MYTH #1 - You Need Alot of Money
This is by far the most common excuse I hear people relate, when it comes to why they can't buy investment property. But it just simply is not true, and let me tell you why.
You don't need a lot of money. What you do need is a good deal. By a good deal, I mean an investment property that has profit potential and is based on solid financials.
With investment property, you may not be able to come up with the entire down payment. This is when you try to find partners, investors like yourself, who are looking to put their money down on a good deal. The concept is simple. You find a great investment property, raise the equity required to purchase it, and give the equity participants on your team - the majority of the ownership, keeping an interest for yourself.
Many people don't like the idea of partnerships. They think partners think to much of themselves, or perhaps I'm leaving too much money on the table. But nothing could be further from the truth. In a partnership investment, you have much more purchasing power than you would if doing this by yourself. That means you can purchase a building of higher quality, one that has more income producing potential.
For example: If you had $20,000.00 and wanted to invest it, you could only purchase a property worth $100,000.00. How many investment properties do you think are out there selling for only $100,000.00? Not many. Secondly, which would you rather have, a $100,000.00 building that cost you $20,000.00 (with your own cash), or a share in a partnership - on an investment worth $3,940,000.00? Which one has the potential to create more of an income stream?
When it came to finding investors, you first need a good deal. With a good deal, you don't have to do alot of selling. Most investors can see the potential of a good deal, when it comes across their desk. With good management and accounting in place, you will have nearly an inexhaustible supply of people who are looking to invest their money in a good deal.
All you need to do, is find the great deal, and the hardest part is done. This is where I come in. I can help you find that great deal.
This is by far the most common excuse I hear people relate, when it comes to why they can't buy investment property. But it just simply is not true, and let me tell you why.
You don't need a lot of money. What you do need is a good deal. By a good deal, I mean an investment property that has profit potential and is based on solid financials.
With investment property, you may not be able to come up with the entire down payment. This is when you try to find partners, investors like yourself, who are looking to put their money down on a good deal. The concept is simple. You find a great investment property, raise the equity required to purchase it, and give the equity participants on your team - the majority of the ownership, keeping an interest for yourself.
Many people don't like the idea of partnerships. They think partners think to much of themselves, or perhaps I'm leaving too much money on the table. But nothing could be further from the truth. In a partnership investment, you have much more purchasing power than you would if doing this by yourself. That means you can purchase a building of higher quality, one that has more income producing potential.
For example: If you had $20,000.00 and wanted to invest it, you could only purchase a property worth $100,000.00. How many investment properties do you think are out there selling for only $100,000.00? Not many. Secondly, which would you rather have, a $100,000.00 building that cost you $20,000.00 (with your own cash), or a share in a partnership - on an investment worth $3,940,000.00? Which one has the potential to create more of an income stream?
When it came to finding investors, you first need a good deal. With a good deal, you don't have to do alot of selling. Most investors can see the potential of a good deal, when it comes across their desk. With good management and accounting in place, you will have nearly an inexhaustible supply of people who are looking to invest their money in a good deal.
All you need to do, is find the great deal, and the hardest part is done. This is where I come in. I can help you find that great deal.
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