I am currently in college and highly motivated in buying commercial/apartment buildings. However, since I’m in college I do not have any sort of serious or steady income and not too much money for a significant down payment.
I was wondering if people with the same financial situation as me ever form partnerships with investors, where I would locate a cashflowing property and the investor would lend me 100,000 for a downpayment. After the property is acquired, some sort of partnership agreement will divide up the income and property.
Does this happen often? If so, where can i find these sorts of investors.
If not, are there any other ways around my situation?
absolutely, the question is, do you know a deal when you seen one, and how to analyze a deal. an good investor will jump on the deal if the numbers are right. where are you located?
Yes, I know how to spot a deal. I have taken several real estate investment courses at my college as well as taken David Lindhl’s course. The issue I have is that if I find a deal I want a portion of the ownership, not just a finders fee. Is this still possible?
I am located in California, but want to find deals in other states, such as Texas.
Sure this is possible,
Let me know if you find something
you can find properties in other states, but it will be a lot harder because you are competing against investors who live in the markets. the will undoubtedly know more about that market than you. i spent time looking in a bunch of other states as well, and own a few homes in texas, but what i’ve found is that there are plenty of deals in our own backyard. there are going to be more deals than there are investors to purchase here in california by the end of the year. if i were you i would focus on your local market and find someone to fund your deals there and you take a percentage. what i have found, is that instead of getting a finders fee for the property, you get somewhere around 25% of the deal (negotiable), and dont have to put any money into it. talk to contractors or people that have crews they want to keep busy and try and partner with them.