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Updated about 6 years ago on . Most recent reply
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Strategies to help find off-market deals? (Private lender)
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