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Updated almost 7 years ago on . Most recent reply

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85
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Paul LaSpina
  • Specialist
  • Manhattan, NY
12
Votes |
85
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Is it Possible? Investing in Multi family/Commercial with NO $$$

Paul LaSpina
  • Specialist
  • Manhattan, NY
Posted

As a brand New investor with NO track record and Not much $$ to talk about is it Really possible to find a deal, find the funding for a deal and close?

Don't private lenders want some $$ protection for funding Newbies? Don't they want to know they are dealing with someone with experience?

From what I've been hearing and learning you need one or the other or both to be considered for funding?

Any advice?

Paul

Most Popular Reply

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2,953
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Alexander Felice
Pro Member
  • Guy with Great Hair
  • Austin, TX
4,475
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2,953
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Alexander Felice
Pro Member
  • Guy with Great Hair
  • Austin, TX
Replied

When you need someone else to provide the money, and the experience, and find the deal, they have zero incentive to include you.

Yes lenders want to deal with someone who has experience, and EVERYONE wants to do business with partners who have skin in the game.

What you're asking is if it's possible to climb mount Everest. Yes, it's super possible.

While you're trying to put this together, spend every waking moment learning how this process and system works. Network actively with people who do this,  Start analyzing deals all the time, save every penny you can. This is how you shore up your weak points and create more value for yourself so maybe someone will bring you into a deal.

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