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Updated about 10 years ago,

User Stats

54
Posts
16
Votes
Howard Manning
  • Contractor
  • Sims, NC
16
Votes |
54
Posts

Ideas for newbies to jump start real estate investing.

Howard Manning
  • Contractor
  • Sims, NC
Posted

As an experienced rehabber with about a million in equity on paper I'm finding it hard to get either private money or hard money funding to fix and flip.  Newbies must find it nearly impossible.  So I like to explore ideas to jump start newbies in RE investing.  A thought I have is to set up a Joint Venture with a group of 5 or 6, primarily newbies and maybe some experienced investors, to get the first property to fix and flip.  After 3 or 4 properties the members could start drawing out cash from profits to start their own individual deals.  Each would need to kick in about $5000 to qualify for private lending, rather than the full $25,000 to $30,000 which for most of us is nearly impossible.  

Any ideas on how to structure such a group and how to hold title, and the funds.  I welcome your input.

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