All Forum Posts by: John Tyler

Thanks for the advice Eric! I didn't realize there were so many extra fees. I'll have to continue researching and saving.

Thank you, Nick! That's exactly the kind of info I was looking for! In order to find a hard money lender, should I ask agents, banks, other investors, or all of the above?

Sorry, but 12K is really not enough to do much with, except put a down payment on a 50K house. And after that, I would have little left for rehab. Also, considering closing costs, I most likely would have to find a house less than 50K. So I need to find a lender that will invest in a property that needs some rehab and after the proper seasoning period, refinance with a bank to get the lender their money back. The 12K might be enough for repairs on a rehab, so 0% down from a lender would be ideal.

So the question this discussion originally poses is "How to Attract Financial Investors?" I can work out the finer details later. Right now I would appreciate advice of where to find lenders, how to start a relationship with the lender, legalities of said relationship, and the best way to go about presenting a potential deal. Thank you.

@Chris Purcell

I am currently renting in the Miami downtown area. I just signed a new lease, but i do plan to purchase a house before the expiration of said lease. I plan to go with the house hacking strategy, but the problem I face is finding affordable housing. Without a lender, I won't be able to afford even the cheapest houses in the area.

In order to attract a lender's attention, would you suggest presenting them with a spreadsheet of the expenses, profits, and plans for the property?

I've only got about $12,000 in savings at the moment. I'm trying to budget as much as possible, though. Thanks for the advice!

Thanks for the info, Joel. I'll definitely run the numbers on the properties before presenting them to potential investors. My next concern lies in where to find these investors (on Bigger Pockets and other places) and how do I go about building a relationship with them so that they know I'm trustworthy? 

So, I've been browsing the MLS for some weeks, now. I've viewed some decent deals and some great deals, but there's a common trend: I don't have enough money for these deals! I'm curious to hear how the BP community goes about finding and building relationships with individuals that can fund deals. I have a deal right now that I want to jump on, but without the cash, it's simply impossible. I would be more than thrilled to hear from the community about your strategies for finding lenders. THANKS!

Thanks for the welcome. Great book; I read it twice. Do you have any other great books you would recommend?

Hi, I'm quite new to the BiggerPockets community and real estate investing, in general. I've been listening to the podcasts and webinars, and I hear over and over that I need to "build relationships," "make friends," and "bring value." I'm hoping to do just that with this forum.

About me.

I'm currently living in downtown Miami, FL as a sushi chef. I grew up in Fayetteville, AR, but had to get to an ocean; hence the Miami move. I've been studying real estate for the past several months, i.e. reading books, podcasts, networking. And I feel as though I have a semisolid grip on how to go about purchasing my first property. I've been searching sites like Trulia and Zillow and speaking to real estate agents from my hometown about properties to invest in. The largest hurdle I face, at the moment, is funding the deals I find. Other than that, I'm willing to work hard to find deals and not only make myself money, but make money for those that help me. I hold one of the highest convictions of supporting those that support me.

So let's get to know one another. I would love to hear about your experiences, dreams, struggles, and literally anything else (real estate or not). And please leave the small talk to a minimum. I legitimately want to know the real you. Looking forward to meeting new people!