Montgomery, AL · Member since 2016 · 3 posts · 0 votes
I realize that most everyone already had capital for investing; however, I am not blessed with this situation. I have a business plan and an idea but I don't have enough capital for investing. What resources are available for a proposed start-up company? I am familiar with the traditional route (i.e. banks) but if this doesn't pan out what are some alternatives? Any suggestions would be extremely helpful.
What are you trying to accomplish? Fix and flip? Rental properties? In real estate, money is always a necessity whether it be your own or somebody else's. You can try wholesaling as that is a proposition that requires little to no money to get started. Your best bet would probably be house hacking as you can try for down payment assistance and use an FHA loan to put only 3.5% down to get into a place and then live in it and rent it out if you get a duplex, triplex, fourplex, or rent out the other rooms of an SFR.
Bob Okenwa Than you for your reply! I'm looking to launch a start-up real estate investment company specializing in acquiring distressed properties that are either sale-ready or require light to moderate rehabilitation. I would like to flip them if possible or rent and eventually sell. My primary problem is that I don't have nearly enough capital for initial operations. I am curious as to what resources some of the more experienced investors can point me to. I will definitely research the two methods you mentioned in your post. Lastly, if you don't mind sharing what resources you utilize to scout potentially good investment properties and what resources do you use to market those properties successfully? Thank you so much for your help!
@Bob Okenwa Than you for your reply! I'm looking to launch a start-up real estate investment company specializing in acquiring distressed properties that are either sale-ready or require light to moderate rehabilitation. I would like to flip them if possible or rent and eventually sell. My primary problem is that I don't have nearly enough capital for initial operations. I am curious as to what resources some of the more experienced investors can point me to. I will definitely research the two methods you mentioned in your post. Lastly, if you don't mind sharing what resources you utilize to scout potentially good investment properties and what resources do you use to market those properties successfully? Thank you so much for your help!
If you're looking to rent, you're going to want to research the area thoroughly to make sure it's a worthwhile area. Look for demographics such as median income and crime rate and utilize tools such as the Rental Calculator here on BP. I personally like to create my own spreadsheets but the ones here are superb nonetheless.
Having a great real estate agent should take care of the marketing of properties for sale and if you choose to go property management, they should market your property and place tenants for you.