Jason finds himself in a spot where I think many of us have been. Jason writes: I don’t have a lot of cash in the bank – is there any strategy for me to purchase an investment property?
Speaker 1: Welcome to the real investing show with Tim heritage. Each day, we’ll provide real investing for everyday investors. Tim is a nationally recognized real estate investing expert podcast, host and public speaker. He built his businesses from the ground up and is here to help you do the same. Here is your host, Tim heritage.
Speaker 2: Welcome back to real investing. I’m Tim har, glad to have you back today. Jason writes, I don’t have a lot of cash in the bank. Is there any strategy for me to [00:00:30] purchase an investment property? That’s a good question, Jason. So the answer is absolutely yes, there are creative financing ways. There are ways you can take a property sub too. There are subject to the existing financing. There are ways that you can get a partner. I tell everyone this good deals can always find money. If you master finding a good deal. If you master creating terms that people are attracted to, if you master finding a [00:01:00] way to generate off market distressed inventory for an active flipper, et cetera. Yes, there is a way for you to purchase investment strategy. Now, as with anything, it depends on how you want to get paid and how often, and I tell the people this all the time, so you wanna bring me a deal and you want to get an assignment fee or a finder’s fee in essence.
Speaker 2: Absolutely. That’s very easy. You wanna bring me a deal and you want to get a finder’s fee or an assignment fee because you need to make money now, but then you want part of the cash flow as [00:01:30] well. Yeah. You know, that’s a little harder cuz we have to figure out how often are we distributing? How much do you want? Is it a small percentage at large percentage? Is it one of those things that you’re gonna be in it for the long haul? You know, there’s, there’s all sorts of things that come into play. Uh, same thing with the flip. I have people that bring me flips and they’re like, oh, I wanna partner on the deal. It’s like awesome. Then they want money up front. Well then they want me to do all the work. Well then, you know, so it it’s, I would say if you [00:02:00] bring the deal, yes, it’s possible to purchase, uh, you didn’t really say if you wanted to own it as a rental property or if you just wanted to make money off of it now.
Speaker 2: Um, but yeah, there, there are, uh, partnerships, joint ventures are out there like crazy, especially if you get really good at bringing in really good deals. So I would say go to your local networking event, I would say, uh, you know, get to know people that are where you want to be and then find a way to add value to their businesses. [00:02:30] Find a way to add value to their operations, find a way to add value to their lives. And then frankly, just bring a good deal. You bring a good deal. There’s ways to do this business. Um, wasn’t a super specific question. So I did my best to answer it. Uh, thank you again, Jason, for writing in and uh, if you have questions out there, just hop on over to, I have lunch, money.com. Submit your questions and we’ll see you tomorrow.
Speaker 1: Thank you for hanging out with us today on real investing. If you have questions, comments, or feedback, please visit IHaveLunchMoney.com. Tim. Can’t wait to hear from you. We’re always grateful for your reviews. And if you enjoy this episode, please subscribe and share it with your friends. Remember the business is the vehicle, not the dream. See you next time. The proceeding program is provided for general education purposes only and does not constitute legal tax, financial investment or other professional advice. No information contained in this program should be construed as financial investment or legal advice from any individual author of post or guest. You should always consult a financial advisor before investing.
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