Looking for someone to help with investment loan/ capital

[Jeff Efird Jr]

Looking to build multiple multi-family rentals and would like to know different options if getting funds besides using my own money. Any advice would be great.

[Russ Smith]

I started the old-fashioned way, by making sure my credit/income was good and I applied for loans with banks and mortgage brokers.  I probably did my first five or six deals that way.  The paperwork can be a hassle but having a loan with timely payments helps your credit score and helps you build credibility, not only with bankers but also friends, family, colleagues, etc.

Once you have a proven track record of buying and managing rentals, you can explore the private money options (from those same friends, family, and colleagues).  You can start with private money and skip the banks, but for me, having a proven track record of success really put my private lenders at ease and I was able to get loans at great rates and great terms.  I don't think I've used a traditional bank lender (with the exception of credit lines) for over 10 years, because it feels great creating a win-win for you and your investors, and getting to skip the mountain of paperwork banks require.

Good luck!