Updated about 6 years ago on . Most recent reply
Investing Questions in Oklahoma City
Hey, everyone!
I'm new to the world of investing and have a lot of questions. That being said, I have purchased a few BP books and have been absorbing as much podcast info from BP, Savvy Radio and Youtube.
At this time my wife and I have an awesome realtor who's showing us potential BRRRR options, and I'm getting involved with the local real estate group. I'm looking at different hard money lenders right now as we don't have 20% capitol saved up to drop.
Does anyone have experience with specific HM options, partnering with new investors or other ideas for raising capitol to buy and hold in OKC?
Most Popular Reply
@Anthony W. thank you for the mention!!
@Josh Doering Happy to connect!
I'd avoid HM if you're BRRRRing in OKC right now. The numbers are typically too tight at this stage in the market to justify the risk. It might be a little radical, but house hacking might be the best first step. You can lock down a property a year for 5% down, get a few under your belt and use everything you save/cash flow doing that to build up savings for the 20% down. Also, developing a small stable portfolio will cause commercial banks to have more interest in helping you BRRRR once you do have the 20%!