I am new to real estate investing. I have purchased to single family homes and am currently renting them out. I would like to purchase more; however, cash is tight right now. I was hoping to be able to wholesale some properties to generate cash flow to purchase more rentals. The problem I seem to have is there are not many properties that are selling in my area, and the ones that are selling don't have enough spread to wholesale. I am in rural MS
With that being said, what are my best options to continue moving forward? I know that real estate investing is not a get rich quick scheme, but I feel that I am stuck where I am. Should I look to wholesale in an area that I am not in? If so, how would I go about that? Any suggestions are greatly appreciated.
When you have no cash, but a lot of time you simply have to use investor money. If you can identify long term rentals that meet certain investment objectives that you think you can sell to an investor for a cut, then that is certainly one path.
Our company does this all the time by finding the deals, locking them up, and pairing our equity with investor equity and or debt to accomplish the deal. We come up with a split that is attractive enough to our investors so they are willing to purchase part of the equity in our deals.
This is a very simple answer, as structuring that incoming money is very important and involves a lot of legal preparation, which is too large of a topic to go into a single post. There are many threads on that topic throughout BP.
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Thanks for your suggestions. I am still curious as to what is the best way to invest in properties out of my area while I am still working full time?