Looking for advice on finding Funding for first investment?

[Alexander Hammond]

Hello,

These past 3-6 months have been crazy for me.  I saved up a lot of money to buy my first house, but had to use all the money I saved to pay off an attorney so I could have custody of my son!  Regardless, I've only got a few thousand dollars to my name and I've been networking in my market like crazy.  Talking to other investors and getting to know them has been great.  Every once in a while I get a deal thrown my way and they explain how it's a great deal for a beginner like me.  The only thing is, I don't have 5% or even 3.5% down to get a deal done on a multi family in my area.  Yes, I'm trying to come up with the money, but I guess I'm a bit unsure on how to generate interest from other investors and how to raise capitol to get a deal.  What's the first step?  What is the "vacuum the truck" thing that I need to do to get started?  Do I ask other investors for money and then find a deal?  Do I find a deal, get it under contract, then raise the funds?  I've also heard that I might not be able to get the contract on a property unless I have proof of funds.  How do I get across that?  I know it's possible to start investing with other people's money.  I'm not living a life of luxury, I just have double the expenses as a single dad.  I'm not trying to come up with excuses.  I want to act and get some properties in my portfolio.  Once I figure this next step out, I will take it.  But I just need help figuring that step out and how to approach investors and ask them to come in on a deal with me.  Any knowledge that you can share is amazingly appreciated! :)

Thanks,

Alex Hammond

from

Rochester, MN