Financing my first deal in Utah

11 Replies

Hey I am new to real estate investing but I really want to get my feet wet and do my first deal.  I have a goal to start looking for my first deal in January and i want to do a small single family home fix and flip.  My problem is figuring out how to finance it (I have no money, but good credit).  I have read about all the different ways of how to do it but I need someone that lives in Utah to guide me in the right direction on how to do this, and how to find lender locally. Any help and advise would help at this point.  I just need help outside of books.

@Barrett Anderson  it sounds like your goal should not be the first deal, but a strategy to build a strong foundation that will support you past purchasing the first deal.

Hello Barrett,

Welcome to BP and just do some a lot of reading on this site and in a matter of months you'll more then you imagined.  This site is awesome for anything real estate investement.

Take care, have fun and good luck.

Barrett,

Let me know if you would like to do some local networking.

Rich

Hello there I'm currently in Southern California myself, but I've been looking into Utah as a place to start due to the low costs. I do have family and friends in Utah also. I'm new but I have a ton of construction experience as well as some money and good credit. Maybe we can build a relationship and partner up.

Welcome to BP!

Josh

Do you have any kind of construction or rehab experience? What is your background? I would assume you are looking at private lending or hard money. 

Yeah I have been looking into both private lending or hard money.  Im not too sure how to find the private lender.  I have a relative that I may be able to help me out but I want to be able to have other ways of getting money.  I think once I get my first flip done and if I get a good profit on it I should be able to find money a little easier because ill have proof that I know what I'm doing. 

I have a little bit of rehab experience but not a ton.  Im looking at doing the basic stuff my self (molding, painting and other basic finishes) and having subs come do the stuff I cant do or don't want to spend the time doing such as floors and counter tops.  My first few flips I hope to be very basic and cosmetic nothing structural.  

I also have a little bit of business background, I own and operate a small window washing company.

Thanks for all the replies!

if you need some help on rehab advise, I've done many and would be glad to help you out.

Welcome @Barrett Anderson .  Hard money lenders are not that hard to find if the deal is good; however, you will need some of your own money in the deal.  Another way to move forward if you have no money would be to partner with someone.    And as mentioned reading Brandon's book would be a great idea.

Yeah thats next on my list of books to read.  Im reading J Scotts flipping book right now. 

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