A Family Team of Real Estate Investors Scores Big in 2012
About one year ago, we had a young, twenty-something man contact us about our rehab loans for real estate investments. I started asking him questions about his experience level and he told me that he and his parents had been doing real estate investing together. They had completed a handful of successful rehabs before the crash in 2008, and they were ready to get going again.
Several months later, the same young man contacted me again for a loan. I told him that it had been a long time since I first spoke to him, and asked him what had been going on. He told me that he and his parents have been very busy in 2012 and that they have successfully completed 10 real estate deals this year!! They have used all of their own cash on these deals, not borrowing any money. However, they now have 2 deals that came together at the same time, and they want to do both of them together. For this reason, they will use hard money loans to purchase both properties simultaneously, and thus spread out their cash over both deals.
But back to the original point. How often do you see a family that is investing together like this as a team? The father, mother, and their son. Each of them has their own role on the team, and they have worked together to successfully flip 10 properties in 2012. By the end of the year, this will nearly be one deal per month! What a success story for a family team of real estate investors. Good work!
Posted by Corey Curwick Dutton on November 8, 2012 from Private Money Utah. To learn more about our rehab loans, click here: http://privatemoneyutah.com/rehab-loan-program/