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Updated about 8 years ago on . Most recent reply

User Stats

57
Posts
22
Votes
Gina C.
  • Remote
22
Votes |
57
Posts

Funding or Deal? HELP!!

Gina C.
  • Remote
Posted
Hi guys, I know you've probably gotten this question a million times, but seriously when it comes to RE investing, should I secure the funding first, or the deal? I ask because I remember in one of the BP podcasts they mentioned you should have the funding first, and then worry about deals. But then I think in a different BP podcast someone said you should have the deal first or else HMLs won't even look at you (as a newbie). I've experienced this on both ends: I call HMLs and one of the first questions they'll ask is "do you have a deal?" Which of course, I do not yet. And anytime I try to reach out to RAs on Zillow about properties they almost NEVER respond (and I'll call/text/leave VMs, everything!), or when they do it's just to tell me that the property is no longer available. I reached out on BP and so far there's a lot of people willing to give me advice, but for the most part when I'm scouting around for deals or HMLs, the HMLs tell me that they only work with experienced investors, and so far the people I've reached out to in my area (Newark) about deals haven't responded. It just feels like it's a never ending loop where no one is taking me seriously. How can I get in? Am I doing something wrong or missing a step? I want so badly to be one of those members posting in the "success stories" forums. I evaluate deals, I run the numbers and I've only been following up on deals that would make sense (cents) and cash flow for me, but it's like I can't even...get in! I'm determined to at least have my first physical property before 2018, but it's extremely frustrating when you feel like you're doing the right things and yet...nothing. Any help/advice would be greatly appreciated. Thanks guys

Most Popular Reply

User Stats

1,466
Posts
947
Votes
John Hickey
  • Rental Property Investor
  • Chappaqua, NY
947
Votes |
1,466
Posts
John Hickey
  • Rental Property Investor
  • Chappaqua, NY
Replied

Gina Clarke get 1000 no's and keep going. I would look for both HML and deals.

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