Updated over 9 years ago on . Most recent reply
Achieving funds to start out
Hello all,
I'm very new and still learning and absorbing information from bigger pockets and it has been great so far. I have come up with a plan that I think is decent and maybe some of you can point me in a better direction if I'm wrong. I have no money or backup funds to start with due to back surgery and been out of work. The wife can pay the bills but that's about it. So I have researched this and is something I truly want to do and will do in time. Now as for my plan I want to buy and hold thru anonymity type llc. One holding and one flipping. I want to fix and flip and try to make a 20k profit. I want to spilt that profit 50/50 50 to live and 50 back to lender/ private money and eventually that 50 will go back into the business to help pay down mortgages. Once purchased I will use the typical 50% the best I can and manage my own properties until I own enough I need to hire a company to do it. I will continue to fix and flip houses to fund things but keep every 3rd home for the buy and hold. Does this seem like a good way to start out to all of y'all veterans of bigger pockets and using this theory will I be able to find funds for the first few? Thanks for your time!