Newbie Investing In NEvada Developments
I live in CA but would like to invest in developments in Nevada.
What is the process of doing this? I hear there are alot of developments out there plus can you do this with no money down?
Any advice or direction would be appreciated.
There are developments nationwide that are no money down scenarios. Usually they utilize your credit for cash back returns. A little on the risky side, but for no money down, what would you expect. My advice would be that you make sure you set up fail safes. Such as you get the property if they default, and/or the loaned money goes into an escrow to be paid out in increments of completion upon your signature. This way if they dont perform, you can have the rest of the money to complete the project and hire someone else to recoup some of your losses. Another option is cross collateralization of other properties the developer owns to secure your interests.
Good Luck,
Kyle