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Updated over 1 year ago on . Most recent reply

User Stats

3
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3
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Zach McDougle
  • Gahanna, Oh
3
Votes |
3
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New investor needing to build capital

Zach McDougle
  • Gahanna, Oh
Posted

Hi, I'm new to real estate investing with no properties yet. 

I am most interested with the BRRRR strategy, which I know needs a large amount of upfront capital. I'm looking to invest in central Ohio and believe I will need roughly $120,000 - $150,000 in capital to execute a successful BRRRR. Currently, I have the vision to raise the capital on my own with no Lonas or creative financing. After 4 months of overtime, side gigs and putting every dollar away I can, I have under $10,000 saved up. At this current rate it looks like raising this much capital would take 3+ years.

I fully understand real estate investing is not a "get rich quick" scheme and good things take time but I am eager to get started as soon as possible. Also, central Ohio is set to boom in the next 3-5 years and I would hate to miss this opportunity.

Questions to the readers:

1. What type of job/ side gig should I consider to raise capital faster?

2. Should I consider getting into house flipping first and build capital through profits on the flips? 

3. Any other advice would be appreciated 

Thank you in advance for your suggestions. 
 

Most Popular Reply

User Stats

313
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572
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Austin McClain
  • Real Estate Agent
  • Ohio
572
Votes |
313
Posts
Austin McClain
  • Real Estate Agent
  • Ohio
Replied

I would find a good deal and show it to an investor and ask them to fund it. If you find a good deal and show that it will make money, it will would it easier to get funding. 

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