How much money do you need when starting out?

[Stephanie Ford]

In my experience, I would say as much as possible.  When I started I had $100,000, however I didn't think that was nearly enough so I decided to wholesale properties vs keeping them.  What I found out quickly that hard money lenders didn't want to loan to you if you didn't have experience.  And the ones that did wanted you to put down so much money that it didn't make much sense to let go so much capital to make a down payment on a property.  I know this conversation will go both ways on which way is best.  I decided to wholesale vs buy and holding to raise capital in get myself in a better position later on to have better options.  In 12 months I profited $225,000 from my wholesaling and flipping.  Some properties where straight out wholesales whereas others were prehabs where I fixed the property up just enough to resale it to another investor.  This came easy for me being in construction and real estate because I knew what the typical end investor was looking for.  Most new investors don't want to take on a lot of heavy lifting because it scares them away.  So I took that pressure away from them.  This money I made gave me options and that's what you want being a new investor in this business.

Sincerely,

Stephanie J Ford AKA Shevestor