Updated about 4 years ago on . Most recent reply
Help for a Newbie! How to find the right investors, fast?
After a few years of considering REI, I finally decided to get in. I'm finishing up a rehab in my residence and realized I want to rehab single-family/small multi-family properties in the 100-200k price range, then either flip or hold depending on the property. However, I figured the best place for me to start was to find deals. I set up some marketing and lead generation, and I fell on a lead for a million-dollar property.
When I first saw the price of the property, I honestly didn't even consider it a lead, because its way out of my personal price range. However, the owner needs to get out of the house fast, and he wanted to talk. I figured why not, it will be good practice. I analyzed the deal, came up with an offer I think would make sense as an investment and made the call. To my surprise, the call went really well, and the seller wants to speak again.
I got some help analyzing the property and came up with an offer. However, I haven't even begun to develop a buyers list, as my main goal is to find a property for my own purchase. The marketing worked a lot faster than I thought it would, and I'm feeling way out of my league. The owner is in a rough spot with the house, and I do not want to get his hopes up with a solution I cannot follow through on. However, I'm very motivated to make this work, for any parties involved.
I'm scrambling to learn how to find investors, but I figured I'd reach out to the community for advice. How might you go about proceeding if you were me?