All Forum Posts by: Liz Smith

A couple of days ago, I posted an add on craigslist as follows...

Looking for a partner in real estate. I will do all the work of finding, making offers and management of properties. I need someone who can provide cash for down payments and cash offers.

Someone responded to my add! Now I am scared out of my mind to talk to this person! I have no experience in real estate. I am just starting out. I have spoken with realtors, banks, hard money lenders, friends, etc but for some reason this has put me in panic mode!!

I dont want to sound like an idiot. I know I am not supposed to sound desperate and I dont feel desperate. Can you please give me advise and info I should know before calling this person back. What are the must's and must NOT's?

Thanks!

Liz

My coach says keep trying and tp think creatively. Not to give up. Keep pushing toward my goal. That it isnt easy but it is possible.

Seriously! I am sending a big hug to all of you that responded!!! Thank your for the council! I will look into these options!

Ok after reading some older discussions I think I should add a little to my previous post. I have been looking at properties for about 2 months.My main interest is in multi family units. Ultimately I want to end up in large apartment buildings. I have found several multi family units and single family homes that I could cashflow, but havent been able to move forward due to a lack of a down payment. I have been taking coaching classes in real estate and have spent an average of 2-5 hours a day 5 days a week, educating myself through books, classes, online, speaking with real estate agents and banks. I had a hard money lender referred to me (Seed Capital) and have looked into this as an option. It is through credit cards and they have approved me for $180,000.00. With the hard money I believe I would need to flip houses in order to be able to pay back the money in a timely matter. A friend of mine has suggested building a start up home and then flipping it.  I really dont want to go this route but it seems like my only viable option. what are your thoughts on this? and does anyone know other options?

How do I get my hands on money for a down payment? I want to buy and hold properties for passive income but cant seem to find money for a down payment.