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Updated over 8 years ago,

User Stats

1
Posts
0
Votes
Tim Smidlein
  • Wholesaler
  • Bradenton, FL
0
Votes |
1
Posts

Looking for an alternative to property by property funding

Tim Smidlein
  • Wholesaler
  • Bradenton, FL
Posted

I'm looking to take the next step in my real estate flipping business. So far I have followed what I consider to be a pretty natural progression and I could use some advice on the next step.  I started flipping houses with partner deals with friends and family.  I would say my first 6 or 7 deals were done as partner 50/50 type deals.  My most recent 10 deals have been done using private financing from one investor I have built a personal relationship with. Up until this point I have been heavily involved  with all aspects of the business, from finding the houses, working on the houses, hiring subs, and selling the houses.  I am ready to turn this into a real business I can manage but I'm stuck on the structure my business should take.  I feel I have a good grasp on how to market to sellers, market to investors, find and manage GC's, and manage everything in my CRM but the structure has me stalled out.  I would like to get away from deal by deal financing. My initial thought was to offer a fixed interest rate on an annual payout schedule to a select handful of investors to start.  However, as I started researching this seems to be way harder than I had imagined to structure.  I've been reading about blind pool funds for the past week now and this just seems like such a complicated way to do something that seems so simple. Is there a better way to raise funding that I can use to flip properties that isn't on a property by property basis?  Any advise would be much appreciated.  If you are a professional in this area please message me.  I am more than happy to pay a professional for their expertise if we can agree on a reasonable rate.