Where do you find LEGIT partners to fund capital?

Question

There are way too many scam artists out there claiming to be legit people to fund money for real estate investing. I do not have family and friends to rely on to get capital I need for real estate investing. I hear many talk about the risks and cons to buying rental properties. Is investing in rental properties still worth it despite what some people may say about it? I would like to buy my very first rental property some day, I just need the funds on standby to do so whenever I need it. My credit score is good. That's one plus.

Jay Hinrichs · Answer

Tony your correct there are all sorts of scammers looking to beat you out of 500 to 1000 dollars up front to lead you to believe they will fund a deal for you..  the simple reality is real estate takes  3 things..   CASH for downpayments or to pay cash for the asset..  Credit to borrow mortgage money and INCOME to pay it back.. rents don't always come in.. so lenders don't rely totally on cash flow of the asset to get repaid..   one thing that is cheap and you may want to do is get a real estate license.. you can work for a PM renting up all those rentals in that area.. you can get commisisons selling houses.. you can do it part time. to supplement your income but you will get a TRUE education in YOUR market and how your MARKET works.. not all markets work the same

Mindy Jensen · Answer

@Tony Marcelle, you don't need funds on standby. If you've got a good credit score, start saving up now for the down payment and get a traditional mortgage. Double down with a house hack and get a lower down payment AND lower interest rate by owner occupying a small multi family.

BiggerPockets has lots of perks for our members, including discounts with lenders.

Tony Marcelle · Answer

Is it true that a person should not get a license if their main goal is to be a wholesaler? Someone brought that up in an older post here on BP.

Jay Hinrichs · Answer

knowing B ham and Bessemer as I do I suspect a good leasing agent would make 2 to 4k easy a month part time. you normally make half the first months rent.. you need a license for it though..

Tony Marcelle · Answer

That is starting to look like my only option because I really need to supplement my income.

Where do you find LEGIT partners to fund capital?

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