Road to Wealth - Posted by bmeesh

Posted by Ron M on August 14, 2006 at 03:49:43:

Considering your limited funds but your unlimited desire to be successful in real estate investing, you may want to consider joint venturing with someone else who has the bucks to fund more real estate deals. I act as such a person in my market partnering with other real estate investors who bring me profitable deals. On a number of occaisions I have put up all the money, they put in all the time and we come up with a fair split of the profits based on risk and effort. If you like to negotiate owner financing arrangements, this is even better as you can use your own money to cover closing costs, etc. and when that runs out, use your joint venture partners’ funds to keep on going.

Be sure to get an air-tight joint venture partnership agreement to use with most likely your LLC, which spells out all the details of your arrangement as well as who is responsible for what. Also, as the partner who isn’t bringing in the bucks, you may want to consult with a real estate attorney to advise you on how to secure your interest in each deal “prior to doing the deal”.

Happy Investing!

Ron M (WA)

Road to Wealth - Posted by bmeesh

Posted by bmeesh on August 08, 2006 at 07:24:31:

I own my home, have a second property that is vacation/rental in Key Largo (which will be available for rentals in Nov haha)…want to keep building my portfolio, but also have cash and cash flow. Have a few bucks to invest…under 10k…I was curious what others are doing and where they are doing it. I live in Florida and it is a buyers market…I also love seller financing and creatively structuring deals…is wholesaling still a good way to go, pre construction? Love to hear some thoughts in our strange market, which will probably change in a year from now. Should I take that 10k and break it up into small downpayments for some land, which does not cash flow? Condo’s are out…too many on the market. Looking forward to your comments.