Just a Beginner looking for some advice
Hello to everyone!
Another first timer here in this forum and Real Estate field. Just trying to get started but as always happens with the begging have a few questions and concerns This might be asked here many time but every one situation is different just looking for advice.
I just close on 2 family property in Central New Jersey with FHA but have no cash flow as the Tanant's already pay low rent till the lease expires but anticipate to get it lit up and cash flowing.
One unit is renting and another where I stay with roommate.
I recently found and LLC and getting started moving ahead with Brrrr .
I have found another multi Family property cash only i the nearby and good for Brrrr.
I have enough cash for Down payment and renovation but not for purchase property.
I have income from other business also.
Do I have first find cash out lender to get pre approved and than move on?
Or I better get first pre approved for hard money to buy the property, renovate rent and than apply for long term financing?
Thanks