Need Investers

[Greg Pierce]

I like to know what it would take to find a investor to front the money needed to purchase a multi-family home. I have no money and my credit is shot. Banks will not lend me money. For every inquiry the banks put on my credit my score went down. Now I'm stuck between a rock and a hard place. Because of this I stopped looking for properties. I would like to invest into multi-family properties to generate an income. I am fully aware this will not be an overnight type of deal and it will take time to be successful.  I am open to suggestions or offers. 

[David Thompson]

Hi Greg,

I read your profile and mentioned you are near retirement but you are saying you have no money. So, check off no money as an asset you would be able to bring to the table for now, no problem.  As Tyson is suggesting, what skill are you able to bring to the table where credible investors would want to invest w/you.  Without a track record that is difficult.  Now, I see a couple ways you could start moving out between the rocks.  

1) Find deals and market them to others for sale.

2) Find partners who are good at finding deals and better if they have some track record, and go raise money for them leveraging their experience / deals and helping them get bigger deals.

Essentially, a partnerships of 2 to 3 folks could see broken up in the following roles:  1) Person that loves to find the deal; 2) Capital raiser; 3) Person that manages E2E aspects of the deal from acquisition, financing, renovations, property or asset mgt, etc.  These roles can overlap and be shared of course but the main point is, what resonates w/you, what skill do you think you have and once you identify that, go out study, find a mentor, coach or whatever it takes to be the best you can be at it.  Then go to local meetup groups or find folks online w/BP in your area that are looking for that skill set you can bring to the table.  

If you think this would take a long time, think again.  With the power of desire and intention, you can amaze yourself !  But you have to quit thinking what you don't have and be a forward thinker around what can I offer and get better at.  Focus on your strengths not your weaknesses and build on that.  See what happened when Michael Jordan tried to play baseball.  I went from no job, to getting a coach to learn about MF, then asking the coach how I can help....this is essentially what I did....check these podcasts out.  Don't worry about my background or where I started, think about you, and what's possible by listening below to the two part podcast.

 http://www.kevinbupp.com/10-lessons-to-raising-cap...

http://www.kevinbupp.com/10-lessons-to-raising-cap...