Partnering on a existing deal
Hello BP community! Is there a way to bring a partner into a deal I already own? I have heard about getting the house under contract and use OPM to buy it, but in this case I already bought the property and is cash flowing really good (enough to split it and still make sense) so my idea is to get my money out to move into the next deal and repeat. Similar to BRRRR but I don't have the equity to to cash out refi, reason why I'm willing to add a ''partner investor''.
If that is possible what is the name to the strategy ? and what are good numbers as far as COC , cap rate ect...
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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- Austin, TX
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
Why do you need a partner? It sounds like you're doing just fine
Quote from @Eliott Elias:
Why do you need a partner? It sounds like you're doing just fine
Hi Eliott! I'm doing pretty good yes but I'm just starting, this is just my 3rd investment property so I'm looking for options on how to continue growing.
Hi Alexander,
In case it can help w/ your scaling plans, you might consider unsecured funding. Funds can be used for down payment or gap funding, as well as 100% funding of a purchase.
Be happy to connect.
Best,
Dave