How to raise fund for Real Estate project

Question

I am semi veteran investor but hold a Job outside of real estates investment. I am coming up on a great deal with a guy exiting his portfolio of 31 rental single family homes. The is an older gentlemen and can not manager it anymore. He is requesting $1,700,000.00. These properties combine can easily appraised for 3.2 Millions. These properties already generating $17500.00 Monthly. I used Hard money multiple times and currently owned 6 investment properties in Charlotte NC, 3 rehab and held. I do not want to use hard money on this deal and want to go out and raise the money. Who in this network can I talk to to guide me in the right direction.

I have high net worth, great income but not $1.7 liquid.

Jorge Ortega · Answer

Concur with Scott. Lock the deal before someone else. I believe it is a great opportunity, as you have described. If you have a business plan for possible investor with distribution profits, keep me in mind. Good luck.

Scott E. · Answer

If you are a semi veteran investor, I'm surprised you don't already have contacts who can help you with an acquisition of this caliber. It's not all that much money and if you're really able to buy at about 50% LTV, portfolio lenders will be lining up to fund this deal.

First step is get the property under contract. You don't want to start talking to other investors and lenders about the deal and next thing you know somebody goes behind your back direct to seller with a $2M offer.