Offlinemet with my 1st potential investor today. he really wants to invest and is going to get some money together, possibly borrow. i told him it needs to be cash and I mentioned about borrowing from any 401k he might have and paying it back after he refinances. he mentioned hard money lenders and i said it could be an option but to check them out and be careful.
Are there other options he could pursue for financing if I wholesale a property to him?
Thanks James
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Here are some other ideas to get money for investing. You metioned 401K, expand that any type of retirement account by suggesting a self directed IRA. They can also look for private money or private investors. If they have equity in a home they can do a HELOC as well.
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thank you.
James