Hi Bigger Pockets, I am a new investor in Los Angeles. I have a multi unit under contract and have skin in the game, after that I will be short on cash flow. I would love to know what step two would be for creating cash for investing.
Hi Bigger Pockets, I am a new investor in Los Angeles. I have a multi unit under contract and have skin in the game, after that I will be short on cash flow. I would love to know what step two would be for creating cash for investing.
Not sure I understand. Why are you going to be short on cash flow after you buy this building? An investment should improve your cash flow, unless you have some other strategy for it to make money.
The usual way to create cash for investing is to save it from your earnings. The key there is to spend less than you make and save the difference.
Now perhaps you mean what's the best way to generate earnings in real estate. If you have the skills and some cash to get started, and can find the right deals, fix and flipping will generate big paydays. Rentals don't tend to generate a lot of cash flow, so you need a bunch of them to generate much income.
Thanks for the response I should rephrase. I am putting a large cash investment on a buy and hold for an apartment complex. It has taken me some time to save the money and it will generate cash flow but it will take lots of time to make enough to do a second one, I was wondering a faster way to come up with more investing cash than personal savings.
Earn more income, bring in partners, find a lender that will loan more, owner financing, subject 2 deals.
My method is earn in the buy-sell business and take a portion of the income over to buy-holds combined with a lender that will loan on ARV.
Congratulations on pending purchase!
Steve, do you mind sharing which lender you use that loans on ARV?
Brian,
Steve hit it on the head on what you should do to find more/leverage your monies more...Good luck!
Steve, I would also appreciate the lender you use that loans on ARV; if you could pm, that would be great.
I have 2 in hand that do for residential, but can always use more sources.
Please advise. Thanks
Brian
What size multi-unit? Makes a difference. But if I were you I would give it up now. Who wants to deal with a guy named Brian?
Signed Brian P