Funding Projects

[Account Closed]

I am exploring different ways of funding my purchases. Because I do not have the working capital I was thinking of Hard Money. If I get a hard money loan, how does paying it off work, its it like a regular loan where I pay it off monthly? How would that work if I am trying to by a home to rent out?

What other options do I have to fund projects?

[James Vermillion]

Yasmine,

What can you do to save money while you are learning more about real estate investing? Getting started will be much easier if you have some funds. For many people looking to get started I recommend saving money and working on your credit before jumping into real estate investing, as it can ruin your personal finances if you are make a mistake. Additionally, I like to see people fully prepared before they make a poor investment out of inexperience and a lack of basic investing principles.

If I were you I would start by attending local real estate investing association meetings to learn more about your market and start networking with other investors. This will also give you time to learn more about financing, deal analysis, types of investing, risks, etc and increase your chance of long term success.