I think the earlier poster nailed it when he said to find a deal then make your calls. I get three to four calls every couple of weeks from newbies telling me all of the wonderful things they can do, but they never have anything tangible in hand. (Just endless questions and promises). Out of twenty or so if these calls, only one guy actually came through and called me back with a possible deal.
Also, when you say the investor can just sit back and relax and write checks, just what to you mean by that?
What is your game plan in terms of investing i.e. rehabs, lease/options, rentals, wholesaling? Are you proficient enough in these areas to handle a deal on your own?
Can you convince a fat cat to put up the money based on your skill level?
I just want you to take a serious look at your plan. Friends and family may be better places to look for seed money if you are just starting out.
I would bet that most,if not all, experienced investors would not be willing to fund someone without a proven track record. Usually its the other way around with the inexperienced person bringing cash to work with the experienced person. That how I started.
How do a person find an investor to do a house-by-house joint venture with? I will do the leg work while the investors (sits back and relax) use their funds. What are some good places to look for prospects? I am cash poor, but I have a lot of drive. I am looking to get started and then go out on my own without anyone when I have some seed money. Should I try to find a bigshot real estate investor who has little time? I did a search on the web with little results.
PLease help!!!
Rhonda
Here?s an idea to get some experience so that it is easier for you to raise money from investors. There are properties available to buy that require limited cash (you?ll need your serious hunting gear on to find them). Spend your time finding these types of deals and doing them yourself. After doing a few of these types of deals, you will now have a track record and experience to brag about to money partners.
Here?s another idea to find money partners without experience. Find the deal and have everything set up so that the risk is minimized for the money partner. Do the Market Research and find properties that can be bought for 75% or less of Market Value. Then run some ads, flyers, signs and develop a data base of buyers. For example, ?here is the comp it is worth 110K, we can buy for 85K and I have a data base of 22 people who would like to buy it from us.? By doing this you can let the market be your successful track record.
When you search for money partners, search for partners that do not have experience. You should look for partners that DO NOT have the time or expertise, but have cash to invest?.you will have the expertise and time and they will have the cash. This makes for a much more comfortable business relationship?.
Go to the top floor and see the person in charge. If they don’t like the idea, go to the next floor and say the guy above sent you.
Finding rich people isn’t all that hard. Convincing them you’re for real is. Once you get established, I don’t think you’ll have a problem. It’s the getting started part that sucks. I know. I’m still in that stage. lol!
Re: Finding $$$$ partners without experience - Posted by Stephanie
Posted by Stephanie on September 14, 2003 at 13:44:11:
I am a member of Nationwide Real Estate Discounters. I live in Southern CA. I have found a distressed residential piece of property. I need an invester to d
o joint venter with. Property is $80,000 under market. Want to fix up and resell asap. Help!
