Financing fresh out of college
Hey guys, I know there are a lot of topics around regarding buying real estate with little to no money down (especially on Brandon Turner's blog), but I was wondering if someone who invested right out of college could help me see the light to how raised early on as a youngin? I know private money is a popular route, but when approaching family & friends, how exactly do you ask them to invest? Do you create a handout, power point? And how risky can using hard money be?
I have recently found a property that I am interested in investing in. I spoke with the seller and found that I can get it for roughly $60k. It is located in a popular area with houses in the same neighborhood valued $150-250k. After doing my research, I know I have sufficient ways to add value to this property over time (mainly due to its location, the house is in bad shape).
My biggest problem is I recently started my w9 full-time job, and finished college, so I don't have nearly the money required for a down payment and can't get a loan because I haven't built my credit yet.
Thanks, I look forward to hearing what you all have to say.
-Brett