4 Way BP Deal - the power of local networking

Formula for this success story?

4 people + 2 events + 1 website = success!

The 4 people? All BP members, playing different roles in this deal. I found myself on the buyers side, buying FROM a wholesaler. The wholesalers? BP members. The transactional funding man? Another BP member. We all came together to make a win-win-win-win.

The 2 events? One was an original networking meetup where I met Ted, who is a transactional funding guy in town (and all 50 states...). I have done a few deals through Ted, and always promote him when I can. The other was the monthly BP meetup that we do here locally in Denver. 2 guys who met at this event decided to partner up. One has time and flexibility, the other has to travel alot for work. They teamed up to cover eachothers weaknesses. If that isn't an ideal partnership, I don't know what is! This is also where I met these two, who are regulars almost every month, making the most of powerful local networking!

The website? Well, Biggerpockets.com of course! I've been a member here for quite a while, and this is easily my 7th or 8th deal through members who I've met here. I asked Josh Dorkin, the founder (and fellow Denver-ite) if I could put together a local meetup after the BP Summit in 2012. He gave me his blessing, but only if I handled everything since he was too busy to make the monthly commitment. We have moved venues 3 times, but have been going strong since mid 2012.

Go, right now, and check if there are BPers meeting in your area. If they aren't, why not organize a meetup and get it started? Who knows, It could be money straight into your pocket, creating wins all around.

Quick details:

Property was an estate, she called the buyers ready to sell.... 2.5 years AFTER this BP member stopped mailing her. His follow up and excellent demeanor kept him fresh in her mind. His partner checked out the house to make sure it was still ok. They contacted me to see if I had any buyers for it. I had an offer in their hand the next day with a cashiers check for earnest money, its a good deal! When we decided to double close, they needed transactional funding, so I recommended Ted, who funded their end of the deal!

My purchase price was $88500, it needs $35000 in work and ARV is $160-165000. The seller got her asking price and a closing in 10 days, the wholesale partners got their cut, and we purchased a great property for 53% of market value!

Now, go network and make some money and friends.

Also, where does BiggerPockets.com fit into this Venn Diagram?