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How do you go about finding a property to invest in? I'd like to partner up with someone or, more preferably, invest in a company that will own and manage the property and give me a share of the property. Eg: if the property is a building with 100 units, I'd like 30 units.
I suspect you need to do some more studying about how real estate works. No one wants to partner up with anyone who is thinking they won't have to do any work. You could invest in a REIT, which is basically buying stock in a company that invests in real estate.
How do you go about finding a property to invest in? I'd like to partner up with someone or, more preferably, invest in a company that will own and manage the property and give me a share of the property. Eg: if the property is a building with 100 units, I'd like 30 units.
I know of one development in a city in my area looking for investors just like that. I have no idea how you would find out about these opportunities nationwide though.
I suspect you need to do some more studying about how real estate works. No one wants to partner up with anyone who is thinking they won't have to do any work. You could invest in a REIT, which is basically buying stock in a company that invests in real estate.
What work is involved. Repairing the units? Keeping up with maintenance? I'll pay someone to do that stuff. My job would be to pay the mortgage on the units I own and collect rent.
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Originally Posted by Silverfall
I know of one development in a city in my area looking for investors just like that. I have no idea how you would find out about these opportunities nationwide though.
How do you go about finding a property to invest in? I'd like to partner up with someone or, more preferably, invest in a company that will own and manage the property and give me a share of the property. Eg: if the property is a building with 100 units, I'd like 30 units.
I agree with Oregonwoodsmoke. Based on what you posted, REIT's seem to be your best bet. No work or effort required on your part other than deciding which REIT to invest in.
IGR, GNL, FREL, REET.... and studying how these companies operate will give you great insight into the business. The simplest and best advice I got on the matter was from a Lebonese woman, who is a Chartered Accountant in Australia (same as CPA). That was to allow 40-50% of rent for expenses, and the other 50-60% for principle and interest... the rest is positive cash flow. I use 50/50%, and I pay cash.. so I calculate probable cash flow by taking half of rent amount.
It's basically a private partnership with a syndicaTOR, who manages the deal. Syndications typically pay out a regular distribution and are planned to sell later for a large profit.
Most of the smaller deals like you seem to be interested in that would be owned and self operated are gone today. Real estate is in ridiculously short supply, some long-time landlord/investors are selling because the sale beats anything they can make by holding for rental income/capital appreciation.
Sorry to say it, but you're about 10 years too late.
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