Attention!! Calling all Veterans!! Calling all Veterans!

[Geoffrey Murphy]

Hi Everyone,

I want to first start off by saying that everyone here on BP is amazing! i AM A NEW MEMBER to the BP site. However, You guys/gals do not understand what a major you HELP you guys are to young investors like me!! You guys give us a huge ADVANTAGE over the herd! If there is anyone i could be of help, DO NOT be afraid to ask!

Down to business, Im 20 years old and I completed my first real estate deal when I was 19. However, it was not all peaches and cream, it was more like a huge learning curve but i enjoyed every minute of it!!!!!

Now, im currently in the process of selling that deal but the market has taken a turn of of course which is causing that deal to take a while to sell! (any ideas??)

I did that deal with a private partner. I actually have a few private partners that are willing to fund my deals but for some reason I have came to a hault. I am a Buy & Hold investor. I want to build up enough cash flow so i can do this business full time. I would not mind flipping houses in the meanwhile to build up some cash as well to throw back into the business.

The private partners that i have are high networth indiiduals that are willing to back my operation but how do I getting this opreation off the ground????? How to I utilize the tools in my tool shed!

What would you guys do first!

[Rob Gillespie]

Geoffrey,

You are full of energy and ambitious, I see why investors are excited to work with you! Anyhow, here is an idea for ya. Why don't you buy light rehabs, fix them and sell them on short term owner financing. This way you can give your investors a little light at the end of the tunnel. They will know there is an ending within 36 months, plus you will enjoy a nice downpayment, monthly cash-flow and a big payday at the end. Here is an example of one of my private deals.

Paid 60k at an auction for a beautiful need nothing home
Took out 12% zero coupon financing without points. 24 month balloon. interest accruing, but not compounding.

I sold the home on owner financing for 170k
I got 10k down (non refundable) at the time of signing
I got 1200 per month for around 18 months
They cashed out and after I assisted with closing costs and credits and closing costs, I brought home another 76k.
Overall, I had a nice income while the home was selling. I am not saying this is the only way, but it works well for me. I do not do these all of the time, I don't use OPM much anymore, but it is a great way to get your business off of the ground! Good luck!