Hello everyone I 'm just like most, I am interested in investing, however I don’t have the money. I have read some of the books on investing with no money down and I sure that these techniques work my problem is that I feel like I need cash on hand if If the seller won’t or don’t feel comfortable with what I have to offer. for instance there is a apartment complex that has the YIKES appeal it needs some work the owner is asking $1,250,000.00 for it. I have done some research and in what I would call a suitable living condition it is worth that much and more. I estimate it would cost around $500,000.00 to really bring these property up to standard there are 28 units 2 and 3 br w/2 ba this would be a great opportunity if I can persude the owner to let it go for about the same price. I am out of my league I know but I hate to see a good opportunity to go to waste. should I do the leg work and find a more experience investor? Can anyone tell me if hard money lending is a good Idea
wphil,
I agree, as a beginner, it is way over your head (IMO)…sell this lead to an experienced investor as a bird dog…
As for hard money, it cna be a good idea depending on the deal. It is ideal for a property that you get at a significant discount and won’t be keeping too long. Downside is they have high interest and several points upfront…
Keith