I am relatively new into working in the department of selling distressed housing and am struggling to make connections. I have no issue finding houses, but I'd rather have a connection and develop a business relationship with an investor rather than have to struggle on every sale to find different people.
I feel like reaching out to people is something that doesn't work well at random anymore and I have a few people I have built relationships with and enjoy working with them, but they obviously can't buy everything I find especially with the mass volume I find every day (around 60 a month).
Does anyone have any recommendations for connecting with people and building a business relationship list with so that I can not only sell to them, but have it be reliable on both ends?
@Thomas Mulroy I'm going to make a few inferences but your statement of locating 60 investment opportunities a month leads me to believe you're focused on real estate located in low barrier inexpensive neighborhoods. Assuming that's the case you have a real estate problem that's causing your investor problem.
Buying property that falls within that category is not a sustainable investment strategy for most. It's normally the least experienced investors who gravitate towards low barrier inexpensive real estate. Many more established investors begin by purchasing those properties but learn it's not the path to building a sustainable real estate portfolio and exit and never look back. I believe that is the problem you're facing. If you want reliable investors, get involved with real estate that doesn't attract the novices.
Try going to your local REI meetings. You will meet lots of people, some of whom will be investors. Others will be contractors and lenders with whom you can connect your investor partners and yourself as well.
I'm in Charlotte, too. There are a few investor groups here that I know of. I'm not a regular member, but there's a REIA here and I assigned a deal to one of the leaders of the local chapter. It was a few years back but she said they had 100 regular members attending their monthly events at the time. Definitely check out Meet Up and see if there are any events locally.
I would say that having a community you're meeting with regularly is a gamechanger if you're doing this solo. Honestly, the REIA I attended in Fayetteville NC back when I first started felt like I was attending church. Great people, and I always felt uplifted after I left a meeting.
@Thomas Mulroy I'm going to make a few inferences but your statement of locating 60 investment opportunities a month leads me to believe you're focused on real estate located in low barrier inexpensive neighborhoods. Assuming that's the case you have a real estate problem that's causing your investor problem.
Buying property that falls within that category is not a sustainable investment strategy for most. It's normally the least experienced investors who gravitate towards low barrier inexpensive real estate. Many more established investors begin by purchasing those properties but learn it's not the path to building a sustainable real estate portfolio and exit and never look back. I believe that is the problem you're facing. If you want reliable investors, get involved with real estate that doesn't attract the novices.
Hey Thomas, have you had a chance to go to your local REIA? And to make sure I understand correctly, are you looking for investors to sell your deals too or to partner with to flip?