How do I find buyers?

Question

Hello BP members,

I´m in a bit of a dilemma with a property I am looking to invest in. Purchase price is $45,000.00 and I offered $38,500. Earnest money deposit is $250.00 and Rehab costs will be around $25,000 to $30,000.00 (roughly). The house could sale for $90,000.00. I have my subs lined up also. I am looking for a private lender but I don´t know how to go about doing it, what relationships do I need to build, and what the requirements are. Any suggestions anyone? Just need a little help if at all possible. Thanks

Rick Pozos · Answer

Do you have the property under contract at the title company already??

What you should have already done is go to your local real estate investor associations to network with other investors. You have to know people who are in the business. Some people think that they are your competitors, but really they are the people who know exactly what you do and can partner with you when you need it (like right now).

Networking is the only way to meet more investors. Put something out on facebook, linkedin, or any other social media that you have. Get the network that you have moving to find you a partner or at least someone to get that deal to so that you can wholesale it to someone else.

Maybe you can do a search for people in your area here on BP. Send them a short message asking them if they know anyone interested in your neighborhood. That might start a conversation that will lead to other things.

Terrez Jarrett · Answer

Not yet but the seller has accepted my offer and  we are not closing until January 4th due to tenants still present in the home. Thanks MUCH for the advise sir. It´s very helpful and I´m on it now.