I am new to this community and real estate investing. I am interested in securing funding for a foreclosure/rehab with a lg profit margin. Where do I start?
Welcome to BiggerPockets, @Carreen Rush
There are a lot of options for funding. My favorite is a mortgage, but you probably already know about that type of funding!
Private Money Lenders are people you already know. Friends, family, etc. Or their friends, family, etc.
Hard Money Lenders are people who make loans at higher interest rates, but there are less qualifications than a mortgage.
Do you have experience? If you don't, consider partnering with someone who does. 50% of a deal is better than 100% of no deal.
Thanks, Mindy! I have taken quite a few courses and realized very quickly that I needed a partner... or two. So I am partnering with my real estate broker and contractor who have both been very helpful. This is my first purchase and flip so am working through my learning curve...
Good Call @Mindy Jensen
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