Getting beat out by cash offers! How do I become a cash offeror?
Hi BP community! I've been looking to purchase an STR for 4 months now but every time I find a great deal there's multiple cash offers. I'm sure many on here can relate. I'm 24 and don't have $300k in cash to put down and even if I did I would never want to tie up $300k in one property when I could buy 6 or more with leverage.
I also doubt this many people are buying properties all cash. Probably using some sort of private financing. High net worth individual maybe hard money? Are people bringing in a HNW partner that puts up the cash and then take a loan out from them? And would the investor take a certain % of cashflow from the deal? The other partner I assume would manage the property while the money partner is passive. What are some typical structures for this?