Best Way to Locate Investors 11 posts by 10 users

Posted: 03/20/2008 at 07:53PM

I am looking to locate a list of investors in my area since there are so many good deals (for CA) in my general area.

Someone suggested bandit signs but, our cities are all over getting those down and fining you for putting them up. I tried craigslist, and was not successful.

I have attended some Meetup re investor meetings that seem to be conduits for real estate agents to attract people.

Are REI clubs that advertise the national stuff any better for locating investors?

How do I tell a seasoned investor from a newby at the REI?

Any suggestions would help. I am trying to build a bird dog or wholesale business fast time.

Posted: 03/21/2008 at 09:35AM

Go to your local REIA meetings, hand out your cards at local real estate auctions, create a website for investors. Just a few ideas.

Posted: 03/21/2008 at 10:52AM

I'll jump in on this one . . . in determining if someone is a novice or experienced, asking them how many deals they have done may not get you the answer you seek, as people often tend to lie when they are inexperienced. Simply by listening to the questions people ask you, seeing how prepared they are in dealing with circumstances, and considering how and what kind of offers people write, will help you determine if someone has been around or is just getting going.

As for finding investors, REI clubs are a great place to start, as is going to property foreclosure auctions. At an auction, you'll likely run into a ton of investors who you should then start to make moves and network with. There are many other ways to connect as well, including networking right here on BiggerPockets. With thousands of investors from around the country, you can certainly meet people who may turn out to do business with you.

Get out there and make it happen!

Posted: 03/21/2008 at 04:28PM

All great advice for the question. It is very true that throughout the journey of locating investors, you will run into many liars/phonies who claim to have experience, but really do not. This is not to say that you should not include rookies and newbies in your investor database, as you become the professional who structures RE deals for them. A lot of investors simply do not have the time or the knowledge to find and structure good deals and would be interested in working with a competant RE pro who can deliver great deals to their doorstep.

Good luck with your RE venture and do not forget to contact me when you have a great deal to wholesale or pass on to an investor.

Posted: 03/22/2008 at 10:13AM

I will jump on the bandwagon about the Clubs. GO TO THEM! Many of the " experience" investors are not really into the topic being presented but rather are at the back of the room, off to the side, etc just networking, talking and telling " fish" stories.

When it comes to knowing who is serious and not, Josh hits it right. Take what you have learned on BP and ask questions. Their ability to give a real answer and how quickly they can do it are key. When I say REAL, think about what they said, did they actually give you an answer or tap dance around it as they might be trained to do by their GURU Mentors.

Trust me, you will know. Also when people are talking, LISTEN. You will hear little tips and tricks coming out and the ones that offer the ones that are obviously only learned by being a true investor, go to them

4rgmt you couldn't of said that any better about people tap dancing around your questions, I was just dealing with that a couple of days ago!

Posted: 04/02/2008 at 12:17PM

in my experience, the best way to build a buyer's list is to actually have good deals. then present them at your local investor's meeting, or discussion board.

how can you tell a newbie from a pro? easy......... the newbie will ask 10 million questions and want info, pics, repair estimates, your blood type, SSN etc. (just kidding)
a professional investor only wants the numbers. and they make decisions QUICKLY. they'll give you a yes or no on a property quick. a newbie will mull it over and waste time.