Hello all,

This is my first post on the forum. I am a new investor looking for my first deal. My goal is to build equity over the next 10-15 years in an effort to create some additional cash flow for my wife and I as we approach retirement. We are currently 50 years old so we are getting into the game a little late. Understanding that real estate is not a get rich quick game and that wealth is built over time, I am looking to buy properties that have value add potential to help kick start that equity building process. If I buy turnkey properties in my market of Omaha, Nebraska, I am looking at breakeven cash flow after all expenses and cap ex are factored in. This is fine with me as cash flow is not my #1 driver, but that also means I will be relying on my own savings to put myself in a position for future properties. The Brrrr method is looking like a strong strategy for me and am considering using Hard Money lending as a good way to get started.

So, I am looking for anyone who is willing to share their thoughts on hard money lending and what all I need to consider as part of my underwriting as I evaluate offers. I used to own my own remodeling company so I can do a lot of the work myself, but I also have a full-time job so I realize my effort will need to be supplemented with other contractors. My credit score, average between the 3 sources, is 811 with 791 being the lowest. My wife and my net worth currently is about $1 million. If there are any lenders willing to discuss options or if anyone has thoughts on the subject, I would love to hear your ideas as I work towards my first deal.

Thanks