All Forum Posts by: Mark Scarola

Good job at putting aside the money. It takes effort and commitment to turn $1K into $10K. I think the next question for you to ask yourself isn't simply how do I get started, but "what do I want to do?". There are a lot of different ways to invest and you should find a way that suits you and your skill set. Otherwise it's like getting a job as a doctor because you've heard they make good money even though you can't handle being around sick people. 

To be clear, I'm not trying to discourage you but rather ENcourage you to find your path now and save time spent going down the wrong road. Do you want to do fix and flips? Are you interested in mortgage notes? Do you like raw land? Are you interested in wholesaling? Are you good at raising money....? Do some research and find what fits your skills and personality. Then find a way to get into that niche. Otherwise it's really easy to lose what you saved and get discouraged.

To Joseph's point (above) make sure you define what each of you will do. A partner can be a great asset, but you don't want a clone of yourself. You want someone who will compliment you; someone who is strong where you're weak and vice versa. You also want to make sure that there's a personality connection. You don't always have to agree, but is there mutual respect? How would you handle a disagreement, esp if you're 50/50 partners? Also... if you both have access to the company bank account is one person a spender and the other a saver? 

Introverts understand the concept of quality over quantity. Don't try to meet everyone. Some meetups will even include introductions and that can be a great way for you to identify who you want to talk with instead of feeling like you need to filter through the entire crowd.

Also, if you go to an event that's educational in nature you'll have a topic of conversation built it. Look for a table or chair where there are fewer people. Instead of heading to a table where six people are in the midst of conversation, consider sitting near someone whose sitting alone. Starting a conversation or even just being open to one with fewer people can be less intimidating. 

Those are some valid points, but personally I would prefer to have a partner. That said, no partner is better than the wrong partner. But assuming you find someone you trust they can motivate you when you're discouraged, they can do the tasks that you find difficult or more challenging (hopefully they compliment you and aren't simply a mirror image of yourself), they can help you to maximize your time thus allowing you to get into more deals at a single time (diversification), and even if they're not overly experienced just having someone in the field to bounce ideas off of, brainstorm, and potentially catch a potential future problem can be extremely valuable.

That's the kind of partner I aim to be and the kind of partner I'd like to find (always looking).

I think the best thing to do (and the proper answer to your question) would be to call around town and see what your competition is doing. I can tell you that as an example, in Phoenix I've recently seen landlords charging an upfront pet fee of $300-500 and a monthly pet rent fee of $25-30. But while that may give you an idea, you should know what the norm is in YOUR market.

Thanks @Jeff S.. That's just what I was looking for. I was blanking on the phrase deed-in-lieu. Even though that's what I had in mind you raise some good points such as the fact that they could stack up a bunch of liens while the flipper owns the property and even if I had a deed-in-lieu or membership pledge (which I wasn't familiar with), those liens become mine without a proper foreclosure. 

I'm selling a house in Pennsylvania that I own free and clear. It needs a lot of work and so it is going to be sold as a fix and flip. I'm willing to offer seller financing, but in the event of a default I don't want to have to go through the expense and time to foreclose. I know that there's a way to arrange it such that in the event of a default, ownership of the mortgaged property would immediately return to me (again without having to go through the foreclosure process). What I need help with is the process. What do I need to do to set this type of arrangement up? Is it a quitclaim deed that I need or is it called something else? I can't remember. Thanks in advance!

I have now identified an additional location in California. I know the area well and the city is very open to working with developers. With a large industrial presence we can likely sell energy direct to consumers and not simply to the power company.

While I have a background in development, I still need someone with experience in the solar side of things, ideally someone with a strong resume which would help me tremendously to secure financing. This is an equity interest and you would receive a share of the profits commensurate with your contribution. I mentioned in the last post that $10-20K would be required. To clarify this is not a buy-in cost. I was simply saying that there will be misc startup expenses and having some money available would help. If you don't have the cash, but you have the experience... please contact me.

We're a commercial loan brokerage company serving the entire nation. Vettedloans.com

I'm actively putting together a team to develop a piece of raw land in the Southern California / Arizona desert areas for solar use. My personal experience includes raising capital, working with city officials, and coordinating the services of contractors and vendors. My last project focused on taking raw land and developing industrial warehouses.

For this project we will be focusing on solar energy (wind energy may also be considered- but solar is more likely). If you have done this sort of thing before, please reach out and provide a description of your background and area of interest. We are looking first and foremost for serious individuals ready to dive right in and start working. The two primary skill sets needed at this time include expertise in property development and land entitlement as well as solar panel installation. We're also open to other skill sets that may prove beneficial.

This is not an hourly or salaried position. This is a true partnership. You will be expected to contribute financially $10-20K and in exchange will be given an equity interest in the project. Actual figures are to be determined as the team comes together. While local individuals are preferred, anyone with the right skills will be considered.