Where do I find private investors?

[KC Dash]

I am in need of $150,000 for the purchase of a piece of raw land to finalize an apartment complex development. I have been around and around with the banks with no luck. Nobody will loan for raw land. Everything else is funded and in place with the land. I cannot afford to purchase the land outright.
Where would I look for a private investor to bring into the deal? I would pay a premium return on investment. I do not know anything about finding investors, or possibly hard money lenders? This is the only time I have had banks do this to me.

I hope this isn't against the rules. I am not soliciting. I am just posting my problem and looking for a solution.

Thank you

 

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[G_Alexander]

Try searching the forums for an answer. This question has been asked about a thousand times.

A quick answer for you is to attend some local REI club meetings in your city and/or area and meet other people just like yourself. You have a good chance of finding a money-man there just by talking to a few people.

Good luck finding what you are looking for.

-Alex

 

[CVentures1B12]

Talk talk talk...you never know who may be looking to invest!

Just the other day, I was talking to a colleague of mine about RE and mentioned that I was working on some deals...he asked what they looked like and I proceeded to give him a 50,000 ft flyover of the deals...

He then told me how he has built the contacts, has the experience and is going to start his own investment fund soon. He needs deals...

We are meeting this Monday with a lawyer to talk!

Get the word out and market yourself! You never know who you will run across who is looking for a place to put money.

Best,
Josh

 

[hatterasguy]

I found money while talking Mercedes with on the forum with a few friends...the conversation drifted to real estate and it turned out one had a lot of cash from selling a few things and was looking for a good home for it. My best business contacts have been made on a boat, over a few beers.


How big of a deal is this? Can't you roll the $150k into whatever other financing your using?

 

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[Salinger]

If the deal is good enough, you might consider using hard money to purchase the land. It may not affect your returns much at all if it's a small part of the deal and the projections are strong enough.

 

[CashFlowDepot]

Find out when your local self-directed IRA companies have their weekly mixers.

Entrust has one every week in each local area and you'll meet a lot of people with "lazy money" sitting in their account hoping to learn about an investment opportunity.

Talk to CPA's and attorney's they know who has "lazy money" too.

 

[andviv]

Find out when your local self-directed IRA companies have their weekly mixers.

Entrust has one every week in each local area and you'll meet a lot of people with "lazy money" sitting in their account hoping to learn about an investment opportunity.

Wow, are you serious? for just $20 you have a chance to network this way? Way cool. Thanks for the tip --and now it is time to find out one close to my house. Any other self-directed IRA companies you know of that have events like that?

The Entrust Group: Self-Directed Retirement Plan Services

 

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[CashFlowDepot]

You'll find the deepest pockets at the Entrust meetings and the most creative minds - at least that has been my experience. I bet you find your funding at the 1st meeting.

There are always a lot of great deals created at the Entrust networking sessions. It is well worth the time to go. They usually have free training about all aspects of investing in real estate too.

There are several other self-directed IRA companies, Equity Trust, Pensco, etc... do a search on google to find more in your area.

Let us know how it turns out

Jackie

 

[phlgirl]

We've only been to a few Entrust meetings and I have to say they were beneficial for meeting contacts with similar interests as well as investors, buyers andfinanciers . It is also a good idea to get to know the head of that particular Entrust branch. These people are basically connectors.... they have to be, in order to make money.

Diane Kennedy talked about this a while ago.

 

[mike305]

Thank you for the TIP!

I just signed up for my local Entrust workshop.

The only problem is it does not show a location for the event ... Just says Florida. I will have to call and find the location.. hope its near Miami

 

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[hofster]

The first thing that factors into this is where you look to find the right private investor. This is because there may be private investors who are going to be able to meet your company needs, however they may be very far away.

 

[Quenby]

You need to ask your friends first then you will have to go in the relevant market and consult some businessmen and explain your situation.Then you have to talk to the people so that you can find a better person to do business with.No one will give you the investment decorated in the plate. You have to struggle hard for it and earn it.