Id say option one, if money is tight now, it probably will be in 2-3 years. So thats a null point. If he can get the backing do it. See if he can get more than normal for "payroll" and use that to get his personal finances on track.
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Free registration at the forum removes this block.Id say option one, if money is tight now, it probably will be in 2-3 years. So thats a null point.
Why is it a null point? What if he chose option 2 and worked it well? We both assumed you could make money quicker with option 2. What do you think?
Thanks to both of you for your thoughts.
Option 1: Partner with financial backer and buy ~6-10 unit apartment complex. You are responsible for everything – the acquisition, closing, management of the building. Partner just puts up the money and is the balance sheet the bank needs to see. Build up from there. We assumed would take 2-3 years before you have any meaningful cash flow. Means money would be tight until then and it is sometimes tough to think big when dealing with daily cash flow issues.
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