Updated almost 9 years ago on . Most recent reply
Young, Talented, and In Need of Help!!
What is up everyone! So I will give you my current situation before I go into the problem.
Currently: I have been actively selling real estate (realtor) for a little over 1 year. I do not have an average of 2 years income for tax purposes because of this and was going to school before I got into RE. I do have money saved up (projected about 40k gross income this year), and have access to private money for lending purposes if that is needed.
I have evaluated and found deals (rentals) that are worth writing on, but because I can't take out a mortgage I am stuck on what to do! I am only 20 so that is why I don't have the taxable income yet, but if anyone can give suggestions/ideas it would be greatly appreciated!
Most Popular Reply
@Carter Crowley you will need a partner (or more). You are an agent, so you can manage these properties even when you do not own them. Find people who are interested in passive income and they can either become equity partners or lenders. Get involved in groups nearby and network / market! If you are looking at long term holding, then make sure you understand your numbers like a CHAMP. It is very hard to find an agent that actually gets investing, so you have a couple of bonuses and can become a mainstay for investors to go through. That builds your influence and your money. Those same investors may become your money or credit partners as well.