All Forum Posts by: Shannon Richardson

@Shannon Richardson if you work 2 jobs, then start talking to the other co-workers at your 2 jobs about what you are doing. Maybe eventually quit one of the jobs so you can spend some time on RE investing. Find a house to flip or wholesale if you want some "quick" cash. That could be seed money to allow you to quit one job. 

@Shannon Richardson

I agree with Mike M. You need to cut your expenses so you dont have to work at your j.o.b. so much. So move, or get roommates, your going to have to make sacrifices to get started.

@Shannon Richardson welcome to BP. 

Investor = People. 

You need to be able to put yourself in a situation where you have access to more people, wether it's a meetup, mastermind, charity event, etc. 

You work until 9pm, correct? 

Let's think outside to box here. 

9 pm in New York means it is 6 PM on the west coast. You both are getting off work at the same time. 

You could create a digital meet up. Schedule it at 10 PM EST.

You'll soon have access to more people. Now they may not directly invest in your deals, but you'll have 'people equity' which will lead to more networks and more money. 

or

Create a newsletter and tell everyone about all the deals your finding, but lacking the capital.

These are just two ideas, feel free to reach out if you'd like some more help. 

@Shannon Richardson

Raising money without a provable track record of success is difficult, at best. Most start out doing small deals utilizing bank financing. If you don’t have funds for down payment on even a small property, then your options just got very limited.

Start your own Meetup. 

You can organize the events around your own schedule.  

As @Account Closed suggested... you'll have to carve out the time, but if you can get involved in a club around an activity/cause you enjoy.  Ideally, it would be a club that tends to include high-income and/or high-net-worth folks.  

@Shannon Richardson

Welcome to BP family! I agree with @Account Closed While it's Ok to have phone conversations, nothing will replace face to face. In general in order to find investors you need to show them you have experience. Once you have the track record that speaks for itself it will be easier to attract investors (even through public forums like BP).

Hello Everyone,

I am just getting started in REI and I am comfortable with most aspects and doing them quite well, however, I am just having trouble raising money for deals. I can't seem to come across investors or get in front of them to let them know what I do.

Everyone I speak to suggest going to REIA meetings or other meetups but the problem is I work 2 jobs from 5 am to 9 pm (kind of why I started doing this, to eventually get out of the rat race) so I don't have time for them. I am trying to think of ways I can find people this way I can create meeting times around my schedule and get more face to face time in.

If anyone has any creative solutions please let me know, I am willing to try anything at this point. BTW, at the morning job, I am always online so I am not limited in that sense. 

Thank you in advance!

@Shannon Richardson both NY and NJ are tenant friendly states so there is no difference of investing in one or the other from that perspective. 

If you could househack in each state, I would suggest buying where numbers makes more sense.