Need help getting funding in Philadelphia area

[Jay Ogilvie]

Need help getting funding for my first deal in Philadelphia area

[Frank Hinck]

@Jay Ogilvie

Take a year, I know it seems long but trust us real estate and “deals” will still be there albeit anything you’re looking at now won’t. Take a year and 1- listen to a BP Show per day, 2-cut your living expenses as much as you can believe it or not you can find $1,500/month by reducing rent & car & cutting luxury expanses and in a year you will have $18,000 - this will suck but it’s an investment!! 3-Network! On BP forums, meetups, REIAs, coffees, find your local experienced operators/NOT paid gurus and see if you can help them find deals, drive for dollars, analyze deals, line up contractors - it’s your unpaid internship to soak up as much experience as you can handle.

I’d do the first 1-2-3 on your own, become an established owner & operator. Once you have a good rep & portfolio of properties it will be easier to A-attract investors, B-ensure trust and earn full operating trust. Plus come 4 mortgages you will need other folks to help take on the mortgage (actually 10 but some banks stop you at 4). Document your entire process from evaluation, buy, rehab, rent refinance - even in a picture flip book so you can show others what you’ve done and why you deserve to be trust with their investment.