Getting loans as a first time investor

2 Replies

How hard is it for a 1st time investor to get a loan for flips and buy and hold. I know if I had a good deal that makes sense can open doors for me. I probably just answered my own question, but I want to know more...line the pre approval processes for an unconventional loan (hard money or private loans). Any suggestions on books or advice definitely helps. I plan on making some moves by the end of the month. I’m starting out slow but I want to be as knowledgeable as possible before I take step 1. And yes I’m going to avoid the dreaded analysis paralysis!

Jason, most hard money lenders will rewquiere you to have skin in the game... in other words experience and/or a 10-20% down payment of the LTV.

Other than that, lenders are sales agents, if you can sell them on your willingness to succeed, without money or good credit, you can get a yes. 

hope this helps!

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