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Updated over 7 years ago, 08/15/2017
Can't Get Momentum With Boots on the Ground OOS..Suggestions?
Hello BP Community. I'm looking for some advise/suggestions regarding building the relationships/teams with boots on the ground in OOS markets.
I'm a real estate Broker here in Southern California and investing in my own backyard is just not an option for me at this time. I still run my retail business here, but it's not the best area for buy-hold/cash flow. Just too expensive.
I am part of several referral groups on Facebook and have success making the initial contact with many other agents in various markets, but then that is where it seems to stall. The initial conversations go great, I provide my buy-hold criteria to the agents, I let them know I have $200K in capital to invest with and then NOTHING happens.
My partner and I are ready to pull the trigger and get our first few deals under our belt, but I'm not getting the deals put in front of me to analyze at this point. I'm doing my own searching online, but when I call to get more information about the property, the rental market, etc. it's dying on the vine.
I've also been given some resent referrals for local banks and hard money lenders in the markets I'm looking, so I have my financing set up, and are you ready for this, over the past week NOBODY has returned my phone calls. Yes, NOBODY!
I'm staying positive and I keep getting on the phones because I know somebody will want my business, but was hoping others here could share their experiences when they were building teams OOS.
I'm not even opposed to getting on a plane to visit the markets, set up some meetings and hunt for some properties while in town because real estate is my 100% focus.
Suggestions?