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Updated over 7 years ago,
Amazing Deal - but can't find an aggressive investor... Why?
I am a licensed (3yrs) RE agent in Cincy, OH, with the goal of flipping and purchasing rentals as a means to financial freedom. I am supremely confident in my ability to find a great deal (in our MLS - they still exist), and because i have represented numerous investors and worked shoulder-to-shoulder with a couple of them during the rehab process, I am ready to run my own project. But just like most of us, I don't have the cash. I have been lucky though, in that I have a few contacts with deeper pockets.
Now the problem: I pitch the property (the numbers support my words), and have my team in place, but despite their interest, potential investors aren't moving fast enough and the properties are selling, so I miss out.
So my question to either those who have been successful obtaining private money or those private lenders who are active lenders - What piece of your pitch do you attribute to closing the deal (or agreeng to lend)? What was the thing that caused you to lend (or borrow) without (or mostly without) doubt; and move quickly?