If you could go back and do it over again, what do you think is the easiest way to save up a big chunk of money for a down payment on something?
i have the plans I just dont have the capital for a down payment, yet, and i'm being as patient and hardworking as I can be at my current job, but I can't help but feel like there is better faster ways to come up with a down payment for something. if you could go back in time and do it all over again, what would you do differently?
[{"id": "i55r5xm", "text": "If I could go back, I\u2019d start looking for investors earlier instead of saving for years.", "replies": [{"id": "i564epx", "text": "What kind of CRE and what terms do you give to investors?", "replies": [{"id": "i56d2so", "text": "As always, it depends on how good the deal is.", "replies": [{"id": "i5c1t02", "text": "Almost helpful", "replies": [], "depth": 4}], "depth": 3}, {"id": "i574i7k", "text": "Multifamily - 70/30 with a 7% pref\n\nsearch \u201csyndication\u201d on biggerpockets .com to learn about partnership terms", "replies": [{"id": "i597dhw", "text": "Bigger pockets lets novices pay them monthly to be called a \"pro\" when they aren't.  Most are novices but they get together and shill for each other.  These are not the people you want to be handing money to.  You would think if they were being honest they would just call them students.", "replies": [], "depth": 4}, {"id": "i5a250i", "text": "Familiar with the basics of syndication and I know of bigger pockets. \n\nI will give both more consideration fue to your recommendation. Thank you.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "i58abw7", "text": "How would you get LPs to sign on without a proven track record?", "replies": [{"id": "i58d96m", "text": "1. Become a true expert in the segment of real estate you are looking to invest in.\n\n2. Have a game plan to achieve strong returns and sell potential investors on that game plan", "replies": [{"id": "i5a38ru", "text": "Note, in order to check both these off, you\u2019ll want to network with, and learn from other investors in your area. Twitter, Books and Internet forums are helpful but nothing beats learning from those who are already doing it.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i55twnp", "text": "Talk to a broker (a good broker),  they likely have clients that are equity investors and other people that will offer upfront cash for passive income.", "replies": [], "depth": 1}, {"id": "i560qim", "text": "OPM", "replies": [], "depth": 1}, {"id": "i562cts", "text": "Buy bitcoin", "replies": [{"id": "i565ydq", "text": "That\u2019s so very true, a friend of mine got into mining when bitcoin was around $70, I remember exactly because gold was around $680~, and I had just sold some land and I decided to foolishly buy some 1/10 oz gold coins for an investment, they have a premium over the larger coins and they move easier was my thinking lol. Now those 1/10 oz coins are roughly $210, I\u2019ve sold a few but for the most part my $10K investment tripled, but is nowhere near the value had I put $10K into bitcoin when it was $70 each. My friend also sold his over the years as it went up/down.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i59go8d", "text": "Education.  If I could do it all over again, I would start reading the books on CRE and real estate overall much earlier.  I waited until I was done with my graduate school before I got into reading about CRE, then  private equity and then finally development.  \n\nYou can't get to the equity and the investors without the track record and you can't get the track record without the education.  If you can educate yourself on CRE and development of CRE, you could get a job doing this, making decent money (over time), and then as you build your track record, you will meet people who are HNW individuals and overtime, build trust and a network.  From there, once you have your education, track record, and network, it shouldn't be too difficult as you'll have all the pieces to the puzzle. \n\nI like to think of people as having three legs to a chair (and you have to have all three) to be the right person for the job and to be successful: (1) you need the skillset and aptitude (education), (2) you need the experience (the proven track record), and (3) you need to have the right cultural fit and ambition (are you a team player, will people like you?).  If you have all three, then you won't have trouble building your network and having success.", "replies": [], "depth": 1}]