At BlackWidowNetwork.com, members can specify the type of property they want, where they want it and how much they want to invest. The objective is to pair investors who think it's a good time to sell with those who see it as the right time to buy, and even give buyers access to credit.

"The very minute they post their unique investor profiles to the network, killer deals flood their inbox, their PDA or even their cell phone," the site boasts. Once investors find a deal, "they can quickly find funding through a private lender via Black Widow's exclusive Hard Money Hub."

Kevin Skarritt, the self-described "chief arachnid"--or managing partner--of the Laconia, NH-based venture, says he developed the site to encourage interaction between investors and simplify searching for deals.

"Once our members get into the process of building their social 'webs'," he explains. "They'll be adding other investors, hard money lenders, contractors and professionals from the online directory of investor-specific service providers. Suddenly, their networking world grows from 45 people to 350 industry experts."

Skarritt created the site with Richard Dale-Mesaros, founding board member of the Manchester, NH-based New Hampshire Real Estate Investors Assoc. While he acknowledges there are problems in the real estate market, Dale-Mesaros views them as opportunities rather than obstacles. "Investors have been waiting for this turn in the market for the past four to five years," he adds.

Now, with prices down, inventories up and many property owners eager to sell, there is an abundance of deals for everything from vacant land and small multi-family units to office, retail and industrial space, he continues.

Since its soft launch in January and official start in March, the site has generated as much buzz about its name as its purpose. The founders concede the black widow may be an unusual mascot for a real estate site. "A lot of people find it a little crazy," Skarritt notes.

However, he and Dale-Mesaros say they wanted a name that was both recognizable and memorable. Ultimately, they decided the Black Widow Network made perfect sense: the poisonous spider is a metaphor for real estate investors, a group known for striking quickly and acting aggressively to take advantage of opportunities, they say.

"The nature of the investment business is that a deal is only a deal for 24 hours," Skarritt says. "Real estate investors are very aggressive with marketing and their reaction to opportunities."

But some, like broker Joe Cline of Affinity Properties in Austin, think the analogy is a little too intense. "The rationalization is centered on being 'aggressive,' but it is thinly veiled when the site's mascot is a venomous spider." And Sean O'Toole, founder/CEO of ForclosureRadar.com, noted, "First sharks, now black widows. I suppose everyone wants to make a 'killing' in real estate, but I find these themes a real turn off. Is it just me?"

The founders of the site concede the theme has received mixed reactions from users. Some like it, they said, although the image makes others uncomfortable. The goal was just to have a name unusual enough to be memorable, Skarritt said. Dale-Mesaros said the Black Widow name only reflects the fact that investors need to be prepared to move quickly. "None of our brand effort has anything to do with taking advantage of folks in an unfortunate position," he added.

But the name doesn't seem to be an overwhelming issue, at least to the 1,400 or so the founders say have already signed up for membership. "We developed a site that answers the question 'How does an investor think?' and provides the information for them to do their jobs. That doesn't mean mountains and mountains of garbage. It means specific, targeted information about deals, such as price, taxes, after repair value and related data," Skarritt notes.