How To Get/ Find Investors
I’m working on my 1st deal (it’s a HUGE deal) and I’m unsure on how to get investors. The owner and I had played around with the idea of seller financing. He decided it wasn’t in his best interest because he’s retiring and has been screwed before with seller financing. I wasn’t worried because I had an associate with a group of investors who seemed interested in the property. After looking at the property I emailed my associates the numbers I was allowed to (I haven’t signed the confidentiality agreement yet BUT the owner gave me each units rent and what they pay in CAM rent). It has been almost a week and they’re involved in other deals and I want to have some other investors in case they don’t follow through. Here’s some details on the property:
Property: Commercial Property (Shopping Center)
Combined Rents: $26,000
Combined CAM: $1800
Loans: Property has a loan of $1.2mil with a prepayment penalty of roughly $700k
ANY AND ALL advice would be great. Thanks!