investors to sell your properties to.
  • Set up your own webpage on one of the social networking sites like facebook and then invite others to become your friend that have the keywords “real estate” in their pages.

Realtors:
Every time you talk to a realtor ask them for their email address so you can “stay in touch” and buy more properties.

For Sale by Owners:
Every time you talk to a FSBO or see an ad on a website, call or email them and be sure to ask them if you can add them to your database to stay in touch. Also, any time you make an offer to a seller you want to get their email address so you can follow.

Retail Buyers:
The best way to build a list of retail buyers is to look online at some of the FREE classified sites that have buyers running ads. Run your own ad similar to: “Newly remodeled homes. Ready to move into. Payments to fit your budget. Down payment and closing cost assistance available”. Your phone will ring off the hook. Just let them know that you don’t currently have any properties but you’re going to have some soon. Then simply add them to your database.

Another advantage of having a database is having a group of vendors in case you have a property where you need to get something done fast. You simply email your list of vendors to find out who can help you out quickly.

2 thoughts on “How to Start and Use a Database for Investing”

  1. A good article, but what online databases do you recommend? I’m checking the resources section too but a link or a note to the list would be helpful. I probably have this in my notes too and just need to refresh myself.

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