All Forum Posts by: Phillip Syrios

@Account Closed I don't really know how to do this... googleing their name has not helped.

@Aaron Montague Thats the right idea, but the property seems to be vacant on both sides.

I saw a duplex that had a for sale by owner sign in the front yard that fits perfectly into the type of property we like to buy. The problem is when I try to call the number on the sign I get a message saying the number is "unreachable."

I have looked up the owners on the local parcel map and am sending them a letter which in my opinion is a long shot to make contact with them, any better ideas?

I don't think it would be wise to invest your $4,000 into real estate while you are about to leave the country. It easy to lose money when you are not watching what is going on and there is a steep learning curve as well.

I'm not sure what your best options are with $4,000 but I don't think real estate would be until you had more time to devote to it.

@Katherine Conrad The REIA in KC is a GREAT place to network. I don't go very often, but my brother and partner goes all the time.

Here is a link to the REIA group in KC. http://mareinet.com/

@Katherine Conrad Welcome to BP! I have been a real estate investor in the KC metro for the last 4 years, doing all buy and hold investing and mostly in the south part of the metro.

The Kansas City Market is really hot right now and many new investors are starting to flood the market, I don't know north of the river all that well, but in general the prices are very inline with a flipping strategy. Let me know if you have any questions about the KC market or if you need and referral's for vendors or just have questions about investing in general.

If you are flipping the contract there is no need to find a loan to buy the property. You only need to do that if you are going to be the closing the deal. Whoever buys your contract should have their own way to fund the deal.

@Bill Gulley

If you think it wont be effective for some reason please let me know why.

@Jeff Rabinowitz I see this plan 100% as a means to an introduction and nothing more. My hope is that it is a way to increase my network with new people in new social circles. Do you see this as a waste of time and energy or do you think there is a possibility of creating new contacts (that may or may not lend to me) through this method?

@Brandon Hicks That sounds very close to what our business model has been but with a slight twist to it. The brilliance in my opinion is having private lenders who don't want their money back, but finding ways to recycle that money into traditional financing so you can use those private funds to start your next deal. PM me if you have any tricks you can teach me or troubles you are having with this model.

@Joe Gore I don't see that coming until much later after meeting with them more than once. If they really are interested in loaning to us then we would have some long talks about what investing in our business really entails. I am very confident in the product we offer so as long as it meets their financial goals I have no question we could make something happen. Before I have a chance to pitch them I need to know them, do you think this idea has any hope in getting me to that point, or what should I change about it?

@J Scott I have to agree with you that it seems like a great way to network, and credibility, trust and relationship are what raise private money. I don't think you could be more spot on about and Im getting more involved on BP to try and do just that, but with raising capital being the choke point in our company I am looking to find as many ways to network as possible. This idea is just one way for me to try and find new people who it makes sense to network with (wether they invest in our company or not.) Do you think it has any possibility of helping me create new networking leads?

Originally posted by @Mirinda Lowe:

Investing money with someone requires a great deal of trust and due diligence, and building your reputation, brand, and network are the keys.

This is so spot on! This plan is to just help get me to the introduction stage, not close any deals. The rest has to come from getting to know the person and their goals. Do you think there plan could work in doing that? Also I like the car idea as generating leads (much like a contractor would use!) but it seems very borderline with SEC regulations which I want to be on the correct side of at all times. Anything else you have tried/heard of that can help with an introduction and increase your personal network with the right kinds of people?

Im a buy and hold real estate investor in the Kansas Cit metro who has consistent deals and private money coming into my business. Im working on expanding my operation to grow quicker but the cog that keeps me at my current pace, like so many of us, is finding more private investors.

Networking has been the most successful way to attract more private investors so I am looking for ways to increase the speed at witch I network with people who are likely candidates to invest with me.

Here was my idea: Creating a flyer titled "Interested in Real Estate? Lunch on Me." The flyer then lists my qualifications and lets them know to contact me if they want to learn more about real estate.

My intent is not to pitch these people when I first meet them, but to just find out their goals find out what they are interested in and help educate them in any way I can. If I think I can continue to help them in the future or if I think my company can offer a mutually beneficial situation I will then offer a follow meeting.

I feel a free lunch can be a very enticing offer to many people, but I really have no idea if this will work, any thoughts on the idea would be great.

Where I am really stuck though is how and where to get these flyers out to people. Anything like this is a numbers game, but I just have no clue how to get these flyers into the hands of the people who need to see them in a high quantity.

I feel this is a good general discussion but here are few more notes that are specific to my situation and the type of partners I can eventually network with:

• We are looking primarily for debt investors usually at 9% interest only.
• Minimum amount for a deal is usually $35,000 up to $80,000. On rare occasion it could be more or less.
• An investor can do as many deals with us as they have money for typically, it can just take a bit of time to find the deals.
• We usually hold the money for 1.5-2 years then refinance with traditional lending and pay the investor back. Normally when this happens the investor then lends the money back to us for a new deal.
• We are very active in the real estate market thus finding anybody else from wholesalers to quality vendors would be beneficial to our company.

Please let me know your feedback.

a lot of the bigger pockets podcasts talk about about contract for deed. Check out number 16 with Clay Huber as well as others.

Did you close through a title company? I often have keys and pro-rated rent handled through my title company.