Hello BP, Excited to be back on today and continue learning. I have been curious about the different professionals one would need to have access to in order to close a deal. As i have heard, many professionals can be involved in the buying process and i was curious as to who exactly would be needed in certain transactions such as wholesale deals or fix and flip, and rental investments. as a young adult trying to get in the business, i see it crucial to make sure i have to right people in my corner during a transaction. I was also curious as to how someone with limited credit would be able to close a deal? many gurus say you need absolutely nothing, however i understand this is far fetched and would like to be more sure about my decisions toward investing. I know capital is needed and am curious to find the best way to secure lenders and investors? thanks for everything.
@Jordan Freeman There are many people that would be great to have on your corner when dealing with real estate invesments: realtor, mortgage broker, cpa(knowledgeable in REI), lawyer(knowledgeable in REI), contractor, handyman, and so on. The list can go on and on. Even people close to you could be great to have on your corner since they can either help finance your projects or refer other people that can help you accomplish your goals.
Do you have a stable job with a good income? Even with a limited credit you might be able to qualify if your credit is good and you have a good income. Another way you could qualify for a conventional mortgage(without going the creative route) would be find a co-signer. You can find someone in your inner circle(family/friends) or find a partner for your investments. For other options(more creative), look into "The book on Real estate investing with low or no money down." Hope that helps!
@Felipe Ocampo started a great list and has some good suggestions. He gets a vote from me!
I would add a good title company to do closings and/or title searches for you and of course, a motivated seller! Welcome @Jordan Freeman !
I would add ask everyone you know and meet to be either
an Ira private lender or
jv capital partner
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