building the real estate empire

[Mahonri Bussey]

As a new investor I am faced with the fact that I dont have a lot of money to start putting down payments but I know this is easily fixed with a good partnership. I am willing to carry the loan and care for the property and in return I'll make sure the investor is given a proper ROI but I also see an issue with maxing out the amount of mortgages I can have at one time. How are people getting around these issues? I know there is seller financing but it doesnt seem to work too well in my area of Utah county and salt lake county but it would be something I am willing to do if the numbers work out. Do people have other suggestions of getting more properties? Thank you ahead of time.

[Jeff Rappaport]

@Mahonri Bussey your dilemma is what most new investors face.  Where does the money come from?  Rather than saving every last cent for the next 5 or so years I would recommend learning more about the creative side of real estate.  You want to be the one finding the deals so you can create the financing.  Many people like to refer to them as Wholesalers.  I don't think of myself as a wholesaler.  I am a deal maker!  I find the deals, structure the deals and sell the deals (the ones I don't want to keep for myself).  

As far as owner financing goes, I have structured three owner financing deals in the last 30 days right here in SL, Davis and Weber Counties.  I have several I am currently working on in Utah County.   However, that is not what you want right now.  You want to find the deals and either start getting paid or so you can structure the deal with little to no money out of your pocket and you can either take over existing debt or create financing through the seller.  This stuff actually works!  Spend some time working on your education through classes, podcasts, Meetups, mentors, or whatever it takes.  There is a ton of free info online.  Go to Youtube and search for whatever interests you. 

The world of real estate investing is not easy!  If you really want this figure out a way to make it work.  I promise you that not every successful investor out there started with a boat load of cash!  Including me!

If you would like to chat more PM me!