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Updated almost 2 years ago, 12/10/2022

User Stats

6
Posts
3
Votes
Abel Casillas
3
Votes |
6
Posts

First time investor in need of funding advice

Abel Casillas
Posted

Hello bigger pockets community.

Here's a bit of background. I am 25 years old father from southern CA (father= reference free time ; southern CA = not probable to invest locally). I have never bought a house and I'm in a position to finally start saving money. I have a property I want to BRRRR in Texas. I have a hard money lender on board. I need to put up 20% and pay for the closing costs and fees so total about $30k out of pocket. I do not have $30K I could save up and try in to begin in a year or 2. I would rather buy now than since the competition seems to have slowed down.

Does anyone have a creative solution as to how I can come up with the money. I am interested in having a long term investment, I may be breaking even or have a slight loss depending on the rent but I consider having an asset paid off a win. I hope im not being naive and making a decision that can ruin me.

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