I’m looking for anyone doing Lonnie deals around the country who might be interested in starting a business in your area.
I started Capstone in 2006, doing Lonnie deals for investors who were just looking for a passive investment. They like the returns but didn’t want to get there hands dirty, so I set up a “Fee for service” company and have done about 86 Lonnie deals since then.
The thing is, there are three major parts here.
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The investors - They are the life blood of the business. As long as you have investors lined up, you can buy as many homes as you can handle.
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The homes - At some point you might run out of homes, I haven’t run into that problem, yet, but i’m sure it’s a mathematical fact that at some point I will run out of homes.
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The buyers - The faster you can sell them, the more you can do, so buyers are important too.
You see how all three fit together.
Here’s my problem: (Trust me it’s a good one to have.)
In December I was having a problem getting my existing investors to spring for more homes. Problem was that I was running them out of money. Most of them were using Self Directed IRA’s and as you know, any time you trade a couple thousand for a payment of a couple hundred, sooner or later you are going to run out of money. So I panicked, and began marketing heavily for passive investors. I set up a website (www.theyoubank.com) and began driving as much traffic as I could to the site.
Now I’m getting to the point where I may have too many investors. Not that it’s ever possible to have too many, but I’m only buying like 5 or 6 homes a month. Currently I have over 70 investors from all over the country.
People who are interested don’t like to wait too long for their first investment, so I just wanted to see if anyone who considers themselves the Lonnie Deal expert in their neck of the woods would be interested in setting up a business similar to mine. The hardest part of doing this business is getting the investors when you first start. I may be able to help with this, getting you started.
Anyway, it’s just an idea. Wonder if there would be any interest. Sorry the post is so long. Email me with any questions you may have or just ask me here. I’m kind of looking down the road where we could possibly set up a network of Lonnie dealers around the country…