Realtor, Contractor, 20k cash... What can I do?

[Worth Styles]

I'm looking for seasoned investors' advise...

I have been trying to figure out a way to get started investing in real estate for a while but have been unsuccessful. I'm a licensed realtor in the state of Virginia , I have the state's contractors license (I can get all the work done myself) and I have been loaned $20,000 by a family member.

I have contacted every investor friendly lender that lends in my state and most require that I...

1) have done at least 1 previous deal (which I haven't)

2) have good credit and a steady income (which I don't have either)

and the last one that doesn't require either, require that I put up 20% of the deal.

Example: 290K purchase price + 60k renovations = 350k total. So in this case, I have to bring $70,000 PLUS closing costs (which I don't have).

I'm looking to flip a property and I feel I have exhausted all my options. I'd greatly appreciate your help!

[Ben McMahon]

You got to partner up bro. It’s the only way to get started. My suggestion would be to find a deal and present it to another investor. Tell him you will do all the work, and if he makes more than 10% you get to keep the gravy. Or some arrangement like that. Once you make money for him on the first deal he will tell all his wealthy friends and they will all be up for that action.
Btw you can make money on the contracting, and the real estate transaction without any liability. There’s lots of ways to make money in this business, just got to get creative. If your the realtor and the contractor you don’t need to make much on the actual flip, you just need to keep the deals flowing. I’ve done it a bunch of different ways. 50/50 isn’t a bad option either. And lots of people will take that if they see the potential. Use your track record as agent and contractor to create a track record as an investor.