A common request I receive from newer members is “Someone said I should find Deals but another expert said to find Funding, which do I need?”
Think in terms of a Three legged stool, if there’s a weak or missing leg (all it takes is one) that stool is out of business. It can’t even stay up by itself, nevermind support a load!
The answer’s simple, you need A. a Source of Inventory, Deals or Houses (however you refer to your Real Estate),
B. Then the Funding for Holding, Purchasing, Fixup or both Purchase and Fixup,
C. Then a source of Qualified Buyers, be they “cash-flippers” (quickest and smaller profit) or end Retail users (the most demanding and highest profit).
You need all three, usually within days.
Vetting a Contractor(who takes forever to get back to you).
Analyzing the value of a house (for the thirteenth time).
Or trying to convince a Single Family Owner Occupied buyer to get into a Four family…..
The Opportunity is usually gone…..
We can match you up with members that are where you’d like to be in 4 years, mentors. And if there’s some compatibility…
when you find a house you can’t handle? There’s probably a Finder’s Fee with your mentor!
Need a Contractor? Most at our meetings are working on another members Project where you can meet them, See the quality of their work and discuss with the owner, how the project is progressing!
When you do see that Opprortunity, you’re Contractors can handle the fixup now it’s time for Funding
Don’t get discouraged when you can not find the money. It probably means IT IS NOT A GOOD (money making) DEAL. But before you go away discouraged, Ask your potential Source WHY NOT and What would make it Fundable. Now you’ve got a SHopping List (what the Funder will Fund) and a SOurce of Funds!