How do I do my first deal with $0 in the bank?
Hey all,
I am trying to get started investing but I don't have much savings and I don't want to borrow from family. Should I wholesale? Hard money lender? HELP. I am very eager to get going. I've read and watched and listened to everything out there. I moved home to save money but want to house hack immediately. My market is small - population 7500 where I'm looking. Houses that are run down go for price between 10k and 30k. Seller's financing only covers so much, right? 6% of closing costs? (Tyrone, Pennsylvania)
Most Popular Reply
You could use a hard money lender if the pricing seems right and doesn't hurt your bottom line. You could also choose to partner with someone (or multiple people). A 203k loan may also be another route. There are a lot of ways to get the capital needed to close. Figure out what's best for you and go for it.