You can purchase property for cash, of course, and if you have it, this can be the best way to get a great price. What if you don’t have the cash? Here are some of you other options.
Partner To Purchase Property
Join the local real estate investing group in your town. Then start taking notes, names, and numbers. Our group here in Tucson meets once a month. The best part of the meeting is the “I have / I want” part, where anyone can stand up and tell the rest what they are looking for, or what they have to sell. I have a list of people now that are looking for everything from mobile home parks to fixer-upper homes.
How do you use this information to purchase property? Here is one of several ways: Make an offer on a property, and include in the offer the right to assign to someone else or bring in a partner. Call the people on your list until you find one that will put up the down payment or arrange financing as a partner.
I announced that I had some money at one meeting, and three days later got a call from a couple that had the financing and down payment on a project arranged, but needed a partner to bring in the money to...
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