I am just getting started investing in the St. Louis area and am hoping to brrrr properties around the city. I am currently looking for funding, but don't think I'll qualify for a hard money loan due to lack of cash reserves. How can I get started without going this route?

Hi @Jake Coddington ,

If you don't have any money at all, you can try wholesaling.

If you have enough to fix a property but not buy it, you could try a zero down owner financed deal.

You should go to some local real estate meetups to meet some contacts who can give you many more ideas of how to finance stuff. Check meetup.com or the Bigger Pockets Events section under Networking.

@Jake Coddington figure out what you are bringing to the table and see if you can find a partner. Obviously you aren’t the money guy, but if you find a great deal, which BRRRRRs have to be, you can find someone to work it with you.  Local meetups are the place to find these people

You could consider house-hacking or a live-in flip if you're handy with rehab work. If you can cobble together enough money to put a downpayment on a run down 4-family then you can fix up each unit and re-finance to move on to the next one. You can get an FHA with <5% down so you'd only need to come up with $5-10k depending on where you're looking in the city. If you can't come up with $5k in the next 12 months you probably shouldn't be investing in anything.

The other route would be what Kyle suggested, find a partner. For a BRRRR deal to work you need a property, money, and rehab/time. If you don't have money, and I'm assuming you're not a contractor since you didn't mention it, then find "the deal" i.e. a motivated seller with a property that can be fixed up and then partner up with a contractor and/or money guy that you meet at a local meetup.

Thanks for the input! I'll definitely start looking for some local meet-ups to meet people. I should be able to pull together enough money for the FHA as well.