Jun 9 • Discussion
Why Finding Buyers First Beats the "Field of Dreams" Approach
If you haven't heard it yet, you probably will at some point soon:
"Get a great deal under contract and the money will come."
It's what I call the "Field of Dreams" approach after the movie of the same name, in which the protagonist played by Kevin Costner hears a voice whisper, "If you build it, he will come," referring to disgraced ballplayer Shoeless Joe Jackson.
Actually, it's true.
Having an amazing deal under contract will make the dispo process MUCH easier.
But having a solid bench of ready, willing and able buyers at your twitching fingertips makes knowing what a great deal is and isn't also makes the whole process go easier.
Getting a deal under contract at too high of a price will kill your chances of being able to flip it fast.
And the best way to gauge price is by knowing what your buyers will buy before putting the deal under contract.
Of course, if you set it up right, you can back out or renegotiate during your due diligence. But it's SO much more fun to get the number right from the get-go.
How do you find buyers for your deals?
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Why Finding Buyers First Beats the "Field of Dreams" Approach
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