Upfront Money....... - Posted by Luis

Posted by Sharon on September 19, 2003 at 15:43:50:

If you don’t have any “upfront money” to purchase investment properties, you need a plan. Here’s one idea: Put together some sort of business proposal outlining what your goals are,what type of properties you would like to purchase, what are your plans to do with the properties once purchased, and what type of interest your partners can expect to receive on their money if they loan money to you to purchase real estate.

You might want to get with a CPA, experienced real estate attorney, or contact your local Small Business Administration office to help you put together a business proposal to present to investors/partners who might be interested in giving you the “upfront money” to help you get started buying real estate.

Upfront Money… - Posted by Luis

Posted by Luis on September 17, 2003 at 16:33:17:

My problem is this…

How do I come up with the 5 percent or 10 percent needed to purchase investment property along with the mortgage. I believe I could get the mortgage, through a no doc loan, but 5 percent or 10 percent is usually required on my end which I can’t do because I don’t have a dime to my name. I live in New York but want to invest in Florida. Thank you.