All Forum Posts by: Joshua Pagan

Well @Brent Coombs the idea would be to create cash for future investing using a limited amount of current capital. 

I agree that over time renting the property out would net a higher income. I was looking to build capital now by playing the bank and then selling the rights to collect "rent" to an actual bank.

Or maybe I am misunderstanding you?

@Joe Villeneuve does this make sense to you?

@Joe Villeneuve thanks for the input, how would I go about making it work?

if you do not mind my asking :)

I was having trouble falling asleep last night when this business idea came to me. 

I currently have a team composed of: 1 Architect, 1 CM, and 1 other Business Partner. We are all either fresh out of college or still finishing up with fire in our eyes to hit this business running.

What I am curious about is if this would be a good business plan to build up some initial funds while also gaining some experience in the Real Estate business... Let me explain.

What if the business we started was branded as a Property Management Firm that also handles our own investments. Would that be any different from an investment group that also manages properties? or are they one in the same?

What if.. we built our client base through managing their properties and through that basis of clients we could recommend our ideas to them for future rehabs..etc. We have most of the parts to rehabbing any property because of our design/build part of the team and it would be easy for us to speak to our potential clients because we would already be working for them.

Does anyone know of any companies that already do this? and if so does it work well? Are there any giant flaws in this type of business that I may be missing? 

Looking to hear what everyone has to say!

Have a good day!

Welcome to BP! There is a lot of great stuff available at all times and even better people! 

I have been thinking about a few strategies and I was really looking to see what everyone thought about this! If this in any way is breaking any laws or seems unethical PLEASE feel free to let me know! I am always open to hear everyone's thoughts and opinions!

Here is the hypothetical scenario: 

20% Down payment on a 100k house -- 20k

3 months holding rent/ins/fees/etc ------ 3k

Misc. --------------------------------------- 5k

TOTAL EXPENSES/3 MONTHS --------- 28k

If I find someone who is willing to finance a buy from me, using a seller financing strategy, can I sell that note to the bank at 50%? That would be a 22k profit for simply pushing papers around for a few months....

It just seems too easy...

Is there something wrong with this strategy or something I may be leaving out?

Again, looking for any feed back and it is all very appreciated!

Thanks!

Sounds like an amazing strategy. I've read that book multiple times and it always has something new to teach every time!

because of you I am going to start researching wholesaling. It sounds like a great tactic for getting started! Thanks!!

@David Zheng haha thanks it's something that I have always done! 

@Bill Goodland thanks Bill, nice to see other people from the Island living in Philly

@Clayton Mobley Wow! I really appreciate the insight. I will definitely take everything into consideration! 

Thanks @Mark Nolan!