New Investor With Access to Deals

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Hello Everyone,

First, I would like to thank Christie for a great post regarding what are deals and what are not. If you have not read it yet I urge you to do so. It was very educational from the standpoint of what to watch out for in this business. I am a Realtor and rookie RE investor in Idaho, and recently have been introduced to a continuous supply of deals from a veteran investor group. At this point my biggest challenge is finding an investor with funds and flexibility to can move quickly. These deals all have varying degrees of equity (flip, lease purchase opportunities), and are already under contract with assignment rights (little competition to those who can act quick) when they are introduced to me. My philosophy is not to hit a grand slam on each deal, but build inventory and create cash flow opportunities on volume. In other words, win-win deals for everyone involved. Institutional lending is far too restrictive and time consuming, thus my need for an investment partner(s).

Here is a description of my immediate need:
Area: Aurora, Illinois
Sales price: $125,000
After repair value: $160-175,000 (CMA's from local agents)
Repairs 90-95% completed by seller
Close: Tuesday, August 15 (one week from today)

I have been working with an institutional lender on this but am running into "chain of title issues" because it was bought as a foreclosure by the current seller recently.

If anyone is looking to fund deals for a nice return I would appreciate a heads up. I understand you probably hear from people with "limitless deals" all the time, but the deals I am being offered have already been scrutinized by the investor group who have been very willing to share their information. And of course, I do my own due diligence (so far my source has proven to be honest and accurate). They get paid by flipping the contracts for nominal assignment fees while spending very little time on the deals. Utilizing this strategy together with a huge network of bird-dogs, they are able to put together a large amount of deals in a short period of time. I know I have already lost out on some excellent opportunities because of a lack of quick funding.

Thank you for the opportunity to join this wonderful resource. I look forward to hearing from you with any ideas or suggestions you may have.

Thanks, and have a great day!