Contractor · Orlando, FL · Member since 2018 · 64 posts · 45 votes
I reached out to a lender and I was told I had to have capital of my own. I thought you didn’t have to have capital? He told me any lender is going to require me to have capital. He basically told me to save up some money and try again. It could take me a few years to save up that kind of money.
How the heck am I supposed to get started with no capital. People make it sound like people just hand over money to help with funding a deal but I’m just not finding that to be true.
Anyone have some real advice on this? Or am I just not looking in the right place for funding?
Help me get creative!
Investor · Tampa, FL · Member since 2011 · 2k+ posts · 3k+ votes
8y
You hit the nail on the head. Find the property, manage the rehab, deal with any and all headaches that will definitely arise. Be on site, make sure it goes smoothly, sign for everything. You will earn your 50%, and sometimes you should earn more depending on the project.
Time is the most valuable thing to most people who have money. Your value is giving them a return on their money without taking up their time.
Contractor · Orlando, FL · Member since 2018 · 64 posts · 45 votes
8y
@Account Closed
I totally hear you but i have heard of crazier things. Some of the stories I hear are straight from the BiggerPockets podcast. People do some risky stuff but turn out to get some high rewards.
I get it though. A lot of people dont want to take those kind of risks.