How did you finance your first deal?

[Brad Van Rassel]

Hey BP,

I'm getting started in the REI game and am wondering how everyone financed their first deal?

I know the “ideal” financing method likely depends on the specific deal, but I would like to get a better understanding of how most get started.

My partner has some deals under his belt and has relationships with some private lenders he’s used in the past and of course we have the typical options so we have some options in front of us. 

I wanted to hear from you guys if there are any “pro/cons” you see in financing your first deal in certain ways or good things to know when starting off since my next deal will be my first deal!

I know many may suggest house hacking, but I am in a unique situation where I live in a home owned by a family member where I basically pay “rent” that buys me equity in the home and I would like to continue this!

Thanks in advance for any advice and input!