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Updated almost 6 years ago on . Most recent reply

User Stats

58
Posts
14
Votes
Dave P.
  • Rental Property Investor
  • Massachusetts
14
Votes |
58
Posts

Secure Financing First or Find Property first?

Dave P.
  • Rental Property Investor
  • Massachusetts
Posted

I have a goal this year of securing a 5-9 unit property in the Central MA area. i currently own a 3 unit and relatively new as an investor but am motivated. I am a member of 3 real estate meetup groups and listen to BP podcast when I can in order to raise my real estate IQ. I am slowly learning about creative financing. I have been reading Brandon Turner's book about the subject. i am trying to forge relationships with those who are willing to to do a deal with me and I'm learning how to speak to others about such a deal ie. lending me money with returned money and interest to them. 

Here's my question, do I find my ideal property first and then secure financing or is it the other way around? I think common sense says get the financing in order but I have also heard otherwise. Feedback is appreciated.     

Most Popular Reply

User Stats

1,007
Posts
594
Votes
Brandon Ingegneri
  • Rental Property Investor
  • Providence, RI
594
Votes |
1,007
Posts
Brandon Ingegneri
  • Rental Property Investor
  • Providence, RI
Replied

I think that you should be actively looking for deals and ways of financing.  Having said that, there is no point in lining up firm financing when you don't have a deal on the books.  Keep the irons in the fire on both ends, that way you aren't coming out of left field when its time to pull the trigger.  Lay the ground work.  

  • Brandon Ingegneri
  • [email protected]
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