I have an investor...now what??

Question

I'm Adam, I live in the Cleveland area.  I came to the U.S around 10 years ago. I have always been approached by friends & friends of friends asking to start some kind of business investment in the U.S and I've always turned them down. After rubbing shoulders with people in the Real Estate business, I realized there might be a good opportunity here. I was recently approached by someone back home asking about investing in real estate. The guy is loaded and ready to bankroll. The problem is, I don't know where to start!

I'm hoping to find someone local and willing to partner with me in capitalizing on this opportunity. The goal is to expand and build a network of out of the country real estate investors. I really have no clue where to start.

Please feel free to reach out to me if you are interested. Or at least offer some advice and guidance.

Thank you

Adam Best · Answer

Thank you all. I really appreciate your advice.

Taylor L. · Answer

Others have given great advice so far. Also take the time to understand the laws around getting your friend's money into the US. It might be difficult, depending on where they're from.

Jacob Repreza · Answer

Hey Adam! That's a good problem to have! Abels advice is the best place to start. Having the money is fantastic but setting a clear goal is the best place to start. Do they wanna be aggressive with appreciation? Do they want rents? Money spread into multiple properties? All in 1 or 2 larger apartment buildings? From there you gotta find the inventory! In Cleveland you have plenty of cash flow opportunities with great returns (which is why we invest over there)so that shouldn't be too much of an issue. If they are similar to the overseas investors that invest here in newport beach, CA then cleveland might not be the right market. All depends what they want. Let me know if you need more help my inbox is always open!

Abel Curiel · Answer

Hello Adam,

That is exciting to hear! Looks like your friends/family saw something years ahead of time and its time to take action...

I recommend getting as detailed as possible with respect to the investment goal and the ideal property/properties that you'd like to begin with. i.e. Residential (2-4 units), Commercial Residential (5+ units), Mixed use, House-flipping, etc.

Once you have a clearer idea on the deal and target market(s), you can shop online for deals or reach out to an investor-friendly realtor/agent who can provide listings and guidance.

Best of luck to you moving forward!

Abel