New Investor - No Money Down - Partnership Strategies Needed

[Jordan Campbell]

Hey All! I am purchasing an out of state STR this spring, am trying to dial in my buying criteria, and need help understanding my options. With a low income and coming in with none of my own money, what are my financing options as far as partnering goes? I wont qualify for enough (Less than 150k I believe), so I will look into a co signer partner as an option. Seller financing or subject to seem like the best routes, but is there any point in those scenarios I would have to look good to the bank? And if I were to buy with all private money, how would that exit look?

Any pointers are appreciated!

[Nicholas L.]

@Jordan Campbell

is this your first deal?  I'm just going to be blunt here - if it's your first deal, and you have a low income and no money, I would not do anything exotic, like private money or a partnership.  private money isn't magic - it needs to be paid back!

instead, i would start by shoring up your financial position, and look into house hacking. you can even combine the strategies - house hack and STR.