The Chicken or The Egg?

[Leonard B.]

What Comes First? The Deal or The Money?

Hey, Team BP.

I’m Leonard. New to BP. New to investing. Not one (1) deal closed to date.

During a recent webinar for us “Newbies”, a member asked Brandon Turner from a Newbie’s position, “What do I need first? The deal or the money to get started?”

Some think they need the money first so they’re ready for a deal when it presents. But…how long can you go between having the financing sit idle and finding that deal and vice versa…? I’m sure the approved loan package with amounts and terms has a shelf life like most things. That’s where I am personally right now; and why I turned to the BP forums for educational/informational purposes. Your thoughts…?

Standing by,

Leonard

By the way,

My initial goal: Stop paying rent! The spouse and I are renting since we moved to Georgetown, TX from ATL. I want to start by buying/house hacking/holding a 2-4 unit property with garage in A/B neighborhood for starters then build portfolio from there.