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Updated about 1 month ago on . Most recent reply

Funding for RAL purchase
I am wanting to purchase a turnkey RAL property and need help finding funding source for 10% of the project. How would you approach this, and who would I ask?
SBA 7a loan will be the other 90%. I need about $100,000.
Thanks for any suggestions or resources.
Most Popular Reply

Don Konipol
#5 All Forums Contributor
Lender
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More specifically, the majority of the “cheer leading” information you find concerning how ANYONE can purchase real property without “money, credit, or experience” is categorically untrue and put forth by people with a “bias”, usually something to sell. The rest is put forth by people with either a “hidden” agenda, or who really are clueless. Is it POSSIBLE for someone inexperienced with no capital to purchase a property and maintain a decent percentage of ownership? Well, yes it’s possible. Probably odds are less than winning $100 million in the super lottery, but someone, somewhere is doing it. Just as buying lottery tickets isn’t a good retirement funding strategy, spending time chasing a deal with no money and lacking experience and knowledge isn’t a good wealth building strategy.
- Don Konipol

Private Mortgage Financing Partners, LLC