@Michael Dallas see if seller will do seller-financing with you.Or, find a more knowledgeable partner to help you.

There really are a lot of facets to this business, so please keep digging to find a mentor/partner that is trustworthy to show you the ropes even if you find them deals and partner together!  

Since you're aiming to purchase a multi-family property in Long Island, especially with the help of a capital partner, it’s crucial to run the numbers carefully (rental income vs expenses) to ensure you’re set up for success. 

Even when wholesalers “kinda’ admit to the seller that they are going to “wholesale” the property, they still tend to mislead the seller by talking about “financing partners”, “equity positions”, “mentors” “membership” etc.So, various states have, under the banner of consumer protection, enacted legislation to restrict the use of the “wholesale” transaction in RESIDENTIAL OWNER OCCUPIED real estate - note, not commercial property and not residential when the transaction is between 2 investors. 

I also own a short-term rental management company that partners with other real estate investors and second home owners to 2-5x their returns while also taking the headaches out of operating STR’s.

I’m buying the property with equity partners…………..I don’t have any money personally to invest5.

Purchase price: $50,000 Cash invested: $35,000 Sale price: $121,000 Contributors: Peter Vekselman Partner Driven and Kody Higginbotham purchased the W 10th St property in Crowley, LA, for $50,000 on 8/27/2024.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Michael Trofimoff is her business partner according to the case information, evidence and rulings by the judge.

GP = General Partner (or sponsor)LP = Limited Partner (or passive investor)