Investor · Phoenix, AZ · Member since 2013 · 110 posts · 23 votes
Tenant lease is up soon. I'd like to sell this to free up cash. Good hold deal. Went through a renovation a few years ago. New Roof and AC. Needs no work at all. Please connect with me or email me at [email protected] for more info. PLEASE DO NOT DISTURB THE TENANTS!
Hello Dennis, Four months ago I visited Phoenix, Az. I was with the Armando Montelongo Real Estate Seminars. Ii loved it there, compared to the freezing snow we had here in Baltimore. Good to see you have a deal going! What I am looking for is a partner/joint venture and splitting of the profits. I am making offers on properties here in Maryland, but I thought I should hold up and seek funding. Those R/E courses was very expensive and I have next to no $$ at all. Can you suggest anything or refer me on to investors that may want to do a joint venture? Thanks
Here are my thoughts. I won't lie to you or anyone, truth is, in this business, no matter what anyone tells you, you need money to make money. Whether it's your money or someone else's is the million dollar question. I rarely use my own money for deals. I raise the "Gap" or "down payment" money and get the rest for a hard money lender. It's easier if you have your own money to use as a down payment, and yes, at times I do that as well but once you gain experience you don't need to. People will throw their money at you. BUT, Money is not the most important part. If you had money but no knowledge, you'll be even worse off. When I started I had 0 money to invest. I learned the business first, and then found a JV partner to do my first deal. We made a lot of money on that first deal and it catapulted from there on. My advice is to either raise the money and become an expert and or work as a wholesaler and save up money until you can invest for yourself. Stay away from using your credit cards as your down payment options. That is a horrible idea. Hope this helps! If you need more info, please connect with me and I'll send you my email address. Thank you and good luck!