Investor stealing deals?

Question

So I'm curious, you're relying on finding an investor to fund a property purchase or reno.  How do go about going over the details of the property with out having to give away the exact property in fear of that investor going out and stealing the property from you.

This question is more for when you're starting out or starting to work with an investor for the first time.  I'm sure once you've established a relationship you'll know how that other person works and know that something like that would or would not be an issue.

Peter Vekselman · Answer

@Bernard Chouinard you cannot build this business from stand point of fear.  In the end I have come to realize with over 15 years doing real estate very few people are out there purposely screwing other people.

This community is pretty tight nit.  If a money guy is out there getting looks at deals and in the end going around his people to get them himself the word will very quickly get out there about him.

There are way more important issues for you to be dealing with as a beginner then about someone actually going around you in a deal.

Stay more focused on actually getting a good deal.

If you need more help just PM me...

Peter

Bryan O. · Answer

@Bernard Chouinard If you are partnering with that type of investor then I would be glad that he stole it before you were in bed together on the deal. Cross him off your list, let your network know he has no integrity, and move on to your next deal. People who operate that way will eventually have nowhere to turn for a deal.

Bernard Chouinard · Answer

Thank you @Bryan Otteson.  Luckily I have yet to come across this problem, it was more of a general.  What if I posted a property on BP or even talked to someone.  Would you give them the address with out having secured a contract from either parties?  What's really funny is shortly after I posted I did end up listening to one of the BP podcasts where Brandon and Josh talk about it.

David Dachtera · Answer

@Bernard Chouinard,

One approach might be to treat it as a wholesale deal and already have it under contract when you approach someone for funding, especially someone you've just met.

David J Dachtera

Investor stealing deals?

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