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Updated over 8 years ago on . Most recent reply

What's the best way to start looking for investors?
So...I'm VERY new to asking or convincing someone to help me out financially with my dreams. My passion for a long time has been to flip houses and have rentals as my primary source of income. After trying for many years to raise a family AND save... I've only done one thing successfully...my kids are pretty cool.
We live in a neighbor in St. Louis that is in a housing boom! I have watched our house gain $100K in value in 7 years. So here's my current situation, there is a house across the street from me with a woman who will be put into a senior home soon and her house is a gold mine, it's also a wreck that needs to have major repairs or be torn down. Quarter acre lots are going for $350K, her house in good condition would easily get $325K. I have approached her son and asked if he would sell to us when the time comes to place his mom in a home and he agreed that wouldn't be a problem. I asked him to talk to his brother and come up with a price (I'm thinking I could snatch it up for $200K, maybe less, maybe slightly more) and get back to me so I can get the ball rolling. Here's where you can help!
How do I come up with the cash or ask someone to invest in me and this house's potential? I am a visionary and LOVE to network, but lacking in the whole "will you share your money with me" approach or conversation starting skills.
Thanks a BUNCH!!
Most Popular Reply

Thanks @Michael Bardelmeier! I found a group meeting in my area tonight and I'm going to try and make it!