How can I find investors?
I came up with the idea to buy a storage unit building and rent out the units. I haven’t found a specific property yet but briefly spent some time looking at facilities. Larger storage unit buildings typically sell for $1M+ depending on the area. A few smaller local property investors I have been networking with told me to forget getting a commercial loan from a bank (I’m 23, my credit score is 775, and I make about $22,000 annually). Instead, they suggest I present my numbers to some investors who would have the required capital to partake in a business venture like this. One of my mentors recommended finding a property on loopnet.com and print off a PDF for the property showing cashflow. Additionally, he recommended presenting the investor with an executive summary and cover letter.
An alternative I thought of was buying a large amount of land and having a small building constructed and then sectioning it off using a smaller loan and then having more buildings added as I go.
Bigger Pockets, what is the best way to win over investors and which one of these scenarios do you recommend for someone as inexperienced as me?