PDA

View Full Version : How to find Investors in other states?


Major Tom
01-26-2005, 04:20 AM
Here in Dallas I will be joining the local REI club. I will also search out Investors/Partners by other means but obviously in my regional area. What I need to know is how to I reach out in to Investors in other states? I will need to refine my REI skills here at home first but eventually I will want to reach out to other areas. Reason I am asking is pretty much everywhere I turn here I get the same response, "join your local REI Club." Well I cannot necessarily join the local GA REI Club.

Aldo
01-26-2005, 04:56 AM
First I must commend you for wanting a join an LL Ass'n. That, aside from screening applicants, is the single most important thing an owner can do to be successful. I belong to four and wouldn't hesitate to join a fifth.

I have to wonder why you'd want to expand beyond your local area. There are a lot of great investment properties in the Dallas area and I'd see no need to engage in long-distance landlording which is fraught with risks. The next risk would be partnering with people you know little or nothing about. I have never and will never own a property that I can't get to in 15 minutes. I have many collegues with whom I would entrust with my wallet, but that wallet only has twenty bucks in it. It does not contain 1/2 interest in investments worth several times the value of my own home.

Major Tom
01-26-2005, 12:08 PM
Aldo, I am not really looking to own property in other states. I would not even know where to begin to mamage that. Plus like you said, I would hardly trust someone else, other than family, with my interests. Not that I wouldn't but you had to develope one hell of a relationship first.

I am really looking to partner with someone who needs the information I may be able to obtain. If I can locate deals and get the owner on the phone yada yada yada... then pass these deals off to another investor, that is what I am looking to do. It may not be possible, and to be honest, once I get head deep in the Dallas area maybe I wont care to contact anyone outside my neighborhood. However, if I can benefit someone else with deals in other areas while making a small penny for myself then why not.