RCMA Agent Tells Me He Has $300,000 cash to invest, where do i begin?

I might sound dumb but what does RCMA stand for??

I don't think that is a dumb question at all. I was wondering the same thing.

Stands for RCMA GROUP
Investment Real Estate Sales Group
in assoc. w/ Re/Max Commercial Associates

sorry i wasn't clear.

Read your post, you said this guy answered some of your ?s and that you can find him properties but he asked you how when he wasn't able to. Have you asked him how he was going about finding these properties and why he was anadle to locate them?.

unable

Hi Brandi,
you can find properties for him. You can ask friends, family and other people who you come in contact with. You would be suprise of who know who. somebody knows someone who has an distressed property. If you start asking people who you already know; they know someone who is in distressed or struggling to keep the mortgage up and wants to get out but don't know how; due to the can't refi or their income is not high enough. Have you tried to see if someone you know; know someone who is about to lose their home or they just can't keep up due to a job loss or health issues. You can start letting people know you have investors who are looking to buy properties and start your negotiations.

Hi Brandy,
Congratulations on not giving up. You have a lead here, don't stop. You don't have to sound like an expert, you only have to come up with a result. You can just tell your investor you will find the property because you are going to work hard until you do and you are highly motivated. He's just being a smart aleck to ask you that question. Don't be intimidated. You do have a staff of experts behind you. Here's what I suggest you do: Call the Academy EVERYDAY and ask for suggestions as to what you should do next. Then DO IT. See where it leads, or where it does not lead. Come up with additional questions from that. Then when you call them the next day - you ask those questions and do what they suggest,etc, day after day.
I called A LOT while I was working toward my first deal. The folks at the Academy will not chase you down and say "Brandy, what can I do for you today?" - but when you call they will help you with information and concrete ideas. And each day you will learn something new and get some experience. When you call you will likely get a different person each time. Frankly, I liked this because each individual has their own unique approach. If you find an advisor you really like, you can always ask for them. If you can't come up with new questions because you just feel lost, then call up and say that. Here's where I am, I don't even know what to think next.
I've said before in posts that one of the best pieces of advise I ever picked up from Dean was "if you haven't found a deal yet, you just haven't turned over enough rocks! It's really true.
Now - about the foreclosures - I don't know what you mean by your investors doesn't want to be tied into someone else's loan - that only happens if you do a "subject to". When you offer on a foreclosure, you end up getting your own loan!
Whenever you are dealing with a new topic - just use Dean's book like an encyclopedia - go read the section and you'll be surprised what an "expert" you can sound like.
I hope you are creating your buyers list as well, so you don't have to rely on this one guy. BTW, you can set the assignment fee. You just have to give him the % off he want (probably 70% ARV) and you keep what's left. Again, the Success Academy will discuss all these points with you, but you have to ask.
Go get 'em girl!

Thank you to everyone that has replied to my thread. You all have been a big help. I will definitely give the success academy a call tomorrow morning to see where I go from him. As well, asking around isn't such a bad idea either. He did kind of intimidate me but I always forget to take my book and reference it like an encyclopedia. It really does come in handy. And yes, I'm creating my buyers list. Slowly but surely. I'll be sure to come back tomorrow with an update. This means a lot to me.

This is great news. I will be excited to see where it goes. Good luck and keep us informed. This is good knowledge for me to learn. Thanks for sharing and good luck.

Suzanne
on-my-way

Hi Brandi,

An investor with 300k?? That is great. When he asks you how you can find him an investment property, explain to him you work with a pool of investors and know of many homes available in the area. Try to have some things written out on paper so you can be somewhat prepared. Ask him for more detail in what he is looking for, I am sure he has something in mind, there has to be a reason he can't find what he wants on his own. Is it single family, multi family, commercial? What are his exact goals? These are some questions you should ask and get answers to. Thanks to internet today, there are millions of properties you can find on here from craigslist, realtor.com, the list goes on and on. What area is he looking to invest in?

Jeremy

Well first off, congrats on cracking into what seems to be your first possible money maker. Don't be too worried, it's natural when starting anything new to have initial bumps and learning curves along the way but don't let that stop you from breaking on through to the next level.
With that said, the mistake I see quite often is people read about others and get motivated but they fail to EDUCATE themselves first before hoping in on making deals. And what happens is, you (anyone) get something going but then it becomes obvious the person is flying by their pants so to speak and that turns the investor off because they see you're still learning which can be dangerous when making deals where every bit counts. The banks and even some agents and brokers are NOT your friends in these cases as far as telling you qhat to do next in a transaction/deal.
By re-reading deans books and studying investing in general, in a short time you can learn the lingo of the language and that way when questions or concerns come up you can still be upright and professional by answering their questions. This in turn inspires confidence in your buyer and they'll trust you even more on bigger deals.
Knowing what you're talking about and how to navigate around issues like Dean talks about in his books is KEY to making this work on a full time scale. I will admit myself, that in the past I've been "called out" on a few things and frankly it's very embarrassing to have that happen so I've made it a big big point to really learn what I'm doing before I jump into it, especially this kind of investing.

Brandi, I am the "MA" portion of the RCMAGROUP. I am happy to be getting free publicity through someone like yourself. But I want to clarify who we are and what we do. RCMAGROUP is a Commercial Real Estate Investment group, located here in Southern California, focused ONLY on Commercial Real Estate both stabilized and distressed, as well as non-performing commercial debt. In this current market climate, our primary focus is non-performing commercial notes secured by many/most commercial collateral types. Our target deal size is $5mm - $65mm. We will look at smaller notes/properties (sub $5mm) but it must make sense for us from a "management" perspective. We also provide brokerage services representing both Buyers and Sellers (Commercial Real Estate only.)

I read through many/most of the posts, and I am a little unclear as to what you are tryng to accomplish. Are you a Broker, Buyer, Investor? It sounded like you read a lot of books in hopes of becoming an investment professional, but as I read on it sounded more like you were a broker looking to create a "buyer/investor list." It was a little unclear, but if it is a "Buyer List" you are looking to generate, please feel free to add us to your distribution list. We do hard money loans as well, in the event you find a deal that requires short term/quick financing.

Last, making real estate fortunes is certainly possible, but remember there are things out there that look like a duck, walk like a duck, and may just be a duck. Simply put, if real estate fortunes were "easy," wouldn't everyone be doing it? There is a very good book a friend of mine wrote, I would suggest you read it "there is no free lunch in real estate." The book highlights the struggles to create wealth in this business, but through a lot of blood, sweat, and tears anything is possible. And he is an example of what is possible.

If you want to email me directly, I can be reached at [email protected] and our website will be up shortly, please feel free to visit that at www.rcmagroup.net (should be up in two (2) weeks or sooner.)

My best, and good luck to you,

Matt