All Forum Posts by: David Yates
David Yates has started 13 posts and replied 52 times.
Post: How will I get funding for my first deal?
David YatesPosted
- Real Estate Investor
- Eagle Mountain, UT
- Posts 69
- Votes 5
Thank you Kevin and Ozzy for responding to my post. Since I don't have any cash and I don't know who I would partner with to get my first deal done, I'm interested in talking with you Ozzy since your first deal was accomplished with a similar situation as mine. What is a HML and is it my only option to get financing for my first flip? I'm confident I will find a good deal, but shouldn't I have funding in place first?
Post: How will I get funding for my first deal?
David YatesPosted
- Real Estate Investor
- Eagle Mountain, UT
- Posts 69
- Votes 5
Hi, I want to become a real estate investor and I know with the resources you have on your site, I will be a successful one. However, my financial house is not in order and I want to know how soon I can start pursuing my first house flip. The following are the concerns I have:
1. I have tried a couple of times to get a $3,000 personal loan from different financial institutions to consolidate my credit card debt and have been turned down each time
2. I filed bankruptcy in 2013 and have a credit score in the high 600's
3. I have a student loan of 250K that I'm not paying on because I'm on an income-based repayment plan and my income for 2016 will be around $22,500
4. I personally don't own a home
I know that one can close a deal with no money down, but will the above concerns impede me from getting started on my first deal immediately?
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