Updated almost 10 years ago on . Most recent reply
Building my team
Hi everyone,
I am looking to start investing in real estate in the Miami west kendall area. I have only high credit limits on my credit cards and no cash to start. Does anyone know of any financial resources that help investors in this area? And also, does anyone know of reliable contractors in the area? I am starting to build a team, but I am really strapped for money. I was hopefully looking to see if any investors in the area can guide me in the right direction as far as finding a loan program or hard money in this area first, then finding a reliable contractor. In putting my team together, my main concern is the money. It wouldn't matter if I find a good deal if I don't have the capital to invest with. So I am focusing onthe money first. Any input from you guys,especially the ones living in my area will be greatly appreciated. Thanks BP family.
Most Popular Reply
What I have learned in my RE career is that you need at least one of the following 3 things to be successful in real estate investing: The money, the deal or the experience.
The Money - If you have cash you can invest with people who have deals or maybe buy one from a wholesaler.
The Deal - If you know how to market and get your own deals you could use that to leverage a relationship with a flipper and lender.
The Experience - If you have done a bunch of deals it becomes pretty easy to utilize your network and knowledge to snag a deal and use someone else's money to fund the deal, but this is pretty far down the road for you.