Updated over 6 years ago on . Most recent reply
New Investor, Needs Advice
I'm a newbie investor that just bought my first investment property out in Joshua Tree. The house is an established and successful Airbnb, so the intention is to keep it that way. Built in cash flow. So I'm stoked.
Over the past few months I've gotten acquainted with the market and am stumbling upon deals but because I have a limited budget I can't invest in all of them. I have one lead on a fairly large house on a large lot in a very desirable area near downtown Yucca Valley. The couple wants $210 for it and he owes $179. I think the house could go for at least $250 on the market. I'm thinking of trying to find an investor who might take it for $220 and keeping the $10K difference. Would this be considered wholesaling? How would I want to structure this deal so it would be kosher and legal?
I also have a lead on a 9 unit multi-plex that's been abandoned by its owner that might sell for undermarket.
Any ideas on how to turn these into deals without having to invest in them myself would be much appreciated!