Finding a Funding Source to do a Real Estate Deal

[Leticia Montoya]

Hello BP! I am currently looking at acquiring a TriPlex in the Minneapolis area to do the BRRRR strategy. In theory I know how the BRRRR works but I would prefer not to use any of my money or my partners. I understand in the Network Tab, there are lenders existing there but I can really use your help outlining the process I should be aware of to make this happen. Should I be calling local banks or calling friends and family and should I do any of this prior to making an below market value offer? The property is listed for just under 200k and needs a good 50-60k in rehab.

Any help would be great!

Leticia

[Jordan Moorhead]

@Leticia Montoya I would work on your finances until you're able to start saving your own money. I personally would partner with someone who wanted to put in equal amounts of money but would never completely fund a project with someone with no experience and no money. I'd do a deal with someone who had either or but not neither.