I recently developed a new relationship that has connections to Investors with deep pockets that are looking for ways to invest, in anything.
Without going into too many details, these are professional athletes looking to invest without being involved. Silent Investors, if you will.
I've recently been reading a lot about wholesaling and was almost ready to jump in, head first. This has thrown a curve ball my way though, because I'm not quite sure what we can do.
I'm thinking about going the wholesale route but rather than assigning the contract, actually keeping the property and rehabbing it.
What would you guys do if you ran into a situation where you had access to lots and lots of capital but had never done any kind of real estate deals?
Thanks in advance!
I would be open to discussing partnerships if someone has any ideas.
You will need to get LOTS of education before you start risking everyone's money. I would definitely look into getting a partner to show you the ropes in whichever direction you want to take things. There are many ways to be successful and you have a great leg up. If they want to be hands off, maybe you can direct their funds for lending to those with experience? Let them be the bank. Best of luck.
Oh, and welcome to BP!
Great job getting out there and making things happen.
Buyers are Liars.
(I'm 50/50 on this..meaning, maybe your contact has direct access to Hershel Walker (he's worth about 12 mm I've read) or maybe your contact is 3 levels removed from a bankrupt former major baseball player. My point is you don't really know. So don't stop with this single source. Keep NetWorking! (its called work for a reason)
So, I would tread lightly here, because, you have what some vets call: a Daisy Chain; meaning you are one step (or more) removed from the decision maker.) Once you have several cash buyers or investors, ask what they want and go get it for them. Simple formula that works over and over.