Buyer first, then the house. My second deal never got publicly marketed anywhere
First deal I did the normal way, locked a property and then panicked for two weeks looking for someone to take it. Fee was $3,100 and I nearly blew the closing date.
This one I ran backwards. A landlord who buys 3/1s in one specific set of zip codes gave me his criteria in writing, in an email I still have. Under $120,000 all in, no slab issues, will take occupied, closes in 21 days with his own funds. So I had the exit before I had anything to sell.
Then I mailed 900 absentee owners in exactly those zips. Got 31 calls, walked 6 houses, contracted one at $96,000. Assigned at $104,500. Fee $8,500. Mail and skip tracing cost me about $1,050.
The part that nearly broke it: his proof of funds came back on an account in his partner's name, and my seller, who was already nervous, read that as me not having a real buyer. Nine days of extension requests and one very long phone call where I read her the assignment paragraph she'd already signed. She held. If she'd walked I had no backup buyer for that particular house because I'd stopped building a general list.
What I'd keep: the written buy box. Having a buyer's actual numbers in an email changed what I offered sellers, because I was solving for his ceiling instead of guessing at a market. What I'd change: one written buy box is a single point of failure and I know it.