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I work part-time answering phone calls and doing small ads for a small real estate office. I'm 20.
There's a man that buys a lot of houses through my boss, the broker. He's an investor. I've always been interested in investing. I'm minoring in business. (My major is less practical... theater... i know i know lol)
Anyways, I have been saving up money on the side and I was wondering if it would be rude or something to ask that guy, who I've spoken with a few times now and knows me (not personally, just knows me), if he would let me put partial money down on one of the houses he invests in so I could get part of the profit.
I don't know if he flips them or rents them
but if he flipped them, say it was 3000 down, he put 2700 and I put 300. The house gets a profit of 15000. He takes 13950 and I take 1500. (I don't know if I should get back the same 10% I put in since he does all the work of finding the house and selling it etc.) Anyways, he doesn't gain anything from it. He's making less money TOTAL but his ROI is the same.
What would be the proper way to ask if he would let me co-invest in the house so I can learn some things and make a little money? What would be a good % to put down and a good % to ask for? (Since all I'm doing is putting money down, not finding the house, doing paper work, etc.)
There's a man that buys a lot of houses through my boss, the broker. He's an investor. I've always been interested in investing. I'm minoring in business. (My major is less practical... theater... i know i know lol)
Anyways, I have been saving up money on the side and I was wondering if it would be rude or something to ask that guy, who I've spoken with a few times now and knows me (not personally, just knows me), if he would let me put partial money down on one of the houses he invests in so I could get part of the profit.
I don't know if he flips them or rents them
but if he flipped them, say it was 3000 down, he put 2700 and I put 300. The house gets a profit of 15000. He takes 13950 and I take 1500. (I don't know if I should get back the same 10% I put in since he does all the work of finding the house and selling it etc.) Anyways, he doesn't gain anything from it. He's making less money TOTAL but his ROI is the same.
What would be the proper way to ask if he would let me co-invest in the house so I can learn some things and make a little money? What would be a good % to put down and a good % to ask for? (Since all I'm doing is putting money down, not finding the house, doing paper work, etc.)
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