Funding my First Duplex

[Nia Booker]

Hey everyone! I'm excited about buying my first home as I pursue a duplex here in Houston to launch my real estate journey. I've listened to many of Dave Myer's webinars now that walk through Finding Deals, Analyzing Deals and Funding Deals. Well, as he stated, it's the funding phase that becomes more tricky. I'm exploring different funding options and would love advice on using other people's money (OPM), leveraging business credit, or possibly borrowing against my 401k to keep more of my liquid cash. What strategies have worked for you, and what should I watch out for? Thanks in advance for your insights!

[Nia Booker]

Quote from @Wale Lawal:

@Nia Booker

Real estate investors can use various funding options, such as Other People's Money (OPM), hard money loans, seller financing, business credit leveraging, and borrowing against a 401k. Private investors offer profits or fixed returns, while hard money loans are short-term loans. Seller financing is beneficial for deferring taxes or steady income. Avoid over-leveraging, have a clear exit strategy, and consult with a real estate agent, attorney and tax professional.

Good luck!

These are all great options, I’m sure some may better support beginners like myself while others should be considered after more experience. Thank you for sharing!