Needing advice about investor finding

Bird Dogs, Wholesaling
1

Hi everyone, hope you all had a good week in RE. Could anyone give some advice on where I can find investors. I have looked through the yellowpages.ca as well as through my local phone book. Is it better to call a bunch of realtors until I get what I need, or go to the bank and just ask for a list of RE investors?

Thanx in advance for any responses. Nervous newbie. LOL.
Jenn :smiley:

2

Jenn,

Glad to meet you.

On sunday go to the real estate wanted section of your newspaper and you will see all the I Buy Houses ads, these are investors, just call them and let them know what you do and ask them what they are looking for.

Now the fun begins in finding properties for them, no need to be nervous just talk to them like you would in carrying on a normal conversation with anyone.

John $Cash$ Locke

3

Finally someone has answered the one and only - for now- Q i needed to know. Thank you so very much. When Trump begs me for a job, I won’t forget ya. LOL LOL.

Best wishes in your endevours, again… thank you.

Jenn

4

Jenn,

Make sure you tell Donald, $Cash$ said Hi.

You will do just fine and if you have more questions just let us know.

John $Cash$ Locke

5

you could also join your local reia. they typically meet once a month and you can find one in your area under the real estate clubs link on the left hand side. it is a room filled with investors who can become your buyers.

6

*Must have at least one property to buy, sell, or trade
*Have specifics about the property
*Have control of the property (ability to negotiate terms)
*Scouts/Bird Doggers MUST have available printed leads
*Seating is limited and on a 1st come 1st served basis
*Please RSVP for guaranteed seating online (no phone calls).

These are the requirements for attending a local REIA meeting in my city. I am interested in learning the REI business by first acting as a Scout.

Where would I get the available printed leads the REIA needs for me to attend their meeting and meet potential investors/mentors?

Thank you, Mary

7

Mary:
That does not sound like a very good club to join. Sounds like they don’t want you to attend if they can’t make money from you. find a club that encourages all people who are interested in REI

Larry

8

Thanks Larry, I haven’t been able to find any other REI clubs or organizations here in Tucson. I also thought that it would be good for me to talk to people that have ads or businesses where they advertise " We Buy Ugly Houses". I should also talk to the agent that helped us buy our house and a friend that is an agent. and see what they advise. What other ways can I find people to work with as a Locator?

9

I can’t say if this approach is right for you or not, but here goes:

Run a classified ad in the “Residential Investment” section of your major metro newspaper. The ad need only say, “Handyman Special, All Cash, (000) 555-1212.” Or something to that effect…

You’ll get calls from investors who are looking for discounted property. Of course, you don’t have any inventory, so in a way, you’re currently wasting their time, which they may not appreciate. But, you do mean well, and your intention IS to find them properties eventually, so it’s not really a complete waste.

When they call, you could take the less honest route and say, “It’s gone, but what are you interested in?” I’d probably go the honest route, however, and just say, “I’m a hard-working scout (or bird-dog), and I am looking for investors. What are you interested in?”

I would think most will tell you.

I am sure some will say it’s wrong to run an ad for a property that doesn’t exist, but if know in your heart that you’re trying to find properties for these people down the road, I really don’t see an ethics issue here.

Curious to know if anyone disagrees.

10

MercuryPartners,

Glad to meet you.

Well I do disagree, if I had to start my career lying I wonder how far I would have gotten once the word got out and it will, “what about the jerk who ran a bogus ad and wound up wasting my time.”

You can try to sugarcoat it all you want, but if you do not maintain a professional attitude starting out in our great industry, then where will the lies stop?

Have to think he would be better off finding a property and then running the ad.

John $Cash$ Locke

11

this topic is kinda like what comes first, the chicken or the egg. some seasoned investors will tell you that you are not a wholesaler if you dont have buyers. but if you are just starting out where do you get buyers from and if you get buyers where do you get houses. so here is what i did. i found my house first. i shopped my house around. i let any interested buyers know why i was wholesaling the house and not buying it myself (it didnt fit into my portfolio-- area, size, whatever). then i asked my buyer if they had any houses they wanted to get rid of and guess what, some of them did. now i got more houses and finding more buyers they same way i found buyers for my first one. i shop the house. ever heard of the saying “if you build it they will come” well if the deal is sweet enough, the buyers will come.

12

I agree that the honest approach is probably best even though I don’t see much wrong in fibbin’ a bit.

I could call investors and tell them I am interested in finding properties for them in the capacity of a Scout and see what they are looking for. That seems the most logical thing to do. Especially if they have a specific type of property they are looking for.

But how to find the investors without running an ad?

13

Luvnaz: finally a birddog in AZ. I’m actually in Phoenix, but hey, Tucson is one of our better suburbs. :slight_smile:

Re lying: I’m completely with $CASH$ on this. Further: the run-an-ad-of-lies tactic has been around for ages, and many investors have heard of it. If I called an ad and was told “it’s gone, but what are you looking for?”, I can well imagine I’d smell the rat and say “honest people to work with–goodbye”. And I’d make a new entry on my Bozo List.

Re legit ways to find buyers: See the excellent post from only1minya here, or see my longer but conceptually similar version to N2that in the “Questions” thread. It’s designed to get people birddogging in less than a day.

Here’s another way you can find investors: I’m just a wholesaler, but I work with very good people, and we sometimes look for an excuse to do biz down in Pima Cty, where single family homes actually go to auction, and some of those actually revert to the lenders. (I think we can work with that.) I’ll be in touch.

14

Hi Mary,

I’m a bird dog in Tucson too. I know the REI Club you mentioned, I personally think it is a big waste of time. It’s mostly realtors showing what they have for sale. There are 2 other clubs I have heard of but have not been to their meetings yet.

I’m working with someone you may be interested in finding deals for.

IM me so we can chat.

15

Great to hear from you all. I’ll be in touch so we can get started! Thanks, Mary

16

Hi Mary…there’s a thread somewhere in this forum about using craigslist.org. You can list one in your city (or the closest city–I use Chicago and Indiana because I live in the “Illiana” area). It is totally free.

Instead of baiting someone to call you, I have to jump on the wagon and say just be honest about what you are doing. Some investors may take a pass but some will be happy to take you up on having you present customized leads or wholesale deals. And you only need a few to start with anyway.

HTH…d

17

I’ll have to look into craig’s list. I’ve been to the site to look around and saw a lot of scamming and spamming and flaming going on too though.

I have been in contact with a local REI business here. I see their ads all over Ug Buys Houses. So I went to their office and introduced myself and told them I was interesting in scouting for them. So when I get some properties that are interesting I’ll consider taking it to them.

Also a friend of a friend along with his brothers are going to start buying, fixing and selling houses here and they want me to scout and do girl friday sorts of things for them so that is a great lead. And I have met some people on this forum that I think will be really helpful to me too.

The simplest scenario I think is just a matter of calling and asking a potential investors what they are looking for and see if I can find it for them.