Finally Found a Deal in my area w/ no money to invest. Now what?

6 Replies

Hello BiggerPockets Friends,

    After searching for a few weeks now, I have finally found a deal in the Eastern PA area, and I am looking to buy and Rent out. Where do I go to find an investor to collaborate with? Thanks ahead of time.

Kind Regards,

Terry

@Terry Moll i would suggest finding a super highly successful local investor and teaming up with them. What you will learn will be far more valuable then what you will make on the deal.

@Terry Moll Congratulations on finding a deal to invest! 
Finding the money to fund it could be just as hard as finding the deal. Since you didn't mention what kind of deal is it (buy&hold or fix&flip or something else), I can only assume it's a buy and hold. Regardless, finding money should be a task acted upon simultaneously while searching for a deal. 

In any event, your immediate network should be your first resource. So go to family and friends first. Then you can reach out to other investors in your area. The deal can be structured in a variety of ways by having a JV or having debt only or equity partners. When you find people to partner up with always consult with attorney on the legal structure.

Best of luck!

All very helpful comments, thank you for your time. I will begin to weed through the second level of resources local to the area of the deal. 

After crunching some numbers, I'd make this a rental property. What are some typical deals you can make with an investor when doing rentals as far as cash flow back for their investment?

Forgive me, I am newbie attempting to get his feet wet.

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