Take it upon yourself to do all the leg work in finding the deal then present it to your investment partner. This is a great strategy if you either don’t have enough resources or just used them all up in a previous deal. For a reasonable share of the profits, your partner may be interested in financing the down payment and closing costs of a great deal you have found and this could lead to even more in the future.
Look for an association that has meetings that offer both networking time and speaker time. You want a chance to learn from the speaker as well as time to talk to other people at the event. You also want a group that actually networks, this means that people are going around the room and talking to a lot of different people, not just breaking up into their own little cliques for the duration.
Below are some of the tips on how to effectively join an investing group. This would be moderately challenging but if followed effectively, one will get through.
Prevent yourself from entering into any transactions that is considered “self dealing”. It is a term used to describe any circumstances wherein an individual who is connected to the company makes use of his power to gain personal benefit from the investment.
Interview to build a real estate investing team – After searching on line and finding out who is buying and selling a lot of property, make a list and interview them. Find out who their support staff is. Does this buyer and seller work specifically with rehab crews? How about management companies? Closing Attorneys or Escrow Agents? You should interview 3 of each of these or more. Be brutally honest. If you can tap the wisdom of a team, the process of owning property outside your area can be easy. Make sure the management companies are willing to work with the real estate invesment contractors, the sellers of your property, and so on. Ask about the reputations of each to the others.
If you buy for cash flow and you focus on the fundamentals, the exit will take care of itself, your deal will be financible, and you’ll get your original investment back more quickly-something everyone’s concerned about these days.
While today’s low prices and low interest rates create attractive opportunities for real estate investors with capital, there’s no doubt that if you’re selling your house today you have some touch choices. You may not be in a position to sell the traditional way through your local realtor or broker.