Newbie question about process

[Gary Tsai]

Hi BP community,

I am new to real estate investing and I have a question that I haven't been able to find an answer to.

I am working out of Pittsburgh, PA and I found a property that I'd like to purchase, keep, and make money by renting it out. I can't qualify for financing through conventional means (ie. FHA or conventional mortgages), so I was looking to acquire the capital through private lenders.

My question is this: Do I make the offer first and secure the financing for it after the property's under contract, or do I secure the financing first and then make the offer?

Thanks in advance,

Gary