OfflineHello everyone.
I recently have come across a great oportunity. I can buy foreclosures, short sales and such for 30 cents on the dollar. There is only one problem. I have no cash. These have to be purchased cash only, nothing conventional. There is everything in place, ie the realtor who will backdoor the properties, the crew, virtually everything. All I need is a partner who has about 100K to invest to start this thing.
Any takers? Please say yes.
YURI
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Yuri I would love to say yes to that, however I am in the same boat as you. Willing and eager starving realtors that need to make money and are very willing to work with me..however I have come short with the $$$$ part of it. These deals that are happening now are just awesome, but it feels like I can't get myself any of the foreclosure pie
Destrie
Destrie
Failure Is Not An Option
Where are you located? What state?
The deals are in New Jersey
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
Seems like the REO/Foreclosures need all cash to close on. They want to see the funds in a bank acct. somewhere. I'm asking a few people I know about doing a promissary note. Maybe even pertner up with the fact I bring the deals and they bring the cash and put in place a 50/50 split on the profits. Just a couple ways I'm looking at the market.Crazy things are going on. We have to keep educated to stay ahead of the curve. That is why I joined this site and I'm on it daily!
Hey, if anyone else has other ways they ar trying or have had success with I would love to read about it!
As always best of luck to all. Have an awesome day!
Earl in MI
Earl in MI
DG
2%ER
RBBP
Lifetime Member
You should check out this topic discussion "How To Be A Bird-Dogger and GET PAID FOR IT!" Anita takes you step by step, and you cna do that in any state.
Have you checked into transaction loans from outfits like coastal-funding.com?They will provide you with proof of funds. You need to provide an end buyer. They charge you points plus a transaction fee. They set you up for a double closing. So build a buyers list and make some$$$$$$$$$. Shoot me a message if you have any questions. Success be with you. Keith
I know that may sound funny to some, but I live in North Carolina and I have been talking to my sister about this.She was going for her Real Estate license at one point and she still has her books, which she let me borrow..Let me quote from it-"Chapter 93A of the General Statutes of North Carolina:-93A-1 states-it shall be unlawfulfor any person,partnership, corp.,LLC,assoc., or any other business entity in this state to act as a R.E. broker or salesperson with out first obtaining a license"...There is alot more to the article, but I'm trying to keep it brief..This is what has been holding me back..I really want to do this, infact, I have to.I am 6 months on unemployment, and my wife may be facing the same at her Job...I was hoping that someone on here could shed some light on this legality thing (maybe I am reading into it wrong),also,I was wondering if there is someone out there who is in the Johnston County, NC area who is doing this.I would love to hear from you...
HELP PLEASE
Coastal Funding is the soft money. New rules in NJ need you to show the money in your own account (ie HARD MONEY)
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
The whole deal with these is that I AM THE ONE BUYING IT. He doesn't want me to bird-dog because he has other takers.
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
Which state are you in?
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
Me too... I'm looking at some apartments, the rental income I've seen is $14k to $81k a month. My thing with rental income and a partner is do I want to pay a partner 2 to 5 yrs. Or just go solo. But I'm still looking and planning on doing something with or without a partner.
Make $14k a month & $168k a yr isn't bad Even $81k a month & $972k a yr isn't bad either. A partner wouldn't mind sharing that.