What if find the deal and bring it to you?

Question

What if I find the deal and bring it to you?(sorry about not putting the "I")

Good Afternoon Everybody,

So starting this week I will be making phone calls to homes in Pre Foreclosure status. Ive been taking a look at all of my different funding options, but doubt has been definitely on my mind! If a "subject to, Wrap, Lease option, etc." do not work how likely is it that I will be able to bring my deal to an investor that can provide funding on this website ? I am a first time home buyer looking for something to prove. I believe if I can find a deal and put it in front of an experienced investor, this might be good way to find a partner. Has anybody ever had any success here on bigger pockets finding a partner or someone that is interested in funding a deal ? This might be ridiculous question but would definitely love some input on the doubt that's been on my mind. I fear being able to find a deal and falling out on someone who is willing to sell their home. But thank you everybody for taking the time out and reading my post!

Ned Carey · Answer

@Gabriel D. Zapata

Urgency to push forward is great

Urgency to do a deal is bad. You don't want to be a motivated buyer. That can lead to bad deals.

Caleb Heimsoth · Answer

@Gabriel D. Zapata. Finding funding is going to be mostly made in relationships and adding value to people’s lives.

I got a random message from a BP member about 4 months ago.  He and I are now business partners.  That only happened because we both saw value in what we can each provide each other.

Steve Vaughan · Answer

I was stuck in 'the stumps' back in the day, too.  Thank you for your service!

Like most things, the 80/20 rule applies to BP.  80% (or more) members are newer like you.  20%, or less even, will be able to do what is needed to fund or complete your deal with you.

But it can certainly be done. Reflecting back, I have engaged with and done a lot with BP members in my small area. They are local. We met on BP or through a little meetup we used to have.  We've helped each other and hung out together. We've shared contacts and info because we like each other.  Just yesterday I was reviewing a potential deal with a local 'colleague'.  Last week I was offering  16 units I've held a long time to another.  But it takes time to build these relationships.

Contribute on the forums where you can.  Others will see you and reach out to you. Your post and vote count are like your street cred on here.  Help others and others will help you and reach out.

Stephanie Medellin · Answer

@Gabriel D. Zapata  You mentioned you're a first time home buyer - are you trying to buy a home for yourself to live in, or your first rental property?  If you're looking for investments and focused primarily on pre-foreclosures, be careful of the laws in California.  If you're targeting people who are about to lose their primary residence and you don't intend to buy the home for yourself (to live in) you need to provide certain disclosures to the seller.  Look up: Notice of Default Purchase Agreement.

Scott D Burrows · Answer

I would second @Keith Radke and @Ned Carey opinion on this matter.

Definitely makes sense to go to a local meetup with deals and see what the response is. More than likely, those people are in the "trenches" every day and are VERY in tune with the local market and will know if it is truly a good deal or not.

Regarding strategy, I would assume the most important part is getting to the owner before others do, and also finding out how you can help them by listening first and not just throwing out the first number that makes sense.

Also, @Chris Mason lives in Cali and I'm sure can let you know if you have good deals, if you throw some to his DM.

Good Luck,

Scott

Keith Radke · Answer

@Gabriel D. Zapata. Join your local real estate investor association and go to the meetings. If you have a truly good deal and bring it there someone will want to invest in it.

Ned Carey · Answer

People make connectios and deals here all the time.  Usually the way it happens is due to our participation and connections here people get an idea of your experiennce and trustworthyness. SImply putting an ad in the marketplace for a partner or lender is not likely to be effective without some connections built first.

Daniel Iniguez · Answer

@Gabriel D. Zapata I'm just starting out as well and also live in 29. I attended the Coachella Valley Real Estate Investors Association for the first time on Jan 8th. From that meeting I can tell you that if you find a good deal there are plenty of people willing to buy it. The next meeting will be February 12th. I suggest you go and see for yourself. Perhaps we could meet for a cup of coffee.

Gabriel D. Zapata · Answer

@Stephanie Irto wow that’s some great advice I really appreciate it. I plan to invest in that property by fixing the property up and using it as a rental.

@Steve Vaughan thank you sir for your service as well. The stumps is definitely a challenging place to network with people other then your own! But ill start interacting on the forums a lot more and see if I can maybe get a meetup started out here, I believe it would be totally beneficial to the community.

@Caleb Heimsoth yes Caleb i agree. I think I just have to put my name out there a little bit more to have some street crew and get noticed in this business. I really appreciate it the advice because stories like you an your partner is what I believe helps the next person create relationships and partnerships.

Gabriel D. Zapata · Answer

@Ned Carey Thanks Ned! I’ll be sure to keep that in mind. I know it’s a little bit harder starting out but I’ve been on this path for almost two years now and finally have the urgency to push forward !

What if find the deal and bring it to you?

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