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Old 04-25-2013, 05:29 PM
 
24 posts, read 31,143 times
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Are there real estate investment clubs in Vegas? I am looking for a partner for an all cash home purchase around 185k for rental then sale with appreciation after approx 1 yr. I am looking at a short sale in Southern Highlands
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Old 04-25-2013, 07:35 PM
 
Location: ( ͡ ͜ʖ ͡) (╯□)╯︵ ┻━┻ ̡
7,112 posts, read 10,858,216 times
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You are looking for someone to match your $185K? Or you have half of $185K and want the other person to come up with the other half?

Better idea would be to use a lending institution as an "investment club". Use about 20-30% of your cold hard cash and still sell after a year of appreciation. This way you could probably buy a couple homes.







Some people will be posting soon about how much of a bad idea this will be.
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Old 04-25-2013, 08:41 PM
 
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Are you going to do all the leg work? -- find a good distressed (short sale or foreclosure) property, rehab it, then sale it.
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Old 04-25-2013, 09:17 PM
 
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I'd be careful going partners with another person. My mother did this 2 decades ago in Santa Cruz and was strong armed into selling her portion to the partner just as prices were starting to rise. Business arrangements are always tricky. You can't trust a stranger but a relative or friend is also not a good business partner because of the potential damage to your relationship.
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Old 04-25-2013, 10:19 PM
 
24 posts, read 31,143 times
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Quote:
Originally Posted by von949 View Post
You are looking for someone to match your $185K? Or you have half of $185K and want the other person to come up with the other half?

Better idea would be to use a lending institution as an "investment club". Use about 20-30% of your cold hard cash and still sell after a year of appreciation. This way you could probably buy a couple homes.







Some people will be posting soon about how much of a bad idea this will be.

185 Total between the both of us. I am having second thoughts. If I can't do it myself i will just pass.
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Old 04-25-2013, 11:00 PM
 
Location: Holtsville
46 posts, read 42,759 times
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actually i have no idea about it...........
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Old 04-25-2013, 11:03 PM
 
283 posts, read 411,580 times
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Quote:
Originally Posted by grey1988 View Post
185 Total between the both of us. I am having second thoughts. If I can't do it myself i will just pass.
That's not a bad price point. If you do find a partner make sure you and the partner go visit a real estate lawyer and draw out an agreement.

The agreement could make or break the partnership so make sure you get it right. If you are going in $185K that's a good chunk of money so do your own due diligence on the people you may meet.

Also, do you have your team lined up? contractors, handyman, RE agent, and so forths?

Maybe have a meeting with sells702, von949 and other investors before starting out on your own. May save you $$$$$ just by buying them lunch and chatting with them.
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Old 04-26-2013, 05:54 AM
 
Location: Las Vegas, NV
548 posts, read 1,002,633 times
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Try MeetUp. You will find several RE investment groups there.
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Old 04-30-2013, 01:14 AM
 
24 posts, read 31,143 times
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thanks. I will

Sent from my SAMSUNG-SGH-I747 using Tapatalk 2
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Old 05-12-2013, 08:22 AM
 
371 posts, read 810,491 times
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buying half house with a stranger? shouldn't you team up with someone you trust? or as long as you write all the stuff you want in the contracts then it's fine? of course when you want to sell it both of you need to agree right? and also need to split the work and everything.

local investment clubs? what's that about, do you just go and talk about investment or you team up with people and buy up stuff? but with strangers? hmmm so is it a common thing?
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