05-24-2006, 10:10 PM
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#20 (permalink)
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Junkie
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Quote:
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Originally Posted by NoSoup
I likely could qualify for a loan if I wanted to do so, but I would much prefer to get an investor and purchase the properties in cash. Like I said, I would be more than willing to put some money in, but I wouldn't want to finance the majority of it - if I did, then I would probably just get a loan and do it myself  |
You keep talking about "paying cash," but whether you find an investor or get a loan, what you are doing, in effect, is "paying cash" with borrowed money. That is no more "paying cash" than buying something with a Visa card. If it is not coming out of your own back pocket, it is not "paying cash."
Also, I would think that a potential investor would be given pause by your sig. A person who makes light of getting tossed in the drunk tank doesn't exactly give off an aura of reliability and good judgement. Consider how your ability to turn your real estate investment would change if you suddenly found yourself with several thousand dollars of legal expenses. And no driver's license.
Lindy |
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