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Updated almost 6 years ago on . Most recent reply
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How did you come up with the capital to fund your first deal?
For the longest time I really struggled with a creative way to come up with the capital I needed to purchase an investment property. I work a great IT job but with a wedding coming up and living in the DC area homes are not cheap (you can't buy a home in Arlington right now for less than $600k). I've finally decided to take out a personal line of credit to have capital readily available once I find that elusive first deal. I figure I can combine my money with another small investor's money and then use that to borrow an even larger amount of money from a private lender.
How did you come up with the money to do your first deal?
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This answer probably won't help in your case but here it is: About 25 years ago I received a promotion at my "day job" that included a company car. So, I sold my vehicle and that funded the down payment for my first rental property.