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Updated about 4 years ago,
How can I get funding as a startup?
Hello,
This is my first post on bigger pockets! I have been reading around on the forums for a few weeks now, learning and digesting as much information as I can. My question I would like to ask now is about funding as a startup. Here's a Little about me and where I am at so far.
I currently am in the East Bay in California. I do not have any background in real estate. I have been in the car business for 6 years and I am tired of helping make other people wealthy. I am business minded and a problem solver. I have a friend I have known for a long time, Since we were kids building porches and fences as a summer business, that I am starting a real estate business with. He has 5 years of construction in his background. We want to get into real estate and build our own wealth. We sat down and created a business plan. We have been researching this line of work for 4 months. We are tired of being in the research phase. We created an LLC, and want to get started. Our main problem we have been having is getting off the ground. Unfortunately we both don't come from backgrounds that have led us to having a substantial savings account. Between us we have 5k and a dream. We don't own any property, we both rent. So we don't have any equity we can leverage. I have been talking to anyone I know trying to secure some capitol and was able to find one investor that I can't get around 20k from. The market we are in though is pretty expensive. We will be investing in both the bay area and the central valley.
My question is where else I should be looking to secure the capitol we need to get started? There are plenty of internet "gurus" who would be happy to take our money for their help. Really trying to avoid that route. Thank you for your advice!