Try the ads again only this time qualify them and keep them on file. Tell them about your last deal and say it is too late, you got an investor real fast, but you will put their name down on your waiting list and call them on the next deal.
When you have a deal cooking call up your investors one by one and get a committment.
Once you have done a few you will have references and word of mouth advertising going for you.
In fact if you have done a few deals successfully and paid off your investors you should be able to use the same ones over again easier than looking for new ones. And they should be referring their friends.
As long as you are honest and don’t burn your investors they should go into your deals again and again.
BIG RETURNS-NEED BIG POT OF MONEY - Posted by Al - So Cal
Posted by Al - So Cal on January 21, 2002 at 15:54:29:
Have always made big returns on real estate since starting
out by finding good deals. Last one $211,000 gross profit
with $26000 down. Problem is I want to create a big cash
pool to operate from. Ads dont work because investors want to see what you have. I have to buy on the spot or offers pour in and cant operate that way.
Any suggestions where to go?
These are 1 to 4 units and banks are real fuddy duddies
in this area right now .
Try a working line of credit. The cash is available for you to use to pay cash for a property and then you can either sell off the properties or seasion them on the line and then refinance them. If you are going in with owner financing or subject 2 and just need a cash d/p, then the working line or credit may still work for you.