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Caleb Griffin
  • Real Estate Agent
  • Lewisville, NC
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118
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Help buying first deal with full-time job and no money down

Caleb Griffin
  • Real Estate Agent
  • Lewisville, NC
Posted Aug 11 2015, 15:45

Hello BP Community!

I'll jump right in: I would like my first deal to be a duplex/triplex (or even 4-plex) that I can use an FHA loan to purchase, and live in one unit while I rent the others out. I would like to use OPM for the down payment, so that going forward it might be easier to get others to invest in me. I am 22 years old and I have a 50+ hour/week job.

Finding investors on a first deal is not the easiest thing in the world. But what I'm struggling to understand is, once I find investors, how do I manage to pay them back, plus interest, in a relatively short time period? How does that even work, or how has it worked for you on your first deals? I have many other questions, but I wanted to throw this one out first. Help a newbie out! Thanks!

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