I'm new to the business and from what I've learned, wholesaling real estate is a great way to produce some minor income for those without capital. I'm 18 and I reside in the Inland Empire area of southern California.
What are the best ways to find and build relationships with local investors/ cash buyers?
Thank you in advance.
Jon Holdman, Flying Phoenix LLC
@Damian Santos start by looking for local members of BP and start connecting with them.
If you are active wholesaling, you should be able to develop great relationships with investors. You'll be able to determine pretty quickly who the serious ones are. Let them know that you are looking to develop a long-term relationship.
Bigger Pockets is also a great resource if you use it. Do a zip code search and reach out to investors who know what they are talking about.
Join your local real estate investors association (REIA). It's a great way to network with people in the industry.
Welcome to Bigger Pockets. while I'll leave determination of the "best" way to others, here are some ways I've found work:
attend/join as many REIAs as you can. you find buyers there in the form of flippers, rehabbers, etc.
network - search for anything RE related and go to it, you never know who you'll meet
contact real estate agents - ask them if they work with investors and take them to lunch, develop a relationship with these people. they know buyers and would be happy to help you - perhaps for a fee though, but it's a cost of business
contact loan officers: like me, we have list of people who've purchased rental properties before, and can get a list of them. also doesn't hurt to have yet another connection in the RE world.
find a few hard money lenders: these are the guys who provide short term financing to flippers and rehabbers. they know tons of active people looking to buy properties.
contact title companies: if you're going to do wholesaling, better find a friendly title company to work with. many DONT want to deal with wholesalers for one reason or another. once you develop a relationship, they can provide list of rental property owners. while these people can be your SELLERS, they could also be your BUYERS. look for people on the "farm list" who show up frequently. many times, if someone owns more than 2 or 3 properties, they own a lot more and are building up their portfolio.
those are just a few.
Apart from your local REIA, you may want to drive the neighborhoods that interest you and connect with investors there. FSBO signs and/or fixer-upper projects may indicate an investor's presence. Even if the investor is not present, there should be a way to establish contact. Best of luck!
Welcome @Damian Santos you have made a great first step in trying to increase your real estate investment knowledge. If you are looking for investors to network with im a big fan of meetup.com it gives you a free way to network with like-minded people. Also call up as many local realtors and offer to buy them lunch or coffee and you will learn a whole lot about the area. Another good thing to do is to set up your keyword alerts for the area you live and connect with other BPers who are investing in your area. Hope this helps.
Welcome to BP-this place is a wonderful start in making real estate related contacts. Honestly, I've found most of my contacts through buying properties, making offers and getting to know listing agents. In the process you meet lenders, brokers, and title company folks in the process. Secondly, if you have a chance to attend a biggerpockets meetup, I think they're great for getting cozy with some really impactful individuals from a diverse background and varying experience levels. I've met wonderful people this way. REIAs are great too if you have one in your area.
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Call every landlord having a "for rent" sign in your target market.
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