$231,000 of PRIVATE MONEY Raised in the Last Year. Thanks BP.

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I just need to show some gratitude. In 2 days it will mark a year from the time that I first partnered with somebody that I met through BiggerPockets. An investor reached out to me as a response to some posts that I had made in the forums. It just so happened that at the time he reached out to me I had a deal that I was getting ready to close. He invested around $37,000 and the whole process took about three months. Our strategy with that particular property was to just flip it, however, we were contacted by someone who wanted to buy the property but was not in a position to close on it at that moment, so we decided to do the lease option on the property. The tenant who came in to do the lease option was happy that he was able to get into the property that he wanted to buy but he wasn't able to get a bank loan at that moment. The investor made his 10% APR on his money while it was invested and he got to learn our process of investing so he was happy. And my partner and I each increased about $40,000 in net worth so we were also very happy with the deal. This was one of our BRRRR deals last year where we were able to have none of our own money into the deal at the end.

Since then I have partnered with 8 other investors that I have met through BiggerPockets spread out over 10 different properties and raise $231,000 of private money among them. This made it possible for us to double our investing capacity and to increase our net worth several hundreds of thousands of dollars these last 12 months. 

So thank you BiggerPockets. You have definitely been an asset to me. I am now wealthier in both mindset and net worth because of this site.

@Wendy Schultz we have used some smaller local banks that have given us several loans last year and this year. I would encourage you to find a local bank that is able to give you more loans.

The way that we structure partnering with people is we find a property and then we partner with a newer investor, or one who wants to learn our system with investing. We then secure financing with a hard money lender and the newer investor comes in with rehab money. After the rehab, the investor gets paid out when we refinance the loan with the bank. The investor earns 10% APR on their money while it's invested and they get to know our contacts and get to learn throughout the investment experience with us.

We also partner with people who want to be passive investors. They earn 11-12% on their money when they come into 2nd position on some of our properties that are leased optioned. The amounts are usually around 10k - 40k or so with equity up above that amount.

This is how we partner with other investors and it has worked really well for us.

Congratulations @Shiloh Lundahl !  It is true.  The BP community is a great resource for people to pool together their strengths and work together on projects that make sense for the group.

Originally posted by @Henri Meli :

Great story @Shiloh Lundahl . This site is indeed a gold mine for knowledge, connections and much much more. 

 I couldn’t agree more. The connections I have made on BiggerPockets have for the most part been great. Thanks for your comment. 

Originally posted by @Shiloh Lundahl :

@Cara Lonsdale Thanks for your comment. BP does have a great community. Have you also found partners off of BiggerPockets?

 Indeed.  I have had many people interested in the AZ market reach out to me.  I have helped many of them evaluate deals, find and close deals, flip deals, and acquire for buy and hold.  I have even received listings out of it, and a few agents who were looking for a great RE company to work for in their market.  I am happy to meet those needs.  BP has been a great way to make myself available to people who need what I can give them help with.  What an awesome community.

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