Challenging journey start

[Raymundo G.]

Hello everyone, I have a newbie question. I work on a W2, about a month ago I switch shifts and found my self with spare time  so I decide it to use it on something new and started reading about real estate investments. as I'm reading found it more excited. I really want to do these! I'm on stage two, but lenders don't take you seriously, or they ask for llc entity.

In order to start marketing I have to know where I'm going to get the money for the deals right? So I thought about setting a up a solo 401k, combined with my saving would be a start. (is not much any way) So I found out that you have to be a self employed to have a solo 401k besides setting up a llc and solo 401k would eat part of my savings. Did any body run in to these situation when starting? or I'm the only poor guy around here? :-) (I recently refinance my house to take advantage of the low interest, so cash out refi not an option, I have no family and no friends that can invest so not an option)

[Jon Reed]

How many banks have you talked with? Were they nation wide banks or local banks? 

Starting out is hard and you may have to talk to 20-30 different banks and sometimes even different lenders within a bank before you find someone who will give you the light of day. Don't get discourage, keep at it.