Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 6 months ago on . Most recent reply

User Stats

14
Posts
5
Votes
Jamal Moore
5
Votes |
14
Posts

Looking for recommendations

Jamal Moore
Posted

Hey guys , I am studying strategies on creative financing and how I can raise the capital for a down payment on my first rental property. I came across crowdfunding as a opinion and seen that GoFundMe is one of the biggest crowdfunding platforms. is this a good way  to raise the starting capital for my first rental property , if not what did you guys do for starting capital ? looking for recommendations and advice. thank you ! 

Most Popular Reply

User Stats

6,631
Posts
7,602
Votes
Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
7,602
Votes |
6,631
Posts
Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

No. That is not what GoFundMe is for. Right now, you are thinking of yourself and how to get you ahead and not stepping back and looking holistically at the process. Why would someone (a stranger) give you money for the downpayment on your first rental property? That's what crowd funding would do. There is nothing in it for them.

You should be going to real estate investing meetups as much as possible and networking with other investors. When you don't have money for a downpayment, you should not be trying to buy a home because no matter how you do it, you will be overleveraged and have no reserves for repairs, etc.

business profile image
Zen and the Art of Real Estate Investing
5.0 stars
9 Reviews

Loading replies...