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Updated over 5 years ago on . Most recent reply

User Stats

19
Posts
2
Votes
Joshua McLean
  • Real Estate Agent
  • Cleveland, OH
2
Votes |
19
Posts

Best way to fund a first deal

Joshua McLean
  • Real Estate Agent
  • Cleveland, OH
Posted

Im currently educating myself on BRRRR-ing and managing rentals. I have not started yet, but I am trying very hard to figure out the best solution to fund my first deal. Because I want to BRRRR it, traditional lending is not something I want to do. Im a college kid with not a ton of capital and Im looking in Cleveland (if that matters to anyone). I think as of now my best solution is private money, but thats my question. What better solutions are out there that you guys could suggest to me? Or whats the best way to go about the private money strategy?

Most Popular Reply

User Stats

335
Posts
251
Votes
Daniel Kong
  • Rental Property Investor
  • Honolulu, HI
251
Votes |
335
Posts
Daniel Kong
  • Rental Property Investor
  • Honolulu, HI
Replied

Even with a BRRRR, at the very end, usually you would use traditional lending to refinance your money out. When it comes to private money, it would be really hard to trust you if you have no experience or track record...

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