Funding for my first investment property while being a entrepreneur

[Jae Jarmon]

I found a multi family four unit asking price is $224,900 and I had my realtor ask them if they would take $160,000 they said yes. Awesome right... One of the units is completely gutted they started a remodel and decided not to finish it. They have most of the materials in the unit already so I won't have to buy much. But this is actually the good part the issue is funding. I have tried to get funding and it is not as easy as all these podcast and youtube videos say it is especially for an entrepreneur. Why are there so many fake private money lending companies out here it's ridiculous honestly. When you are new people just want to take advantage of you and I do not like it. Any who my question is do anyone know any private lenders or hard money lenders or angel investors that would like to help a newbie get started? Thanks for listening 

[Chris Seveney]

Quote from @Jae Jarmon:

I found a multi family four unit asking price is $224,900 and I had my realtor ask them if they would take $160,000 they said yes. Awesome right... One of the units is completely gutted they started a remodel and decided not to finish it. They have most of the materials in the unit already so I won't have to buy much. But this is actually the good part the issue is funding. I have tried to get funding and it is not as easy as all these podcast and youtube videos say it is especially for an entrepreneur. Why are there so many fake private money lending companies out here it's ridiculous honestly. When you are new people just want to take advantage of you and I do not like it. Any who my question is do anyone know any private lenders or hard money lenders or angel investors that would like to help a newbie get started? Thanks for listening 

 Money is VERY DIFFICULT to come by these days. You are correct everyone makes it sound as easy as going to the store and buying a loaf of bread. If you do not have 30% down in today environment it will not be easy. Of course you will also find the "get the seller to finance the property" but again that is less than 1% of all sales so that is difficult as well. 

The money you do find (especially if you are new) you are going to pay an arm and a leg for. We recently lent at 13.5% and 3 points - to give an idea. 

A good start to find lenders is Scotsman Guide or AAPL.