Finding Private Money Investors
I've read somewhere, perhaps on this site, that the way to find private money investors is to ask people you have contact with, such as lawyers, who have monies sitting in low-interest bank accounts and such. The problem is I'm new to my area and don't know anyone like that. Should I advertise in the paper, and if so, can someone give me a sample of an effective ad? Or are there other ways to find private investors?
Also, I wanted to take the time to say that this site has been a godsend to me and definitely worth a paid subscription. I just love how helpful people are to each other, and the advice is the best around!
newcretion,
Your first sentence of your post states that you should ask people you have contact with.
By using this site you have private investors from all over the country that are anxious to invest in good deals. I have made some good contacts with investors in my neck of the woods and look at deals with them from time to time.
If you have the deal, the investors will come. Get some deals under your control and the investors on this site from Oklahoma will be glad to talk to you, I'm pretty sure. Good Luck.
Dave
[addsig]
Newcreation,
Welcome to the forum.
You need to be careful not to advertise for investors/partners (it violates SEC regulations) but it is okay to advertise for hard money lenders, but you should not need to.
Check out your local paper for "money to loan" as well as your local REI club probably has people who are looking to invest money into other preople's properties or who might be willing to partner with you.
hth,
Robert
[addsig]
I guess I have a lot to learn about real estate law. I've read a little bit about that on this site, but the whole thing just confuses me. I do know when my local REIA club meets, so I will just check there.
I do have a property, maybe even more than one, that I would like to own. I'm just afraid to take the risks. But, at the same time, I'm determined to do this. The only thing stopping me, other than my own nervousness, is funding. I had hoped to have it all in place before moving forward. But I see what you're saying, dealfinder, about getting the property first, then the investors will come.
Candace
Hi Robertt,
Is there a good source for "easy to understand" info on SEC regulations. It sounds like you cannot advertise for investors at all? If I have friends, aquaintances that want to loan me money against Real Estate at a certain agreed upon interest rate, 10-15%, for a certain agreed upon term, are there regulations against me writing up a secured or unsecured note for this amount? just want to get a handle on this...