Advice on connecting with other investors on larger deals

[David V.]

Hi, 

Recently been looking at alternative investments, particular rural land, subdividing. Some of these require a few hundred grand. How do I (or people in general) connect with some like minded investors, so each puts in a smaller portion? At the same time the partners might complement each other, etc.

Alternatively, how do I connect with hard money lenders? 

[Juan Carlos Gastelum]

Hello David.  I understand the scaling-up dilemma.  Partnering with other like minded investors is a great way to scale your real estate business and grow your portfolio.  My partners in Ace Capital Fund and I are joining forces with other sponsors/syndicators/operators to leverage time, knowledge and money and participate in larger deals.  We just invested as co-GPs in a 171 unit in Lincoln, Nebraska, which is a project I could not have gotten into otherwise.   I have not closed with hard money lenders, but given the narrowing margins between bank rates and hard money lenders, i believe now is good time to assess their financial products.  Please feel free to reach out if you want to expand on this.  Best wishes on your real estate journey, and God bless!

[Matthew Crivelli]

HML's can be found under the network tab within the bigger pockets website. I would also be happy to jump on a call with you to go over how HM works, the costs, general terms, ect. @David V.

[Michael Scott]

Quote from @David V.:

Hi, 

Recently been looking at alternative investments, particular rural land, subdividing. Some of these require a few hundred grand. How do I (or people in general) connect with some like minded investors, so each puts in a smaller portion? At the same time the partners might complement each other, etc.

Alternatively, how do I connect with hard money lenders? 

 Connect by going to local meetups in your area and tell everyone what you're looking to do. You can search for a local meetup here: https://www.biggerpockets.com/... If there isn't one close to you, start one yourself. I run a free group east of Pittsburgh, PA and it is a great way to meet other like-minded investors!

[Mike Klarman]

Connecting with a hard money lenders is a catch 22.  On one hand, just call.  Call the lender and if/when you get passed that automatic recording try to get a loan officer on the phone.  If the guy/girl is good at their job then they should be more than happy to chit-chat with you for ten minutes.  The catch 22 is it is hard to get somebody from these lenders to answer the phone.  You are always leaving messages and half the time not even called back.

BP is a great place to meet people in the lending business.  Lots of us post here regularly.  

[Chris Seveney]

Quote from @David V.:

Hi, 

Recently been looking at alternative investments, particular rural land, subdividing. Some of these require a few hundred grand. How do I (or people in general) connect with some like minded investors, so each puts in a smaller portion? At the same time the partners might complement each other, etc.

Alternatively, how do I connect with hard money lenders? 

 1. Hard money lenders - check out local meetings and AAPL. (American Assocaition Private Lenders). Hard money on land in rural areas will be more difficult to find.

2. In lieu of finding partners, see if the seller will seller finance you the land so you can put less $ into the deal. Give them upside as well once you subdivide the land to entice them. It will be cheaper in the long run and less risk than a hard money lender.

[Martin Herrera Jr]

Quote from @David V.:

Hi, 

Recently been looking at alternative investments, particular rural land, subdividing. Some of these require a few hundred grand. How do I (or people in general) connect with some like minded investors, so each puts in a smaller portion? At the same time the partners might complement each other, etc.

Alternatively, how do I connect with hard money lenders? 

 Hey David, you should attend local Real Estate Meetings you’ll meet lots of investors that would like to partner up in larger scaled deals.

[Julie Nealey]

Quote from @David V.:

Hi, 

Recently been looking at alternative investments, particular rural land, subdividing. Some of these require a few hundred grand. How do I (or people in general) connect with some like minded investors, so each puts in a smaller portion? At the same time the partners might complement each other, etc.

Alternatively, how do I connect with hard money lenders? 

When you say "alternative investments" are you looking to develop?

As far as meeting hard money lenders, I have always cold called, but I would say that it really is 50/50 if you actually get to speak with someone. Cold calling got me my first HML, but I have found a wonderful broker that helped me find my latest lender, he was/is excellent at what he does, honest and extremely responsive, so much worth the fee.

[David V.]

All awesome points, thanks everyone for the input!

[Val Garrow]

Hey David

Why would you need to partner with an investor to buy the land?

[Jossalyn Wallace]

Hi David! I would suggest looking on websites like Meetup and EventBrite to see if your area does any local RE meetups. I have made some great connections including lenders going to those events! 

[Eliott Elias]

Go to meet ups and let everyone know what you're looking for! Walk into brokerage offices and ask to talk to the commercial agents