I am not certain/convinced that flipping in my current town, Clovis, NM, is a great idea being that it is possible that the market is becoming flooded with new homes and the town is very small and mostly centered around the military.
Given this, I am contemplating JV deals in Lubbock Texas, which is about an hour and a half from Clovis. I have the funds available for funding flips, but how would I go about finding a reputable investor/flipper to partner with? Thanks BP!
Keep scouring through the BP Forms, and you might stumble upon some reputable people. Also looks more like your in a position to lend those investors some capital in return for a Small Percentage maybe even some Equity Share of the profits.
Are you talking about private lending, hard money lending, or something totally different? I was thinking JV deals would be a bit easier being that I could partner with someone who knows what they're doing and allow myself to learn quite a bit while funding the deal.
From what I've read, private lending and hard money lending requires quite a bit of experience to get into.
i would start by going to the local Lubbock REIA. What are your long term goals?
Good idea, @David Torres . I'll definitely check out a meeting in Lubbock. My short term goal is to get into some smart, profitable investments. Long term, I want to replace my income with RE investments, i.e. financial independence.
Currently, finding actual deals is the hurdle I'm trying to jump past. I'm working with a realtor to try to find a flip deal, but it seems like the actual deals will come from off the MLS. I'm trying to keep my options open and I'm definitely not getting emotionally invested in any potential deals, but I am very eager to get the first deal under my belt. Just have to find one where the numbers work.
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