I have been doing a great deal of thinking regarding all of the great deals here in Birmingham and Shelby County and I decided to "go for it" last evening with a buyer of mine. When I did my LLC through Legal Zoom, I received 20 Customized "partner certificates" and a "official seal" with my standard kit.
Having had several sleepless nights worrying about the financing of my first deal...I decided to offer my bet buyer a "capital partnership" in my company with 35% of the company (for 1 year) and free wholesaling services for the duration of the "loan" or "partnership" (explaining that I had to have deals for the company to make the money work...which he understood completely).
I read on LinkedIn a story about Angel and Capital Investors who typically back out of start-ups because there is never an "exit strategy" for them to get their money out of the deal. So...I offered a % per deal payback plan, a Monthly payment plan, 15% on the money for 1 year (where else is he going to find that?) and offered a Monthly report of the business transactions and full transparency for our deals. He told me point blank that he thought I had a great strategy and that he would review the BP this weekend and would let me know on Monday. He did say that he really thought that this would be a great model and that we would be doing business. I never count my Chickens before they hatch...but the money would open up a LOT of doors and having reviewed the cost of Hard Money...I am getting a great deal on the financing side of the business. Plus, I truly believe that the possibilities when I successfully complete this transaction...it will open up a whole WORLD of alternative financing and funding for me moving forward.
I was curious if anyone had any experience in seed money, Investment Capital or Angel Investors to help them start a business / start their investing strategy. If so, is there any advice you could give me related to "partnering" with someone in this (or a comparable fashion). In the past week, I have located over 20 new deals, 4 Individual Sellers, 13 REO's and 4 FSBO's. I know that the opportunity is great here in our area and I have the right deals for my business model. I am literally sinking in deals and am wanting badly to get the Rehabs under way so that I can start making money and building wealth. I wanted to present this to the DG family for advice and get opinions on this financing / partnering tactic and strategy. I want to do wholesaling very much and will be assigning / Transactional funding a few (once my offers are accepted)...but I really have the desire to get my company off the ground and will continue to push hard with the "no money down" strategies.
Any opinions / experiences out there would help greatly!
Thanks All!!!
Jon
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Jon A. Lubin
Investment Properties Group L.L.C.
Birmingham, Al.
I have been doing a great deal of thinking regarding all of the great deals here in Birmingham and Shelby County and I decided to "go for it" last evening with a buyer of mine. When I did my LLC through Legal Zoom, I received 20 Customized "partner certificates" and a "official seal" with my standard kit.
Having had several sleepless nights worrying about the financing of my first deal...I decided to offer my bet buyer a "capital partnership" in my company with 35% of the company (for 1 year) and free wholesaling services for the duration of the "loan" or "partnership" (explaining that I had to have deals for the company to make the money work...which he understood completely).
I read on LinkedIn a story about Angel and Capital Investors who typically back out of start-ups because there is never an "exit strategy" for them to get their money out of the deal. So...I offered a % per deal payback plan, a Monthly payment plan, 15% on the money for 1 year (where else is he going to find that?) and offered a Monthly report of the business transactions and full transparency for our deals. He told me point blank that he thought I had a great strategy and that he would review the BP this weekend and would let me know on Monday. He did say that he really thought that this would be a great model and that we would be doing business. I never count my Chickens before they hatch...but the money would open up a LOT of doors and having reviewed the cost of Hard Money...I am getting a great deal on the financing side of the business. Plus, I truly believe that the possibilities when I successfully complete this transaction...it will open up a whole WORLD of alternative financing and funding for me moving forward.
I was curious if anyone had any experience in seed money, Investment Capital or Angel Investors to help them start a business / start their investing strategy. If so, is there any advice you could give me related to "partnering" with someone in this (or a comparable fashion). In the past week, I have located over 20 new deals, 4 Individual Sellers, 13 REO's and 4 FSBO's. I know that the opportunity is great here in our area and I have the right deals for my business model. I am literally sinking in deals and am wanting badly to get the Rehabs under way so that I can start making money and building wealth. I wanted to present this to the DG family for advice and get opinions on this financing / partnering tactic and strategy. I want to do wholesaling very much and will be assigning / Transactional funding a few (once my offers are accepted)...but I really have the desire to get my company off the ground and will continue to push hard with the "no money down" strategies.
Any opinions / experiences out there would help greatly!
Thanks All!!!
Jon
Jon A. Lubin
Investment Properties Group L.L.C.
Birmingham, Al.
www.connectedinvestors.com/investmentpropertiesgroup
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