Posted by Gerald-DC on June 14, 2002 at 22:07:41:
I think the earlier poster nailed it when he said to find a deal then make your calls. I get three to four calls every couple of weeks from newbies telling me all of the wonderful things they can do, but they never have anything tangible in hand. (Just endless questions and promises). Out of twenty or so if these calls, only one guy actually came through and called me back with a possible deal.
Also, when you say the investor can just sit back and relax and write checks, just what to you mean by that?
What is your game plan in terms of investing i.e. rehabs, lease/options, rentals, wholesaling? Are you proficient enough in these areas to handle a deal on your own?
Can you convince a fat cat to put up the money based on your skill level?
I just want you to take a serious look at your plan. Friends and family may be better places to look for seed money if you are just starting out.
I would bet that most,if not all, experienced investors would not be willing to fund someone without a proven track record. Usually its the other way around with the inexperienced person bringing cash to work with the experienced person. That how I started.
Good luck Rhonda,
I wish you well.