Both. You knew I was going to say that, didn’t you?
But I do lean more to finding investors who are looking for deals first. True, if you come up with a great deal, you can most probably find an investor who will take the deal. However, it is much easier to get to know investors in your area and find out what they are looking for before spinning your wheels looking for a deal — any deal.
This is a buyers’ market and there are deals everywhere. Investors don’t need you to bring anything that is on the MLS or is an REO property. They can find those themselves. But they may be looking for certain types of properties that may be a bit harder to find. Some investors want free and clear properties so they can try to get owner financing. Some might want rentals that have “tired landlords.” Others might want properties that are behind in payments but haven’t hit the foreclosure/courthouse listings yet.
Go to local real estate meetings in your area (to find a local meeting, go to nationalreia ). Get to know some of the players in your market. Find out what neighborhoods investors like and what they avoid. Get their cards or at least a name and number. Be friendly. Be yourself. You will meet some good people and some not so great people. But the key to getting started is to meet investors. So don’t be shy.