Researching Your Business Partners - Page 2

An Example Case

Example on a property investment acquisition. I contacted an individual who had placed a classified add through an on-line newspaper under real estate finance/services for hard money lending, private money lenders. I was really just trying to get a feel for the market in that specific area of the country. I do this by contacting various types of real estate professionals such Agents, brokers, title companies/escrow, private/hard money lenders, bird dogs, wholesalers, etc. When I call I get their personal name and the company name they work for (if any). If it's a company its usually an LLC which is very common in the real estate industry or another type of corporate entity. A lot of times people talk fast or not very clear on the phone. So I always have them spell out their name and company name and have them provide me any additional contact numbers that they can provide should I need to speak with them at another time.

When the subject I'm speaking to on the phone tells me the name of the company he or she represents and it is a corporate entity such as an LLC, S-Corp, partnership, etc. I know right away I can get the corporate members names within a few minutes. I will first go to the states web site in which the individual claims to conduct business in and lookup the entity online by the name of the company.

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