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Nice! Well if I could find a place in orange county at half market value fixed up, I might have to move back!

Hard money = private loan, right?

Not really. I know there are a lot of ways to get into commercial but I'd kind of like to stick with what I know already and build on it, no pun intended :mrgreen:. Buying and selling houses I know, and I'd rather expand on that somehow than start over. I may even bite the bullet and get into rentals out of area after all. We'll see!

I know when I bought my house, I did a "no doc" loan that I don't recall documenting much of anything on, but that was a few years back.

I guess he'd have to find someone he trusted and that trusted him, because he'd not only own 50% of whatever was purchased on paper, but he'd be on the hook for the loan.. So it sounded like it's just a pipe dream, but I figured I'd ask around anyway.

No, no. I don't need a partner, at least for what I'm looking at doing. The question was is there an opportunity out there for someone to join in some kind of partnership simply by virtue of having credit scores all over 800. As a co-borrower or anything that can be suggested where his credit has some value by virtue of being able to get the other partner a better loan. This person has no cash, just perfect credit. I had no clue, so I thought I would throw it out here.

A friend threw this at me the other day when he heard I was reading these forums. Are there any suggestions out there for ways to get involved in an investment with no cash, but the ability to use (risk) your credit to make a deal happen? The guy has ficos all over 800 and the thought was that this should be worth something to someone looking to do a purchase. The trick of course would be how to keep him from having an equal claim on the property (as we're sure the person with the cash would want), or liability for the mortgage (as he would want), but still help make the deal happen. Is this pie in the sky? If so, any suggestions?

my first question would be what part of California? Everything I have been hearing lately about OC, LA, and Riverside Counties is that prices are either flat or still falling a little. I'm new to this but have been listening as much as I can. But from what I can gather, this doesn't seem like the best environment for doing a rehab.

oh yes, foreclosures or "forks" as the coffee and bagel bunch calls them are being talked about more and more.. last week it sounded like it's still the world of all cash buyers and people willing to jump on people as soon as they go late on a payment. Then you hope that they have equity. I know there's far more to it than that of course :lol: But for now I'm still looking at some things out of state.

And I noticed that online listings frequently say anything about access or even if the land is on a hillside! I checked out some things in Lake Elsinore just out of curiosity, and I learned after inputting tax numbers in another program why the cheapest things out there, were, well, the cheapest! At this point I think I'm leaning more towards other types of investments, and I'm learning a lot specifically about preconstruction investing. I've been saying I wanted to avoid being a landlord or paying a property management company, but I may have to take the slide afterall.

I live in Corona, CA, and the price drops don't effect me too directly. I mean it was nice to hear my home was worth a little more a year ago than it is right about now, but I've owned it for awhile and made plenty of cash through it. About the only thing I considered doing but backed out of was buying something already nicer than what I had rather than upgrading, but seeing how long some of the places in my neighborhood were taking to sell, that I wouldn't be able to get what I saw at the end of last year, and then thinking about the property taxes made me reconsider. I guess the worst part is my friends aren't doing any more flips for me to look in on! Or looking at new buildings to purchase nearby, etc. I used to hear about the newest deal that someone was looking at over coffee and loved hearing the details. It's like a chill has descended, right when I was looking at joining in on the game!

OK here's a more specific question, why would some projects have huge deposits required, and some need absolutely none to reserve a unit? I've been learning as much as I can about this and been a little surprised by what different projects require up front.