Here’s the deal–I’ve partnered with a dear friend who was been studying the ins and outs of real estate investing for years. For reasons I’d rather not go into in a public post, she needs me to be Vice President In Charge Of Actually Talking To The Nice People.
I’m playing run-to-catch-up in terms of how to go about all this, so please bear with me if some of the questions I ask seem painfully obvious. I’ve been playing phone tag with my business partner (herinafter ‘BP’) for several weeks now, and decided that waiting for the clouds to clear so I can ask BP may take too long, so I’m going to ask you fine people instead.
BP has her eye on some properties that she wants to wholesale. She is intimately familiar with the neighborhood and its potential. Most of the properties are in need of work and the neighborhood is up and coming but not quite there yet. She needs me to draw up the offers for her, and I’m fine with that, but I’m still a bit hazy on who in heck we’re going to SELL these things to. We don’t yet have the money to do any rehab or buy-and-hold, so we need people we can flip these things to who DO have the resources to do that.
So, where does one start in terms of hooking up with potential investors to flip places to? BP says she has some people she’s in contact with and I’m dipping my toes into joining her on networking expeditions at our local REIA, but I’d feel a little less anxious about the whole thing if I was able to assemble a larger list to work from. Where’s the best place to start?
Welcome…this is a common concern and question when starting out. You can search the forum, but here’s a good link to previous posts:
http://www.reiclub.com/forums/index.php/topic,32259.html
Chris
There are two sides to the wholesale equation. The property side, and the invetors side. The good news is that the investors side is by far the easier to assemble. Remember, real investors want to be found. Here are just a few great places to find them.
1 Newspapers— Advertising that they are looking for properties and also advertising their current properties that they are selling. Make sure to call on the ones that are selling, becasue they may also be in the market to buy more.
2 Real Estate Investor Clubs— Great place to find investors, especially during the networking sessions.
3 Bandit Signs— These are the signs you tend to see on Hwy. exits and around neighborhoods. They tend to say things like “cash for your houses” , “quick closing”, “avoid foreclosure”, “any condition”.
4 Driving the neighborhoods— This may take the most time, but it will get you the best investors. Look for rehabs that are already happening and call on those investors.
These few techniques if done consistently will get you a very large number of investors.
Placing a “handyman special” ad on craigslist is a no cost way to find investors.
Thank you all so much! I’m feeling a tiny bit more confident now. I’m sure I’ll be back with more dumb questions as things progress. 
I wrote this post a while ago you may want to check it out.
http://www.reiclub.com/forums/index.php/topic,22874.0.html
Spend one day and call every “we buy houses” ad on the web, and in the paper. I’m new to this, but I built up a buyers list with what neighborhoods they prefer, how fast they can close, how many properties they rehab each month, and what % of profits they’re looking to make off each rehab. Now I’m going through those neighborhoods.
I have found the Real Estate Articles section under Investor Information to be a helpful resource as they are a plethora of information. I am new and have been working through them and cannot believe what I’ve learned in just a few weeks.
Good Luck