Portfolio lender vs conventional bank loan
What are the major differences of a traditional bank loan vs portfolio lender? Which one is better for fix and flip?
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@Michael Spindler ideally you bring him the deal and you put your own skin in the game. He might offer to put up some of his own cash in the deal but I wouldn’t count on it. You negotiate a split of some kind in exchange for his guidance and oversight of a successful project. Giving up a % of the deal is absolutely worth having an experienced person walk with you through your first deal, perhaps even the first few deals. The experience on the first few deals is far more valuable than any money made as you can leverage that experience in the future to do endless deals. However, you might be able to get a free education without risking your own capital by finding a way to bring value to an investor in exchange for being a part of the process. Find out what you can do to help him in his business and do that just so you can be close to the action and get the free education.