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Updated over 2 years ago,
Finding partners/funding not as easy as it sounds in the books..
So I'm super frustrated because I'm on my 3rd deal and I have yet to successfully find a credit partner or the infamous private lenders I read about in the books. I studied, and networked, and podcast, and webcast, and went to reia meetings for a whole year before I stepped foot out to search for my first deal. When I found it I searched so hard for a way to fund that fix and flip. Nothing. Luckily I used creative financing as a way to buy and out of the box thinking as a way to sell the deal (sub2- lease option) without having to have much money. No offense, but Brandon turner, the you tube guys and the literature made it sound so easy to find these people but for me it's been my biggest shortcoming. My second deal, same way. Here I am on my 3rd, same thing lol. This one I actually found a private lender, legit, did all the paperwork to find out a week later I needed 10% in reserves. 35k in reserves. Now on the verge of losing the deal or having to assign it when I know there's 6 figure profits in this deal. All because I can't find this unicorn credit partner. Am I saying the wrong things. I don't get it. I'm actually in the real estate field in a different profession as well and I have realtor and investor clients. But I can talk about this deal till I'm blue in the face and still have no luck. It's very frustrating. Bad thing is if I could make this work I'd actually have enough money to play with from now on. I dont know I think im freaking out bc the seller wants to close and im having to stall. If I screw this one up I don't know that I'll have the level of excitement for re investing that I once had. I'm a fighter and a positive thinker but man this has got me down. Any advice would be great. Although I'm not sure there's an avenue I haven't covered in search of this mythical money partner creature lol. Rant over