Newbie with access to funding... need advice please.

3 Replies

Hey BP, I just started a new position (about two weeks ago) at a fast growing funding company here in San Diego. A buddy recommended me and within a week I had an offer. Great place to work and the people are awesome to work with. I spend most of my day on the phone with small to mid-sized business owners. Then after work I jump in my car for the hour long commute home while listening to the BP podcast. Get home and check out the news and maybe BP forums.

I know this is completely ridiculous, but as a total newbie who has yet to do a deal (plan to do my first deal in early 2015) it took me quite a while to realize that my new position as a funding executive could be of use to Real Estate Investors. To be completely transparent, it wasn’t until a flipper from Texas reached out to me for some capital that this became apparent to me. I guess I was just too focused on learning the products to think outside the box. Since, I have spoken with quite a few flippers and contractors and realized that I could actually provide a solution for some Real Estate Investors.

That being said, I by no means want to troll on the site and fish for business. I would like some tips on how I can make myself available for the select type of REI's that could find some use for my services without being one of "those guys" who just use the site to drum up some sales.

Any advice would be greatly appreciated. Thanks guys. 

@Isaac Guzman , what is the company you work for and what do they fund and at what terms?

@Isaac Guzman  

As a hard/private money lender I find my best leads in off line networking meetings or finding people doing deals - driving neighborhoods, asking my clients for referrals and meeting people doing deals. Bigger pockets is a great site for a lot of purposes but i have found that it doesn't provide a lot of quality borrower leads. Just my experience. 

@Travis Sperr - thanks! That gives me a good idea of what I can expect. That in mind, my time will probably be best served learning REI rather than promoting funding here on BP.

Bruce M. - I work with Reliant Services Group (AKA Reliant Funding). #3 fastest growing company in San Diego in 2014 and #4 in 2014 (based on revenue). My office is right here off of Sorrento Valley Road. 

We provide unsecured funding lines for business entities. We primarily do micro business loans with 6-18 month payback periods (first round). We also provide our lines as a somewhat hybrid line of credit. Meaning that once a funded amount is 50-60% paid off, we can renew with longer terms and cheaper costs. With short payback times we don't do compounding interest or anything like that. A simple fixed cost of capital is applied to the principal (factor rate depends on terms, amounts and quals).

Let me know if there is anything I am missing as far as information I should be providing to people requesting info on our products.


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