Would you figure it out or ask for help?

[Jorge De Jesus]

Hello BP, really hope you can help with this one! I am in Harris County Texas, more specifically the city of Katy,TX a Houston suburb. I’m looking at an off market Multifamily deal. It would be my first. I do not have the net worth or credit that bankers I’ve spoken to require. I don’t have the flipping experience some private lenders require. My circle of influence may be able to help but they are hesitant. I’m not one to quit because I’ve hit bottom before and it’s not the end of the world. I’m willing to put in the work to find the money and the credit partner. OR I can wholesale the deal make a good profit for my time, learn a bit more about Multifamily along the way and ask my end buyer to either let me keep some equity in exchange for a reduced wholesaling fee and teach me the value add process or let me manage the property or both since I live down the street. OR I can reach out to Multifamily owners and/or syndicators in my town and work out a structure where we partner either both as GP or I as GP and the partner as LP. Or perhaps a simple JV structure?

[Gino Barbaro]

@Jorge De Jesus

Look for a partner on this deal. If it's a great deal, find someone with experience and bring it to them. If you can't find someone, the I would wholesale and save the capital for the next deal. I like reaching out to operators and asking to partner

Either way, jump in and enjoy the process

Best

Gino