How do you talk to an investor when making a deal.

Foreclosures, Short Sales, Tax Foreclosures
1

Aloha, When making a deal with an investor, How do you talk to them in asking how to send the money? Or How does that part work. " Remember now I’m real brand new at this. " They Know that
you of course will make some money right! And do they make out two checks, or do they do a direct deposit. How dose all this work?

Thanks
D.Dolly

2

I frankly have no idea what you’re talking about. Are you a homeowner in foreclosure? Are you an investor asking for financial backing from another investor? Is there a deal in the works?

Can you describe your situation more clearly with some details.

3

Oh, I’m sorry. Yes, I’m an investor (beginner) asking for financial backing from another investor. And Yes there is a deal in the works right now. And no I’m not a homeowner in foreclosure.

Is my questions stupid and bold? Im just wondering because, I’m beginning to think that people are believing that I’m the one in foreclosure and doing reseach to save my self.

I mean that is how new I’am to this business. And Yes I might be that kind of person that you have to draw things out on paper for. I’am a blunt and forward person. If I have questions I’am going to ask.

4

I am still a little unclear as to who those investors are (private, hard money, friend?), but:

Be straightforward. Tell the investor that you are working on putting together a deal. Tell them about specifics and what the anticipated profits are and how they are split.

As for the other questions:

  1. No one knows who you are and what you plan to do (i.e.) make money on a deal unless you tell them. So, tell them.
  2. Direct deposit? Two checks? Still unclear. If you are asking how you get the money to close the deal, then just ask your investor.

Good luck!

5

Theres a ton of educational materials available online and in the RE forums. Don’t put the cart before the horse or you’ll get trampled.
Get a basic education on how the process works. Read, read some more and ask lots of questions if your not sure.

It’s better to not know something BEFORE you jump out of the plane than halfway into your landing you find out you don’t have a rip-cord on your parachute and time is of essence. Same rules apply in this business.

Some excellent wholesale teachers are Steve Cook, Vena Cox-Jones, William Bronichek(?) to name a few. Do a Google search and read all about it first.

6

Okay Thanks alot. I did do reserch and alot of reading but i guess I just needed to know for sure on how to talk with pro-investors And this is another investor in real estate. I guess I have to just do it and make my mistakes through trials and error. Thanks again everyone for the reply. Alot for information was given.

7

What makes you think the investor is any more sophisticated than you? Think of an investor as an equal and your less likely to screw up