Looking for some help securing funding

8 Replies

Good morning,

I am new to bigger pockets.  I joined an investing group about 2 years ago and received little help or assistance.  I am a bit weary about this.

I do not have much money to put down and I know that most private lenders require 20% to 30 % down, is it possible to get private funding?  I am looking at a couple of duplexes here in my area that look to be good investments.  Hopefully some one will send in the right direction or give advice

MODERATOR:  NO LOAN OFFERS IN THIS THREAD, PLEASE.  ADVICE ONLY.

If you do not own a house and have a good enough FICO score to qualify for FHA loan then buy a duplex and move into one unit. Better yet, buy a fourplex and do the same thing. You will get excellent interest rate and low down payment.

Good luck,

George

Originally posted by @Shawn Kutsch :

Good morning,

I am new to bigger pockets.  I joined an investing group about 2 years ago and received little help or assistance.  I am a bit weary about this.

I do not have much money to put down and I know that most private lenders require 20% to 30 % down, is it possible to get private funding?  I am looking at a couple of duplexes here in my area that look to be good investments.  Hopefully some one will send in the right direction or give advice

 HEllo and welcome!  Look for Owner Financing to try and keep your down payment as low as possible.  Just be careful and know what that market will support.  I am 59 years old and am a college graduate and a broker licensed guy since 1980.  I grew up in Dallas, Texas and lived a pretty wild life.  I have been in the construction business since I was 17 years old.  If you think I could help you with anything don't hesitate to contact me.  I found BP about 3 months ago and lousy about learning all I can.  Good luck to you!

You'll find a lot of resources on the BP website about getting private money,  O top of that, you might want to look at getting a pre-owned copy of the old carlton sheets stuff about getting houses with no money down (ebay?).  I bought several using his methods.  Another good resource (from your area) would be to get the book 'Are you Dumb Enough to be Rich' by Bill Barnett.  Bought several using his methods in that book.  It can be done, it's just a mindset you have to develop and a certain process you have to follow.  Good luck!  :)