All Forum Posts by: Anson Young

For private money?  Well, typically they want to know you have a successful track record.  If you dont have one yet, you will have to sell them on your business, how its planned out and that you have contingencies in place for when things go wrong.  Its going to be an uphill battle to get private money with no experience in the business, but not impossible.  Most private lenders in that scenario would be a rich uncle or someone that believes in YOU and has known you for a long time.  Getting a cold lead from a private lender to say yes with no experience will be difficult for sure.

Dont stop, people who need to sell need it more than ever.  Many people DID stop mailing out of fear, those who kept mailing are seeing good results for sure due to circumstances and decreased competition!

What I like to do is to ask to tour a 1. past/completed project and talk to the owner/client 2. current project, how clean is it, is it on schedule, etc 3. go with him on a few bids to see how he operates.  Of course past performance is not indicative of future success, but its a pretty good metric.  I'd love to talk to as many of the past projects as possible, basically get reviews/referrals for the contractor from the people who already handed him money and expected results!  I'll also look up licensing info, insurance, and any online reviews/info I can find using the company name and the contractor's personal name.

Originally posted by @Kris Bennett:

There are people playing this game! Hilarious....

 I just saw that too, pretty funny stuff.

I'm sure the game isnt all that in depth like another poster here said, would be interesting to do one that had more financing/analysis involved

 I think the business is unique, and your site is awesome.  I think all of those methods are ideal for what you want to do, just make sure you are targeting your ideal investor (demographics, age, etc).  

"Not one round of mailers, not a few phone calls here and there, not a half-*** website, but a true commitment. "

100% agree... consistency is absolute key.  Even bad mailers sent inconsistently is better than the perfect mailer sent once...

So, you found the seller and the buyers, and the mentor wants 70%?  Seems a bit excessive, was this agreed to beforehand or just now?

Adam, sounds like most of these have not sold since being built?  Just used as rentals?  Its pretty tough to get a valuation when there are no comps, because nothing has sold!  You either have to go out a litte further, 2-3 miles to try and find comps, or try another valuation method like price per square foot average in the area to get a ballpark.

J. 

What kind of real estate investment product do you have?  Are you wholesalers?  Turnkey?  Syndication?  something else?

Networking will be huge for sure, especially if you are moving this product locally (like wholesaling), and networking virtually if you have something for a wider audience (syndication/turnkey).  This would be getting involved or starting groups on social media that have investors in them, even starting a local meetup group to be the leader of that.  Also, good ways is to push out content (video/blogs/etc) to get you and your company in front of investors.

Hope this helps!

William, this is a great question.

I know the answer... its BOTH.  Networking with awesome wholesalers AND running your own acquisitions, depending on the level you want to scale.  Dont forget to snap in networking with agents/attorneys, and asking for referrals too.

How are you acquiring deals now?