hi I’m Evan Carmichael and welcome to
another edition of ask Evan in today’s
episode I’m going to answer question
from one of my newsletter readers osman
who was a property manager for 12 years
lost his job and now wants to raise
money to buy his own building and manage
it but he says he doesn’t have the
backbone to do it and he wanted my
advice so osman now’s a great time to be
able to go out and get a loan for
properties properties are you know super
low prices it’s easy to get a loan with
a low interest rate but you have to be
able to support those payments and you
have to have the credit history to be
able to get that loan as well so you
have two options if you don’t have the
the credit history support it yourself
you can either go out and find an
investor to partner up with so the
investor gives the money and you run the
building the problem on that front is a
lot of investors are used to hiring
property managers and maybe not having
them part of the business as an owner
now there’s definitely incentive to have
a good property manager on as a partner
but a lot of investors may not see it
that way so you have to go out of your
way to find a good investor and also
show how you’re different than the
average property manager how you’re
going to make it way better you really
know what you’re doing you have all this
experience and you’re not just a typical
property manager that they can hire so
give them reasons to want to make you a
partner in the business the other way
that that could also work is if you
don’t have the financial backing
yourself try to raise a small fund so
how much do you need to you know buy
this building to manage and then what do
you need for the down payment and then
start talking to friends family no
kindergarten old schoolmates and ask
them to potentially invest with you to
raise the amount that you need for the
down payment to be able to to make that
go so does require a little bit of
backbone you said you’re worried that
you don’t have one but this could be the
time to believe in yourself and launch
your own business you know you have the
skill sets to do it so get up and start
doing it I hope that helps if you guys
like the video please give it a thumbs
up or leave a comment below share your
thoughts as well I’d love to hear from
you and stay tuned for the next episode
you
another edition of ask Evan in today’s
episode I’m going to answer question
from one of my newsletter readers osman
who was a property manager for 12 years
lost his job and now wants to raise
money to buy his own building and manage
it but he says he doesn’t have the
backbone to do it and he wanted my
advice so osman now’s a great time to be
able to go out and get a loan for
properties properties are you know super
low prices it’s easy to get a loan with
a low interest rate but you have to be
able to support those payments and you
have to have the credit history to be
able to get that loan as well so you
have two options if you don’t have the
the credit history support it yourself
you can either go out and find an
investor to partner up with so the
investor gives the money and you run the
building the problem on that front is a
lot of investors are used to hiring
property managers and maybe not having
them part of the business as an owner
now there’s definitely incentive to have
a good property manager on as a partner
but a lot of investors may not see it
that way so you have to go out of your
way to find a good investor and also
show how you’re different than the
average property manager how you’re
going to make it way better you really
know what you’re doing you have all this
experience and you’re not just a typical
property manager that they can hire so
give them reasons to want to make you a
partner in the business the other way
that that could also work is if you
don’t have the financial backing
yourself try to raise a small fund so
how much do you need to you know buy
this building to manage and then what do
you need for the down payment and then
start talking to friends family no
kindergarten old schoolmates and ask
them to potentially invest with you to
raise the amount that you need for the
down payment to be able to to make that
go so does require a little bit of
backbone you said you’re worried that
you don’t have one but this could be the
time to believe in yourself and launch
your own business you know you have the
skill sets to do it so get up and start
doing it I hope that helps if you guys
like the video please give it a thumbs
up or leave a comment below share your
thoughts as well I’d love to hear from
you and stay tuned for the next episode
you
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