I have recently come to the conclusion that I need to raise cash.
After the purchase of the duplex, I will pay off my student loans because they are at 8.25% interest starting in June. I guess I can thank the good ‘ole feds for raising the rate again and making my decision easy.
I have just enough cash to pay off my student loans and put the necessary down on the duplex. I figure that I might as well pay off the student loans as it is equal to a 8.25% guaranteed return on my money. I don’t think that I can get a tax free guarantee of that rate anywhere else???
I have located some nice properties that are too large for me, even with partners, at this time. I have decided to track down some investors and try to get some “finders fees” in order to raise cash.
One investment group has offered me 1.5% of the purchase price of anything that I can find them that they purchase. I decided to take them up on that offer and have faxed a legal contract to them to bind them to that amount. I have located several properties that they would be interested in. I am hoping that this will end up bank rolling a couple of other ventures such as the two franchises that I am looking at, or the partnership in the fitness center that I am still working on.
Nice day in the stock market today…I am still in cash for the moment.
Some large Cap dividend payers that I am interested in had great days today (TRP).
Have a good one!