I’m looking for some feedback on investment groups.
I’m a member of a group of folks that have started to talk about pooling our resources and investing in real estate. There are contractors, lenders, sales agent, insurance, inspection, and interior design folks.
Is there an advantage of a large group?
What are some pitfalls?
Examples of this working/not working
Thanks
Jerry
I think that when ever you even get a partner involved. I personaly have done real estate for 9 years and after numerous partners. I now fly solo. All you really need is a good source for the money. The deals are out there everywhere. Hire the right people for the right job and do it yourself.
there is nothing worse then sharing your payday
Sarge, I agree with REO. There are two types of parnerships.
-Those that are successful
-Those that aren’t.
Guess what, they both dont work! I have had partners that were friends and we argued over stupid things like what color the outside of the house should be and what color carpet should be installed! And guess what, I got stuck running the rehab and the sale.
Find a hard-money lender and if you purchase correctly you can get 100% financing. I would also recommend you get a private lender and see if you can get 100% financing with Fee Simple terms meaning you pay on the back end.
Put an ad in the paper:
“Tired Of The Stock Market? Make 12% Interest On Your Money Secured By
Real Estate”.
Best Regards,
Jeff Adam
Sarge,
stick w/ the investment group on the side for info/tips, contacts, social -whatever. Do your deals solo.
good luck, Ed