Approved for a loan, whats the next step?

Question

Hello everybody,

I am in Dallas, Texas and I have recently been approved for a loan that guarantees 30,000 in credit and if some other things fall through then I can maybe receive more double that amount. My question or questions are what do I now? What is the next step that I should take? Could I partner with a local real estate investor? Or should I use the credit to finally get my first deal?

Your advice is greatly appreciated.

Patrick Ellis · Answer

Daniel,

That's great that you secured some funding. Now you need to decide what kind of investing you want to pursue. Because each may have different requirements for funding.

Bigger Pockets is a great place to begin learning about the different investment strategies.

Good luck.

Patrick

Rosston Smith · Answer

1. Go listen to all the bigger pockets podcasts.2. Choose a vehicle3. Read 5 books about that specific vehicle.4. Network with people who are proficient in that vehicle.5. Take action. Profit. $$$

Daniel Gasca · Answer

Patrick,

Thank you for replying and my plan is to start with wholesaling and fix and flips.

Andrew Villasenor · Answer

Hello Daniel,

I also live in Dallas and am somewhat of a newbie to investing. I have purchased a few homes over the years and use to sell real estate in southern California, which is where I am originally from. I'm looking to get into buy and hold investing in the very near future. I'm here in the forums also wanting to meet some like minded individuals to share ideas and motivate each other. Let me know if you have any interest in meeting up sometime....

Good luck!

Andrew

Approved for a loan, whats the next step?

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