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Updated 5 days ago, 12/11/2024
First time funding?
[GAH! just typed a whole long post to have the internet fail and lose it!]
Hello Bigger Pockets!
My wife and I are new investors with identified deal flow, a selected strategy, and have done a ton of research. We are having trouble figuring out which deals we should tackle first but are prioritizing wholesale to build capital. We are looking for lenders that understand the market (we are in Lousiana and are casting a wide net due to flexibility) and that will fund our first deal(s). The problem we are having is much of our current deal flow is below traditional lending terms (<$75K). We could tap equity, but want to build relationships and scale. Any thoughts, suggestions, or referrals on what first step to take are appreciated.
Note: Our initial goals are to wholesale to build immediate working capital (targeting $150k) and hold for cash-flow to build 10k/mo FCF (free cash-flow).
We have made some cash buyer connections, identified and underwritten potential deals on hundreds of current deals, and developed professional relationships in our target community (cleaning, construction, governmental).