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Updated over 9 years ago,
Forming group to purchase a preforeclosure comm. prop in South TX
I met an investor this evening that is looking to close out a group brought together for the purchase of a preforeclosure commercial property in McAllen, Texas. I know this gentlemen to be someone I would love to work with in the future. I want to present him value, I'm not looking for anything in return other than knowledge and relationships. How would someone recommend that I go about locating possible JV prospects for this group, as I am not familiar with this commercial space. I was lucky enough to end up sitting next to this gentleman at a seminar not related to real estate. Random luck, I don't believe in that. I think it is an opportunity. I've read many times on here that a great way to form a relationship with a mentor is to present value (or do something they don't want to do) or hopefully in this case it may be just enough to show some initiative.
The bank is asking 3.5M for the property, this is out of my league, or bigger than my pockets, you could say.
I was hoping maybe someone like @Joel Scott, or @Joe Fairless, maybe even @Ben Leybovich, or @Bill Gulley or anyone, could help with some ideas on how I could help play matchmaker in a situation like this.