Andrurs, Home Buyer in Iowa

Real Estate Investing

Asked by Andrurs, Iowa Wed Nov 3, 2010

I'm a 24 year old working professional who is looking to get into the real estate investing & flipping business. Ideally what I'm looking for is to team up with a partner who can fund the deals. In return I'm going to do all the market research, buying, fixing up, and reselling, etc...

I currently purchased my own condo a year ago. I owe $50k on the property that is valued at $83k.

Does anyone have any advice or references on who I could talk with to get into a partnership like this? Thanks!

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5
Gary Putman, , Des Moines, IA
Wed Nov 3, 2010
Hi Andrurs!
The very first thing you should do is attend a TwoRiversREIA meeting. It meets on the 2nd Saturday at 8 AM and the 4th Wednesday at 6 PM at the Re/max Opportunity Center on 128th St in Urbandale. At these meetings you will meet real estate pros,funding pros,rehab pros,wholesalers,realtors,banking reps. Keynote speakers range from funding experts to paint regulations. As you can see this is the FIRST place you should search. If you should elect to attend these meetings, introduce yourself to ME Gary Putman & I'll even pay your guest fee. Always monitor my award winning web site
0 votes
Brian McLane, Other Pro, Parkville, MD
Wed Nov 3, 2010
You can also look for "hard money" lenders.
0 votes
Jeffery Sklar, Agent, Las Vegas, NV
Wed Nov 3, 2010
Andrurs,

This is a great question with an easy answer. Most all of us have someone we know, be it family or friends, that would love to invest in real estate. The key is to position yourself as the expert in your area. Start to talk about your idea, about the realistic returns you expect, and I think you will be surprised what happens. When I was in my early 20's, I started out investing with my father and quickly moved out on my own. Another option is to get a few friends together and each put up a small amount. Whichever way you decide, just be sure to put everything in writing to make it official. People sometimes hear what they want and not what you say.
0 votes
Gene Hacker, , Lake Isabella, CA
Wed Nov 3, 2010
See if you can find a local RE investment club. That would a great place to network and find what you are looking for.

From my experience if you find a really good deal...it is easy to get the money. The hard part is finding a truly great deal which will attract investors.
0 votes
Erin Rundall, Agent, West Des Moines, IA
Wed Nov 3, 2010
If you have a business plan a good resource is http://www.25connections.com/ they specialize in putting people together to do business.
Also, Des Moines Partnership is a good resource.
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