All Topics / The Treasure Chest / Deposits

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  • Profile photo of FWFW
    Member
    @fw
    Join Date: 2002
    Post Count: 478
    October 20, 2002 - 10:14 pm

    Hi everyone
    I’m looking for some “creative” input here.
    At some point I will run out of money for deposits on properties. Although I can wait for the positive cashflow to add up over a few months to buy each new property, that will slow things down a lot.
    So my question is, has anyone found a way to source funds for their deposits, other than using a LOC against another property? This might mean using private investors, joint ventures etc.
    I’d really like to get some feedback on this one and learn what has or hasn’t worked for other people.

    Keep smiling
    Felicity 8-)

    Profile photo of darrenbdarrenb
    Member
    @darrenb
    Join Date: 2002
    Post Count: 71
    October 21, 2002 - 10:19 am

    One very successful wrapper borrows the deposit monies from private investors and pays them back at 10% + interest. This strategy will work for a short term 1-2 year wrap. I wouldnt recommend this for a beginner though who has very little cashflow to play with.

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