i need tips on how to find some investors
Hi,
Leave out your front door and head for your car, drive out of your neighborhood, turn right see that 7/11 on the corner, the building is owned by an investor, now look across the street at the gas station, that property is owned by an investor.
Now look over at the next corner, the McDonalds on the far corner, the building is someone’s investment whether it is the franchise owner or an outside investor, now look at the last corner, that strip center with the grocery store, the subway shop, the hair salon and the insurance agent, it is owned by an investor.
Now drive up the street, see the movie theatre, the bowling alley, the ice rink and the car dealership, those are all owned by investors.
See the hotel, the apartment building’s and the office building, they are all owned by investors!
Now you see investors all around you, all you have to do is find out who owns the property and you have a list of local investors!
GR
I haven’t done any deals yet, so I can’t say for sure if my buyer’s list is solid or not, but here are some of the things I’ve done to find local investor’s so far. I am planning on wholesaling, so my target type of investor may be a bit different than what you are looking for.
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Get on craigslist and search the real estate section for ‘We Buy Houses’. I skip over them if they end up being national, and make note of local investors.
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Same thing with bandit signs. I write down the phone number of every ‘We Buy Houses’ sign I see.
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Start working with an investor friendly realtor. My realtor always has at least several cash buyers looking for investment properties.
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Go to a local rental agency that landlords use to advertise rentals. I paid $60 for a one year subscription to their service, and now I have contact info for every landlord that advertises with them. These are investors who already own properties, and I can tell what area of town they like their rentals.
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Talk to people you already know. Most people know someone who knows someone who rehabs, rents property, etc.
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Local REI clubs.
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Our local REI club is inactive, but I’ve found several local real estate investment pages on Facebook with seemingly active investors. When I bite the bullet and make my first purchase, I’ll definately be putting the word out on those groups pages.
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Attend local foreclosure auctions and tax sales, get there early and network.
Hope this helps.
Find a smokin hot deal, post it on craiglist, and you will be swamped with calls from every major player in your area. I did this with a boarded up house I found while “driving for dollars”. I staked the place out until someone showed up to do yard work (most of the time you can find them through tax records). Sure enough the owner wanted to sell, but he was unrealistic on price. That didn’t matter though because when I placed ads I got a lot of calls from investors with a ton of cash,
To find good deals as “investor bait” you can also send letters to people who have defaulted on their mortgage and offer to purchase their property because investors are buying short sales like crazy - or just target a particular neighborhood to find someone with equity. Do the mailers yourself and use the USPS bulk mailing service(google it) in your city to keep the cost low. Sending 3000 letters will cost just over $700 That includes material and ink. (6000 sheets of paper will cost $30, and 500 envelopes costs $10, toner is about $100).
-Joe
You can also use public records to find cash purchases in certain areas and price ranges and contact them.
You need not worry because there are so many investors around you. You can even find them just around your neighborhood. You can also search in the internet and look for tax lien states which offer good investments for a real estate business.