Start up money for a newbie investor
Hi can anyone give me some solid tips on how I can get the start up funds for my first property? I was thinking hard money lender but I would have to come up with like 30,000 then I was thinking maybe flip some houses to get the money. I don’t know where else to turn any advice would be appreciated.
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@Ajeenah Wilkins if you don't have much money, attempting to flip a house might not be your best first step. Wholesaling could be a good way to get your feet wet, but you also have to be careful there and make sure you have an out and you aren't stuck actually closing on the property if you don't have the funds.
Another option would be to partner with another investor to learn the ropes. Maybe invest what you have and get a small return, or negotiate a cut of the deal if you do a good chunk of the work. Try to get creative so you don't have to risk it all and you also get to learn the business while you earn.