Advice For 1st Deal....

benandriss profile photo

Question for anyone out there.... Looking at doing our first deal- buying a few empty lots, building houses and turning around and selling- it's in a vacation town where there's tons of $$ to be made.... Only prob- no way to afford buying the land and building straight up- don't want to go through bank and have mortgage, etc.... Is this something an investor would be interested in? I would think it would be! But the main questions- what's the norm % to give them as return- we only want their $ to build, not have them be involved in the process. The only thing they'd do is give us $ and then sit back and reap the rewards after- but what rate of return would be appropriate? Probably looking at getting their $ back in 12 months....
Any help / advice is GREATLY appreciated- don't want to mess up our first deal! smile
Thanks!

Comments(2)

  • 14th July, 2003

    This site is messed up on my computer, so I can't find the link, but somewhere on this site I have seen loans that people are offering. I have seen loans for the amount of time you are talking about and they have all sorts of programs depending on your credit and such. Keep investigating! The money is out there as long as you have a plan together and a deal in the pipes.

    The Ghini

  • peoria14th July, 2003

    You might want to go to the "lenders" tab at the top of this site.
    There may be some options for you.

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