BiggerPockets

I have been reading this Forum the past few weeks and really need some advice. Because of my honesty and trustworthiness in the last 7 years in business, I have family and friends who have money that want to partner or invest with me. And I am not talking just a few thousand dollars. I could get at least $50-$150K if needed as long as I can show them how I will profit using that money. Just an example last month, I borrow $35k from my friends no questions ask as long as I paid her back in 6 months.

Here is my dilema: I want to make money in this real estate market NOW! I have cousin realtor and best friend in mortgage lending but my credit is crap plus I already have 3 rentals (all under water btw). I read about shortsale, wholesale, tax liens etc. Infact the reason I found this EXCELLENT website was doing a search on DC Fawcett. I was turn off a bit when found out that he will only work with student who paid $5000 for his program. I don't mind spending that much if I know he can surely deliver! I am a businessman and know I must invest in order to make $. I then found out about other gurus: Than Merril, IFLIP, Loik, the tax guys and more. So now, I am a bit confuse as to which route to go about starting this business. I think I like the shortsale but DO NOT like the negotiating aspect cause I don't want to go thru trial and error when others are raking in the $$$ as I type this. So I need to get off running immediately. Can you guide me? Should I attend one of the gurus bootcamp? If so, which one? I thought of partnering with friends and family to buy cash property, fix it up and sell it. But in my market, Seattle Washington, you can't find homes under $200K and the cost of fix up plus take time to sell. On top of that I know my family and friends do not qualified for conventional financing either. Like me their credit is shot or have mutliple properties too. I need to make $ and make it soon but how?

Infact, if there is an investor or good shortsale/wholesaler in my area who can teach me the rope I don't mind to split using my money (actually my family & friends) on our 1st deal. But I want to make $$$ and lots of it. I am tired of hearing people make money in this market and I don't.

Thanks for reading and await any advice. This is one of the best forum on the net so keep up the good work everyone!!!!!

I tend to agree with Brian, that wholesaling is probably your best route to go, just getting in the door with real estate investing. Courses by guru's some may be worthwhile but you can gain the same knowledge by doing what you are doing, staying connected on BP, and finding a mentor ( possibly even on BP ) to guide you through your first deal or two. Wishing you much success...

Tyler,

Who would mentor you depends on what avenue you want to pursue. There are people here who are very good at different things. My advice would be to check out the different forums and see who gives the best advice. You could then approach that person about mentoring you via PM. Hope that helps.

I tend to look at all real estate investments as simply vehicles for cash flow. That being said, if you want to get ROI you could look at simply investing in notes backed by real estate. I will not go into all the particulars, but you can google the info. Basically you can learn to buy notes that people have already done all the heavy lifting from and you can crush the market in terms of ROI%. If you are looking for quick money then I would caution you that quick money can lead to quick loses, as many have found out. Take your time and make the right deals in anything you choose.