What to bring to the table when meeting an investor

What to bring to the table when meeting an investor

Rental Property Investor · Greenville, SC · Member since 2017 · 185 posts · 178 votes

I have read several books and talked to multiple small time real estate investors and have spent a long time with research and making sure I want to go down this road. After two months of playing with numbers, reading blogs on here, and listening to the podcast I took went ahead and ran my numbers to see what I could be approved for (I am 19 years old with a steady full time job at a bank) and I decided with the rent rate I would receive and after hazard insurance and taxes and every other misc. expense being covered, that I should stick to around 100,000 for my first home. I also have an appointment with an investor interested in meeting me. My question is, should I stick to a cheap home for my first deal, or should I go with an investor who knows what their doing? Make minimum, but be able to learn everything I can in the first year or so. This way I'll be able to better myself when it comes to future deals. If I do decide to go with an investor, I don't have a good idea on what grounds I should stand on, as of how much of the ROI or cash flow I would receive, say if I was living in one room, or one unit of a multifamily home and doing the property managing for him/her. Or would a typical deal be along the lines of, with a100,000 house, if he invested 20k to put down and I paid the mortgage, would we split cash flow 80/20? What would you guys do in this situation? Thanks for any feedback, always looking to learn

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  • Investor · Scottsdale, AZ · Member since 2016 · 1k+ posts · 885 votes
    9y

    How good is the investor? Have him show you 4 or 5 deals he did from start to finish. Don't waste your time with great theories. Have him show you proof and that includes the address and the HUD statements.

  • Rental Property Investor · Greenville, SC · Member since 2017 · 185 posts · 178 votes
    9y

    That gives me a good stand point on how well I can trust him. Thanks for the advice. How does one normally work with an investor on these types of deals. How is the split and who takes care of what?

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