I have decided to use double settlement/assignment deal strategies to get me started in property trading to build up an eventual deposit on a cashflow rental property, leading to more, building up my portfolio. Does anyone know how I can find potential Investors who may be interested in being part of these deals as the buyer? There is no NZPIF association here in my city, I am currently looking for investors here to get an association started. Im going to local Real Estate agents asking them about any Investors they may know. Is there any other ways I can find Investors to fulfill my trading strategies and maybe become part of starting an association here? Thankyou for any info you can give and for your time.
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How do I find Investors for double settlement/assignment strategies.
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Thanks for reply
Hi Winston, thankyou for your reply. I appreaciate your advice and understand what you are saying. For me I am looking for a way to start, for a way to develope a track record. I have a passion for property investing so am willing to try anything and to learn. Do you have any suggestions. Thanks.
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Originally posted by Robin McCandless View PostYou could try becoming a Real Estate agent, specialising in investment properties.
That way you are licensed, so the issues around the legality of property finding will not affect you.
The REAA will see it as a hidden commission.
The Vendor will go nuts because they paid you to get them the best price possible not the second best price.
Your Agency sales manager will fire you for taking a fee/margin without their knowledge.
Oh and no professional body with give you liability insurance.
Apart from that......
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Originally posted by smiles4eva View PostI have decided to use double settlement/assignment deal strategies to get me started in property trading to build up an eventual deposit on a cashflow rental property, leading to more, building up my portfolio. Does anyone know how I can find potential Investors who may be interested in being part of these deals as the buyer?
Keep smiling, however the questions I would ask include:
1. where did you learn these strategies;
2. what added value to the buyer do you believe you can add to their investment that they can't do themselves;
3. how many properties have you bought and sold over the last 2 years.
4. is this going to be a long term business for you, or a short term profit making scheme.
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Smiles4eva. Well your question is the $64 million dollar question really isn't it?
How to find someone who will pay more for a property than you have been able to. And fairly quickly.
Well it can be done, but I think it's something that's probably more easily done in booming times when people are very keen to get a property and don't care if they're paying $20k more than they might have if they saw it first, because prices are going up anyway, the banks will lend no problem etc.
Might be a bit trickier in slower times when everyone's counting their pennies. And you say there's no PIAs in your area? So are you in a small rural area? If so, this will make it even harder.
But don't give up, keep trying. This strategy or another will work. In the meantime, continue working and saving. The extra capital will slowly mount up and be very useful in the future.Squadly dinky do!
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Originally posted by halfempty View PostThat's correct right up to the point were you try to trade a property as an agent and get sued by the REAA for taking a margin on a property transaction.
The REAA will see it as a hidden commission.
The Vendor will go nuts because they paid you to get them the best price possible not the second best price.
Your Agency sales manager will fire you for taking a fee/margin without their knowledge.
Oh and no professional body with give you liability insurance.
Apart from that......
FHLast edited by freezinhot; 05-02-2011, 12:42 AM.
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Originally posted by freezinhot View PostSo basically what your saying is become a REA. But there are other ways, but it just became more difficult and you have to be a little smarter than the rest. (sorry a lot smarter)
FH
For a newbie a lot of the personal network and sales skills, as well as market knowledge can be built as a junior REA with no risk of getting nailed for unlicensed work by the REAA.
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