Investor · Clearwater, FL · Member since 2014 · 10 posts · 5 votes
OK so I'm a newbie and have been reading a lot but just got done reading lifeonaire and made me rethink most of what I've learned. So my question is does anybody have a plan for acquiring Cash and investing with all cash?no debt. curious to see what your thoughts are on this. Thanks!
Residential Real Estate Agent · Cookeville, TN · Member since 2013 · 1k+ posts · 948 votes
11y
There's other ways, such as doing joint ventures and equity partnerships. For example, what if you went out and found a good deal, negotiated it, got it under contract, and then flipped your contract to a buy-and-hold investor. But maybe you get an equity position instead of a wholesale fee. So, you might then own 10% of it for example. Do this 10 times and you have the equivalent of a free and clear rental with no money out of pocket (except for your marketing).
Investor/Accountant/Builder · Meno, OK · Member since 2014 · 1k+ posts · 918 votes
11y
I bought my first three rentals for cash. Then leveraged them into a bunch.
"Buy cheap houses"
As for acquiring cash:
Save forever
Or find a way to get chunks of money. The way I got cash to buy my second and third properties was that I built a custom home while in between 8-5jobs. Left one job, built and sold the house and didn't need the income to live on. So I had a "chunk" of money to get started.
Residential Real Estate Agent · Cookeville, TN · Member since 2013 · 1k+ posts · 948 votes
11y
There's other ways, such as doing joint ventures and equity partnerships. For example, what if you went out and found a good deal, negotiated it, got it under contract, and then flipped your contract to a buy-and-hold investor. But maybe you get an equity position instead of a wholesale fee. So, you might then own 10% of it for example. Do this 10 times and you have the equivalent of a free and clear rental with no money out of pocket (except for your marketing).