Hello all, I am looking for some cofounders to help with a pair of projects that I have.
I am asking these questions here because after being a member for a while I am not sure where else to post these types of questions. If the question are inappropriate, please me know and I will delete.
I am looking for partners to found a private equity fund that will be used to help qualified home purchasers compete in today's hyper competitive real estate market.
In a feeble attempt to make these questions meet the rules, I am looking for suggestions for the proper groups, forums or places where it would be more appropriate to ask these questions.
On the home idea.. Fundamentally the business would be a real estate investment fund and operate like one. So, in theory it could compete against those offers and make a better one. So on the one hand we have a run of the mill private equity fund purchasing homes. How does that help the perspective home buyer? The part of the business that helps the home buyer would operate much like taxpayer funded subsidized housing programs that we already have. What happens if we take one of these existing subsidized housing programs designed to help low income individuals and families purchase homes and tweak it to work with qualified home buyers? Instead of public taxpayer money, this enterprise would be privately funded and not have the same restrictions as publicly funded housing programs
Thanks @Paul. I kind of suspected that.
Chris, from reading the above my suggestion is complete an opportunity evaluation as a precursor to a more in-depth business plan. This will help you iron out more of the details because, at least as you have presented, you appear to be still very deep in idea space...and that is a difficult area to gain traction unless you happen to come on the other person who is very passionate about what you are presenting and wants needs a team member like you or wants to give at least half of his equity/time rather than pursue it himself and keep 100%
As for your home suggestion. It is a real problem you discuss. I live in Texas and real estate investors destroy neighborhoods in some regards. They come in over a low ball cash offer, gut the house, and then do a very surface renovation and jack the price of the house up by anywhere from $50-120k of what they bought it for. But I don't really follow your plan per your bio of how you are going to intercept and change this.
@Chris, always good to listen to ideas from @David M. But you're correct, the "community" area which is essentially a bulletin board, is not for connecting with cofounders or pitching ideas. It is for seeking advice with "how-to" questions. Your post may be deleted by an admin soon. They clear the board periodically of messages seeking cofounders or pitching. The intent at CFL is that you approach people directly through the "find-a-cofounder" function, which admittedly isn't very easy to use.
Your first project is software related, therefore you only need some marketing which you can do yourself. Once you have enough paying customers for your reporting tools, you can then find partners.
Your second project (idea) is not for you, unless you already have a fund.
Please stay within both your comfort zone and your financial zone :)