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Updated about 6 years ago on . Most recent reply

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7
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2
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Aaron Lesher
  • Washington, D.C.
2
Votes |
7
Posts

Strategies to help find off-market deals? (Private lender)

Aaron Lesher
  • Washington, D.C.
Posted

Hi all,

First post. Apologies in advance for any BP forum faux pas I may inadvertently commit.

I am new to real estate investing and my goal is to invest in my first property in 2019. To that aim I networked with a local, private lender who told me he would help fund/partner with me for my first deal.

To start, I obviously need to come to the table with a target property and financial analysis showing that the deal makes sense.  Since the lender is most experienced with flips, that's what I would be presenting (single-family). However, I don't have any idea where to start. My two main problems seem to be:

-Finding an off-market property to maximize value + potential margin

-Providing a realistic projection of renovation and financing expenses

I'm confident that I can tie the remaining loose ends together to deliver a compelling proposal, but obviously I need to present real numbers/properties so the lender can evaluate whether they want to move forward with me.

What resources would you guys suggest (books, articles, BP posts/products) to help educate myself before taking action?

Thank you!

Aaron

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