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- #8
Instead of selling the note, you can do equity participation. Get a private lender to put up ALL the money to buy the mobile homes and give them 1/2 of the cash flow and 1/2 of the upside.
The advantages to you:
(1) you can do many more deals because you don't need any case
(2) your cash flow will go through the roof
One investor I know in St. Pete used this technique with several private lenders. They had an agreement that each private lender would buy 10 properties and the investor would manage them. they shared cash flow, upside, and expenses equally. At the end of 10 years, they split the properties in half.
He now has 65 free and clear properties (with average cashflow of $800 per month) and all he had to do to get them was find the deals and manage someone else's properties for 10 years.
Even if you give up 1/2 the profits, if it helps you get twice as many deals, it is worth it especially in this market where there are SO MANY great deals available.
The advantages to you:
(1) you can do many more deals because you don't need any case
(2) your cash flow will go through the roof
One investor I know in St. Pete used this technique with several private lenders. They had an agreement that each private lender would buy 10 properties and the investor would manage them. they shared cash flow, upside, and expenses equally. At the end of 10 years, they split the properties in half.
He now has 65 free and clear properties (with average cashflow of $800 per month) and all he had to do to get them was find the deals and manage someone else's properties for 10 years.
Even if you give up 1/2 the profits, if it helps you get twice as many deals, it is worth it especially in this market where there are SO MANY great deals available.