Starting Out - Best Practices in Securing Funding for Deals

[Phil Ciarrocchi]

What's up BP?!

I have begun my journey in real estate. Here's a little background to give you an idea where I am. 

I work the typical 9 to 5 and every spare time I have goes into finding and analysing deals. I read extensively on this forum and listen to many real estate discussions and books. I have friends that work full time as project managers for investors so I get to pick their brains as well. 

I am a member of my local REIA (ACRE) in Pittsburgh PA. Been going there for about 3 months now.

I have spoke to family about lending for deals and all who could have opted out so I have yet to do my first deal.

I have analysed about 200 plus properties so far for opportunities and have found many decent deals out there but very few that are great. 

I have found a great deal and now with struggling to find the financing. I'm looking for some advice on the best practices for securing funding for deals starting out.

All the help is greatly appreciated.

Thanks everybody!

Phil

[Stephanie Dobbs]

@Phil Ciarrocchi:

Hello, Mr. Ciarrocchi and welcome to BP! All I can say to help you is do not be discouraged from the family members that did not assist you with lending. A lot of time, it's based on the fact that they knew you since you were a kid, and don't see you as the adult that you are. My situation is the same, and so I have not even asked my family, but am waiting to prove to them that I can succeed with real estate. I am excited to succeed, and if you continue learning, reading and believe that you can succeed, then you will too. Remember, if you can conceive it and believe it, then you can achieve it! - Think and grow Rich

Happy learning!

Stephanie Dobbs