Hello Everyone!

I own and operate my own wholesale business. Luckily, I have had an overwhelming influx of investors with huge appetites for multi-units in Paterson and Newark NJ. However, I am experiencing a shortage of inventory due to my inability to run a more fruitful marketing champaign. Consequently, business is slowing down tremendously. As an immediate resolution I made a marketing plan of act and im exploring the idea of taking on a partner/investor.

I am 24 years old and recently out of college with a lot of student loan debt--- No bank loans. Im trying to stick to real estate and focus on my Investment career rather than settle for a job (I think it will pay off in the long run).

Does anyone have advise on how i should go about finding funding to re-launch my marketing champaign?

1) Credit cards

2) Personal loan (some banks and credit unions still do these)

3) Get a second job

4) Peer to peer lending

5) Sell some things you own

6) Cut back expenses as much as possible

@Lauryn Drew  Welcome to BP.

Focus on the low-cost marketing approaches such as:

driving for dollars

Craigslist ads

knocking on doors

etc.

Hi @Lauryn Drew  , how much funding are you looking for? I'm running my marketing campaign from my home office w/ laptop, printer, and stamps.com. Driving for dollars is relatively cheap. You could speak to one of your better buyers about teaming up. Tell EVERYONE that you know that you are looking for properties and give them your card.

If you are looking for a serious business loan, write a business plan. There should be plenty of info here for that.

If you have a viable plan, but don't want to go through with a complete "business plan", you could try crowd funding, like kickstarter.

Keep at it!

@Michael Lemieux I currently market using direct mail, bandit signs and online. All are effective but my budget is running low. I usually get 0-1 properties per month under contract. Im looking for 3k-5k over six months to add new creative marketing techniques and meet my goal of 2+ properties per month.

I hate having to take a loan for this but i need to act fast and i know the inventory will move. I was leaning toward using an HML in exchange for a percentage of each deal for the duration of our partnership... Does that sound to far fetched? Crowd funding sound like a good option as well....

Perhaps bringing in a partner would help, especially if you find a great deal you can use their money to flip it or even hold it.

I was leaning toward using an HML in exchange for a percentage of each deal for the duration of our partnership... Does that sound to far fetched? Crowd funding sound like a good option as well....

Unfortunately yes, this is far fetched. HMLs are asset based lenders. If you own a free and clear property, or a property with enough equity to get cash out you might be able to get a hard money loan using that property. But its very unlikely a HML will give you an unsecured loan based on the promise of a cut of a deal.

Originally posted by @Lauryn Drew:

Hello Everyone!

I own and operate my own wholesale business. Luckily, I have had an overwhelming influx of investors with huge appetites for multi-units in Paterson and Newark NJ. However, I am experiencing a shortage of inventory due to my inability to run a more fruitful marketing champaign. Consequently, business is slowing down tremendously. As an immediate resolution I made a marketing plan of act and im exploring the idea of taking on a partner/investor.

I am 24 years old and recently out of college with a lot of student loan debt--- No bank loans. Im trying to stick to real estate and focus on my Investment career rather than settle for a job (I think it will pay off in the long run).

Does anyone have advise on how i should go about finding funding to re-launch my marketing champaign?

Hi Lauren,

If you have not listened to BP Podcast #29 check it out, it is a great episode with Dawn  Anastasi, she listed unconventional financing options.

Great Podcast!

Jameen

Hi @Lauryn Drew  

I just found this thread and was curious if you had found a lending strategy for your Marketing / Promotions ?  

I am actually looking myself and in the process of putting a creative funding request package together $10k - $30K. Any input or advise would be appreciated.