I’m looking for more then just a Realtor that will sell me an investment. I want to know if there are any “full service” investing companies that will; find, buy, renovate, manage and/or sell my RE investments for me.
I have a full time job and want to just sit back and watch the cashflow come into my bank account each month. ANYONE KNOW OF A COMPANY LIKE THIS??? :help
There are many. RCP Investments (with whom I have no relationship) is one. You can Google them. They find the deals, syndicate, and manage the partners – all for a fee, and sometimes with healthy returns to the investors. You can often find individuals who form partnerships/syndications at your local real estate clubs. As always, do your due diligence.
For an investor, there is often more work involved in researching these deals because you not only have to understand the deal itself, but also the capability and track record of the organizer. The benefit is that there is little work for you to do after you write your check (other than maybe worry about it).
FYI, you often have to be a Qualified Investor (Google that term too) to invest with the bigger firms.
An alternative to all of this is simply to invest in a REIT. These are listed on the stock exchanges and you can buy them simply thru your local stockbroker.
When you pay someone else to do all the work, they typically get all the profit. There are many of these turn-key investment companies out there and most of them are experts at sucking every penny of profit out of the deal.
Mike beat me to it! We have invested in several different deals from apartments to developments. We have come to the conclusion that we have to be in the drivers seat ( doing some of the work ) to get at the bulk of the money. As a spectator investor, all of the profit seems to just keep dissappearing into the hands of the controlling party. We have other businesses and wanted to have hands off investments that would just roll in the cash, but this greatly diminishes the returns.
If you have funds to lend, perhaps a viable route for you to take would be a private money lendor. There are lots of RE investors that use private money sources to fund their deals. They find the deals, renovate, flip or rent, and make the profit. What you as the private money guy gets is above average monthly interest (8 - 12%) return on your money which is secured by the real estate. While maybe not the return you’re looking for, being the bank is certainly “hands off” in terms of time and involvement.
My experience is that you either need money or do the work. And the opportunities that you can invest your money in are either low-paying or have ridiculously high promises of what they’ll pay and then they go under because it’s not sustainable.
I have heard of companies that find deals, you buy them, and they’ll put you in touch with their recommended property managers, contractors, etc. Try googling Ron Hillman.
I have used http://www.realsource.net/ for demographic info and leads. They also have reputable property managers on file in the recommended acquisition areas. And they have a mortgage dept that will try to be competitive, though I have not used them. Did my first deal through RealSource, a 28 unit property, just over $1mil. I had one of their advisors/mentors available for every question I had and he was completely on my side and really helped out. Since then I have been on the right track by myself. Good luck in your search.