Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

18
Posts
2
Votes
Michael Caro
  • Flipper/Rehabber
  • Redlands, CA
2
Votes |
18
Posts

Need motivation/ early on struggles

Michael Caro
  • Flipper/Rehabber
  • Redlands, CA
Posted

Hey BP community I need some help. I'm a 20 year old new investor who is trying to complete his first deal. I have a solid wholesaler in Philadelphia and I also have a HML who will cover 90% of the deal. I was planning on using a PLOC to fund the initial 10%. I just went to my bank(longest account with them) and I didn't get qualified. While making 2k per month it seems like my best option is to wait until I either make more money or until I have that 10% saved.

Really got a lot of work/information put into this industry and while I have almost every other part, I don’t have the 10%. Really bumped out because I recently had a great amount of success with systems I have breaking down deals, networking to build team members, etc and don’t really know what do to do.

The properties range from 50k-150k so the 10% will obviously change. Any tips or things to help me stay motivated would be great.

Loading replies...