Many people remain on the sidelines for much longer than should have or are still on the sideline today because of one missing piece to their real estate equation: Money. People fail to realize that all around them are potential leads - they need not find a super high net worth individual who is willing to fund all of their deals. The average person has excess savings which they are holding on to in the back for a return that does not keep up with inflation, and all it takes to tap into those funds is building trust.
Family - Start by reaching out to your immediate and extended family by explaining to them your position and need for capital to take the next step in your investment career. These people are often the ones that most want to see you succeed and are willing to make an investment in YOU more so than the actual deal you are offering.
Friends - Your friends also have a built-in trust with you and will be easier to talk to about money than a stranger you are meeting or the first time. Speak to them on a couple different occasions about how you have been educating yourself on real estate investments and getting mentored by a seasoned professional in the business before you open up the opportunity for them to be your first investor.
Coworkers - These people can be great candidates because they know your work ethic and how you conduct yourself in business. If you make intelligent, rational decisions and consistently do what is right, they would be more open to the idea of investing with you because they already know that you have a good mindset and are likely to succeed in whatever industry to pursue.
Referrals - Even if your friends/family/coworkers are not interested in investing with you, you can still ask them for a referral to someone who might be interested. Everyone has their own network, and having a meeting setup through a mutual friend helps establish your credibility whereas setting up a meeting yourself with complete stranger will take a much longer time to establish trust and credibility.
Landlords - Existing property landlords are already experienced in the world of real estate and are much more open to the idea of real estate investing because they are already doing it. Instead of explaining to exist landlords that the deal is good and their investment will be safe, you will have to more so instill in them your professionalism as a potential guardian of their money.
IRA Companies - People who have self directed IRA’s are great contacts because they are already in the market to invest their money somewhere. These are cold leads that you will need to build trust with, but eventually they are going to place their capital somewhere and staying on their radar means you always have a chance whenever that time comes about. Contact us to find out how we can help you.