Investment

cheer · #1 02-05-2007, 11:36 PM

So I found this really cool investment property and I am looking for investors. It is a 4-plex unit by Minneapolis and I currently have good credit and no money for a down payment. I can't let this opportunity go by. How would you guys suggest going out and finding investors/and or how do I get these investors hooked w/ me rather then just getting the property themselves after I show it to them?

ItalianFX · #2 02-05-2007, 11:51 PM

If you have good credit then get a bank loan or try doing seller financing.

Misfire · #3 02-06-2007, 02:39 AM

Finance forum might be a better place to check.

cheer · #4 02-06-2007, 03:44 AM

I can't state income because I don't state my poker winnings. Also I looked into seller carry backs but because I have to get a "None Documented" loan (don't have to state income), seller carry back is not allowed. I could get a bank loan but I don't have any money for a down payment. Also this place needs major repairs...around 50k worth. I need investors for the down payment, repairs, insurance. I can cover the monthly payment (from poker) Where can I find investors to make this work?

Ron_Mexico · #5 02-06-2007, 03:56 AM

I would say that you have no chance of getting investors or getting financed for this.

ItalianFX · #6 02-06-2007, 10:19 AM

[ QUOTE ]
I can't state income because I don't state my poker winnings. Also I looked into seller carry backs but because I have to get a "None Documented" loan (don't have to state income), seller carry back is not allowed. I could get a bank loan but I don't have any money for a down payment. Also this place needs major repairs...around 50k worth. I need investors for the down payment, repairs, insurance. I can cover the monthly payment (from poker) Where can I find investors to make this work?

[/ QUOTE ]

All real estate is negotiable. Try making up some creative deal and see if the seller will agree to it.

As far as investors, try www.creonline.com and post over there and see if you find anyone who is interested.

cheer · #7 02-06-2007, 06:53 PM

Thanks ItalianFX

Nato76 · #8 02-06-2007, 07:06 PM

[ QUOTE ]
I would say that you have no chance of getting investors or getting financed for this.

[/ QUOTE ]

You are such a negative and toxic member of this forum. How can you tell this guy that he has no chance of getting investors for this deal without even knowing all the details? You also have no idea of what you are talking about the majority of the time.

Ron_Mexico · #9 02-06-2007, 07:12 PM

Ok tell me when you get the deal, I am very positive and always encourage people to go after things, but I also am trying to be realistic. If you cant show any income and have no down payment then what do you have to offer. If you showed me this investment and I like it I wouldnt give you money I would buy the place myself.

Sniper · #10 02-06-2007, 07:46 PM

[ QUOTE ]
Ok tell me when you get the deal, I am very positive and always encourage people to go after things, but I also am trying to be realistic. If you cant show any income and have no down payment then what do you have to offer. If you showed me this investment and I like it I wouldnt give you money I would buy the place myself.

[/ QUOTE ]

He found the deal, that has value, in and of itself... there are people doing what he proposes.

... and I agree, your tone is pretty negative alot of the time Ron... there is a solution to almost any problem, its just a question of: getting the right information, being motivated enough, and proper implementation [img]/images/graemlins/smile.gif[/img]