Hello - I was hoping to get some thoughts from folks on Bigger Pockets that have worked with a group of investors on real estate deals, specifically as it relates to the first ask or breaking the ice with investors on a deal. It would be good to get thoughts from both sides, the "lead" or General Partner opinion who has asked an investor (s) to go in on a deal as well as the investor opinion.
As far as my background goes I have done a few successful flips over the last 18 months and currently own a multi family that I was able to increase the value of significantly in a short period of time through improvements and increased rents. I am interested in getting involved in larger and more deals and possibly targeting a larger building. Go figure!
I have a handful of reliable folks that are potential investors that have specifically said over the past few months "let me know if you need an investor".
That said, I have the following questions that was hoping could spark an interesting conversation here in the forum:
1) Any tips on going in for the "ask"? What is the best approach?
2) From a timing stand point, those with experience, when do you typically go for the "ask" and secure cash from the investors? When a property is found or when you are looking? Seems like if you wait until you find something it could be too late in today's market?
3) Do you typically offer any sort of "investment prospectus" in regards to strategy, fees, track record, or targeted returns?
That's all for now, I appreciate any feedback!
I would think you want your investors lined up prior to offering.. experience helps along with putting some skin in the game
Jay Hinrichs, TurnKey-Reviews.com | Podcast Guest on Show #222
Adrian Chu, Adrian Chu & Associates | Horizon Real Estate | [email protected] | 2064075452 | WA Agent # 107768, WA Lender # MLO-920749
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