Planning with Flexibility

[David Light]

I recently spent a significant amount of time writing a business plan for the next five years with a timeline for acquisitions of buy and hold single family homes and all sorts of detail. I invest in Texas but currently live in London which would make things tricky but I didn't want it to hold me back from pursuing my dream. After finishing the plan I started to look for properties and ran into a great buy on Craigslist. It turns out it was a family member that listed the house. He was trying to purchase it but hard money financing was crazy expensive for him so thought about wholesaling. Long story short we ended up loaning him some money to purchase the house at a good rate and everything documented official, secured loan etc. I've done business with family\friends before and it always pays off to have everything in writing. Instead of acquiring properties myself I'm loaning money which wasn't in the plan at all but makes a lot of since considering I don't even live in the same country. We're straying flexible and considering it a win win. I'm a year in with two properties and now a financing deal. What a ride! Thanks to bigger pockets for all the help along the way. I'm just getting started...