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Updated over 8 years ago,
Raising Money for a Beginner
Hello everyone,
I'm 27 yrs old and fairly new to this real estate game, but I love it and cant get enough. I own one buy and hold property in Grand Rapids, MI. I have a full time job in south florida that I love, but my ultimate goal is to become financially free with the passive income from my buy and hold properties. I want to start doing real estate full time in order to grow my portfolio, but would need to raise money in order to do that. Also, if I go this route, I will need enough cash flow coming in from real estate to support my family.
I have natural hesitations of quitting my job and jumping head first into real estate with very little cash. I was interested to hear of others stories with a similar scenario and how they were able to get a quick start with no money? I'm open to more strategies outside of buy and hold to acquire additional cash, but ultimately I want to rely on the passive income from my buy and hold properties long term.
Grand Rapids is/has been a great market, but I am open to other markets and/or different strategies as well. Wholesaling seems intriguing, but I know it's not as glamorous as some make it look.
Any input would be extremely beneficial. Thanks in advance!