As some of you know, for the past few years, our company has been engaged in a fairly intense buying phase – purchasing single family homes with a buy & hold strategy.
Due to the current credit conditions, we are now lacking financing for the long term hold portion of the scenario. In our business, we focus on 3 major components:
At this stage, we have an abundance of 1 & 2. We need to figure out 3. Our original plan in JAX called for 3 years (we have just passed 2). When the financing dried up, we just figured we would wrap everything up into property management, find a business back north & go home early (this may very well still be the outcome). However……
We have recently been approached by a company who has the exact opposite problem. Their business model is raising money and, at this time, they have an abundance of investor money (millions) and not enough products, in which to direct them. (great problem to have, eh?)
The company tends to attract Corporate America types who are looking to invest in real estate but do not have the time, nor the know-how, to do so. As a result, the investors call upon certain, let’s call them, ‘Investment Advisors’ to assist them with their needs.
Bottom line – this group is stating that they would like to have their clients purchase product from our organization(s). To the tune of 10-20 properties per month. This may or may not actually happen (I will believe it when I see it!) but we are preparing for the possibility.
Which leads me to the following question….as opposed to relying solely on this one organization, I think it would be smart to begin networking with other organizations of this type. I am looking for ideas, as to the best way to do this. I have a few thoughts….. but am sure there are many other great ideas, of which I am not thinking!
Thank you!
Due to the current credit conditions, we are now lacking financing for the long term hold portion of the scenario. In our business, we focus on 3 major components:
- Deal Flow
- Management
- Financing
At this stage, we have an abundance of 1 & 2. We need to figure out 3. Our original plan in JAX called for 3 years (we have just passed 2). When the financing dried up, we just figured we would wrap everything up into property management, find a business back north & go home early (this may very well still be the outcome). However……
We have recently been approached by a company who has the exact opposite problem. Their business model is raising money and, at this time, they have an abundance of investor money (millions) and not enough products, in which to direct them. (great problem to have, eh?)
The company tends to attract Corporate America types who are looking to invest in real estate but do not have the time, nor the know-how, to do so. As a result, the investors call upon certain, let’s call them, ‘Investment Advisors’ to assist them with their needs.
Bottom line – this group is stating that they would like to have their clients purchase product from our organization(s). To the tune of 10-20 properties per month. This may or may not actually happen (I will believe it when I see it!) but we are preparing for the possibility.
Which leads me to the following question….as opposed to relying solely on this one organization, I think it would be smart to begin networking with other organizations of this type. I am looking for ideas, as to the best way to do this. I have a few thoughts….. but am sure there are many other great ideas, of which I am not thinking!
Thank you!
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