Rental Property Investor · Altoona, PA · Member since 2020 · 22 posts · 4 votes
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)
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.
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.
@Lake I. What are your goals? What is your why for wanting to start investing in real estate? I feel as if answering these questions can give you a good understanding of which strategy to start out with. To answer your question more directly.. maybe you can start networking at local REI events and find another investor you can partner with. They bring the money and you bring the hustle and time.