Taking the Leap. All advice welcome!

[Chris Anderson]

Hi everybody! I'm Chris Anderson, a new investor in Florida. Been watching and learning from the sidelines through mentorships, watching BP podcasts, and now about to finish my education for my real estate licensure here in FL. I have been setting aside money to invest with and I have milestone goals set. I promised myself I'd check off the first one with buying my first property this year. Here goes nothin! 🥳

I am self employed and I've been setting aside money to invest with for the past couple years. I have about 10k liquid that I can comfortably deploy. My main stumbling block seems to be funding. I had initially planned to house hack starting in January this year but being self employed sort of stopped me doing that because I didn't show enough income to qualify for a conventional or FHA loans. Im aware that for investor loans typically I'd need to have 20% or more down. Tried wholesaling for a while to get the capital but seemed very counter intuitive since I was spending more money and time than I was making, just to gain traction and I was selling all of the good deals 🤷‍♂️

That said, does anybody have any tips on how to overcome this obstacle? 

I know there is a way because I've heard the stories about people getting started with less than I have. 🤔

[Rachel Jenkins]

Many of my clients will utilize hard money lenders like Easy Street Capital to fund their deals. This works for properties that need rehabs. They typically will lend 70% LTV. Once the rehab is complete you refi and that is where you will have your final out of pocket be minimal depending on the numbers. I have had clients complete a deal with $20k or less out of pocket once done.