With careful planning and local insights, Richmond can be a solid addition to your investment portfolio.Good luck!

I’m trying to keep things moving, but this $20K requirement is throwing a wrench in my plans.

Also, some of you will need a little pushback against Naysayers who will encourage you to stick with your Qualified Plan.] 

Have you considered investing in any other markets and how you plan to manage the property? 

Expanding your portfolio, streamlining tenant management, diversifying income streams, building a network, and planning for growth are also recommended.

I’m asking because I plan to eventually scale and get into multifamily syndication, and I know learning to raise capital will be a crucial skill.Scaling with Private Lenders: Once I’ve done a few flips, I’m thinking of finding a group of private lenders to help me scale the business.

If you are a solo-preneur, you can tag another investor in the group to assist.We have action-plans and drips for investors to use for lead generation via call, text, email, door knock, driving for dollars Most of this is done out of the box versus heavy configuration and customization like other systems. 

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

Your dentist has $4,000,000 in his 401k plan.

With careful planning and consistent effort, you can create a portfolio that aligns with your long-term goals.Good luck!