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Looking for Time & Experience Partner/Mentor

Discussion in 'Real Estate' started by Connector, 18th Oct, 2013.

  1. Connector

    Connector New Member

    Joined:
    2nd Jun, 2013
    Posts:
    3
    Location:
    Gold Coast, QLD
    Hi Everyone,

    I am wondering if anyone can help.

    Me and a few friends purchased 9 investment properties in 2010/2011 as a group with the aim to always by and hold, and refinance with an 100% offset account each year we could .....We we're naive and fresh to the game, we utilised OPM, created a verbal JV agreement which is still in place - and have been basically pumping money into these properties in order to maintain our slight grip of the property until we hit our first refinance which we assumed would be 1-3 years at the time.

    It's been a hectic, rough, financially ball breaking couple of years, but we still have kept up our end of the bargain - where some of our cash partners whose role was to help support the payments , and expenses of the properties haven't lived up to their bargain.

    We understand the property cycle and we are all firm in the belief that in the next year or two we will start to see that shift in prices and our long awaited refinance boom will magically appear and we can set these properties up and get them running smoothly - start to claw our way out of the hole we've been in and all our hard work will start to pay off, or possibly even sell a few of them to cover our debts.

    We are on the verge of losing a couple of them and we are really looking to either partner up with someone/s that have the resources available, or meet with someone who has alot of experience with property investment looking at finding solutions to our current situation.

    I'm open to suggestions, if anyone has any, or if you know someone that might be willing to assist us in anyway I'm/we're happy to sit down and show you where things are at and hopefully find a solution.

    I appreaciate your time and any advice you can offer

    Kind Regards
    Dan