OfflineThere are a lot of social networking websites on the web these days. The best things is that they are free and anyone can join. I have found numerous different types of clubs over the last year that have tapped into pretty much any area of real estate, investing, and finance.
The one I recently stubbled upon was self directed IRA groups. I have joined a few and I have found that they are a great place to network and find money partners. Why? They have cash sitting in their IRA's that they are looking to invest and make a great return.
Many of these people are not well versed in the ins and outs of real estate investing or have not interest in the ins and outs and just want to make a great return.
Here is the opportunity for a savvy investor to jump in and start working with these people. You can look for these groups on such websites as facebook.com, meetup.com, activerain.com, linkedin.com, and myspace.com. You might look for these groups on yahoo and google in the self direct IRA group sections. You might even look up local self directed IRA administrators and network with them, so they see the value in your services and refer clients to you.
I have even gone to many of the local self directed IRA trainings, conferences and seminars in various areas, so I can network with these people.
You can never network enough!!!
Happy Hunting!!!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Thanks for letting us know...this is brilliant!
Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3
First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10
There are PLENTY of deals in my own hometown- It just takes matching up the "money people" with the "worker people!"
"Be very careful, then, how you live- not as unwise, but as wise, making the most out of every opportunity..." Apostle Paul writing to the church in Ephesus
Glad the information helped you both. We provide more services in real estate than we often realize, so we need to promote and sell those services to those with the money to pay us for them!!!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Derling,
I am intersted in how this works. I will be trying to build a buyers list out of my own family over christmas break and want to be able to give a clear "how to" to them if they are interested. I understand they have to open an account with a firm, and that it takes a while for the funds to roll over. Once that is done how do I the bearer of their funds close on a deal using their money? Do I have to open an escrow account and give them the account number so that they deposit it into the account. Then allowing me to purchase the real property? Does a lawyer have to come up with the terms concerning the investment on paper? I am aware that the profit for their investment can be a percentage or fixed amount, if percentage can we set the rate or is there a set rate for the industry? If fixed what if the total profits arn't enough to fund back the IRA plus the fixed amount. Could myself or their IRA be found in fraud? Alot of questions trying to find out. I really REALLY want to pursue this venue of financing my deals, and plus I see it as very lucrative for those who would be willing to invest their money.
Proudly serving God, You, and Country,
Edwin Epperson
"The greatest mistake you can make in life is to be continually fearing you will make one."
-Elbert Hubbard
I am new to the idea too...trying to learn as much as I can about self direct IRA. This site might have some useful info.
http://www.selfdirectedira.org
Good luck.
YOu have a lot of great questions. this website http://www.theentrustgroup.com/ is a great one for eucation and the faciliation of these types of transactions. There are a lot of different ways these types of deals can be set up and executed. There are also very strict guidelines to follow too. Entrust is one of the industry leaders from a self direct ira and real estate investing standpoint.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
sI0130 & derling,
Thankyou for the advice and I have done my research. The ENTrust Group http://www.theentrustgroup.com/ has by far the best products available, and to me the most attractive aspect is the fact that they have over 30 offices nationwide with actual people whom you can go meet. I have talked with Mike Todd in the Nashville TN area. I am currently away from my home traveling and visiting family. I won't be home until the 15th of January but I am already setting things in place to hit the ground running. I personally believe that S.D. IRA's are a seldom touched topic here on DG, and have extreme potential in finding private money lenders. I will post on this site and probably on my jouranal how well my efforts in finding these "buyers" through this venue goes once I am back in TN. Look forward to offering great encouragement and new ways to invest. Hey I might even be invited to speak at Deans next confrence on my success in building a buyers list this way!! No hurttin in dreamin big!!
Proudly serving God, You, and Country,
Edwin Epperson
"The greatest mistake you can make in life is to be continually fearing you will make one."
-Elbert Hubbard