How to finance your first deal?

[Roger Jones]

Newbie here. Reading books, articles, and forums. But how the heck did you guys do your first deal? Especially if you don't have the 20% DP. Anyone have any financing advice or a companies that offer an investment mortgage for less than 20% down?

[Thomas S.]

The smartest approach to investing is to save up the money yourself for a DP. Money makes money and, contrary to the myths,  starting with nothing usually gets you no where.

Smart people adjust their life style, clear their debt, polish their credit scores and financially position them selves for success by mastering personal money management.

Investing in real estate should not be used as a path to clear debt, you need money to be a investor. Additionally probably the vast majority wanting to get into investing never do and a large number of those that will try ultimately fail. You will increase your odds of starting and succeeding by saving up the cash you need for a DB (and a reserve fund) before you even consider risking it all. Investing is a life commitment.

On the other hand you could try wholesaling, invest a few thousand, work your butt off for a year and only be farther in debt.