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Forums » Starting Out » How to get Funding

How to get Funding Subscribe to How to get Funding

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Andrew Cobb

Inspector · Douglasville, GA


Forum_avatar_avatar-apcobb

Aug 18 '08, 12:36 AM

I have located numerous properties In Pensacola Florida which will produce cash flow. My only issue is that I have no money, am just now building my credit, and my parents think I am crasy so they won't help me. What do you suggest I do about geting the financing to purchase the properties.

Edited: 06/26/2010 at 05:42AM


Jason Hanson

Real Estate Coach · Oakton, Virginia


Forum_avatar_avatar-primo_coach

Aug 18 '08, 12:49 AM

Andrew,

1. See if the owners will do owner financing or sell the house subject-to
2. Find a private money lender
3. Find a partner to JV with who has big pockets

If you have no money, I would learn wholesaling and other creative methods such as sub-2 and lease options before I got into REO properties where you have to put a large chunk of change down.

Edited: 06/26/2010 at 05:42AM


Dave Kennedy

Real Estate Investor · Georgetown, MA


Forum_avatar_avatar-bostonhome

Aug 18 '08, 01:54 AM

Is private money different then hard money lenders or is it one in the same.

Edited: 06/26/2010 at 05:42AM


Andrew Cobb

Inspector · Douglasville, GA


Forum_avatar_avatar-apcobb

Sep 27 '08, 03:33 AM

What is sub-2 and how would lease options bennifit me?

Edited: 06/26/2010 at 06:00AM


Jeff Fairchild

Real Estate Investor · Vancouver, Washington


Forum_avatar_avatar-jeff88

Sep 30 '08, 09:08 AM

Private money is from any regular individual like your doctor who you can convince to lend you money.

Hard money is from a business person or company who does lending at least part time, for a living. They have strict guidelines to how they do business.

Edited: 06/26/2010 at 06:02AM


Jeff Fairchild

Real Estate Investor · Vancouver, Washington


Forum_avatar_avatar-jeff88

Sep 30 '08, 09:09 AM

If you dont know what subject to or lease options are, you need to go read about 5-10 more real estate books as fast as you can, then come here and ask unique questions that aren't explained in those books.

Edited: 06/26/2010 at 06:02AM


Bill Holbert

Developer · Westminster, Colorado


Forum_avatar_avatar-bholbert

Oct 01 '08, 12:56 AM

How do you find those individuals that will invest in a real estate development with their private funds?

Edited: 06/26/2010 at 06:02AM




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