Beginning in North Carolina

[Joshua Vilchis]

Hello everyone,

I am looking to get into real estate investing in the North Carolina area. At the moment, I am working on getting capital to go towards a down payment for a duplex/triplex in the area. This has been the biggest struggle for me at the moment for a number of reasons. I am not letting it bog me down though, and I am focusing getting on as much as I can at a time.

In my search to find out some good ways to gain capital, I have come across these ideas:

1) Just raise it yourself. Take the time and have some patience/Selling stuff that I own until I get the money.

2) I don't own a home, but I do have family members that may be able to do something with a "HELOC" (Something I Just learned about but I am looking into more)

3) Does anyone else have any better/different suggestions?

My biggest problem is that it is going to take time to raise the typical 10%-20% down payment needed for a loan. I believe that I will not have problems actually qualifying for the loan, but I want to get started as soon as I can. Any hints/suggestions are welcome, as for now, I am telling myself "not to try and run before I can walk"; if I just need to take the time to save up the money for a year, then just do it and be patient.

thank you

[Pat Lulewicz]

@Joshua Vilchis

@Joshua VilchisOriginally bank wasn't going to approve the loan because i did not have landlord or investor experience. Complained about it to my cousin during a holiday and he had been thinking about real estate for a while. It was a done deal after that conversation. We pooled our money into a joint checking account and off we went buying 2 properties in 2 months. We're riding about a 14% ROI after 1 yr and 3 months, and very happy with how its gone. Not planning to change that dynamic anytime soon.

Since then, I moved from IL to NC and have branched out to invest on my own as he does the same. We also help fund each others' short-term deals like BRRRRs or flips. We are always looking for something to invest in together if it makes sense; its just a cash flow/availability decision that we approach case-by-case.