Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 3 months ago on . Most recent reply

User Stats

14
Posts
5
Votes
Jamal Moore
5
Votes |
14
Posts

Looking for recommendations

Jamal Moore
Posted

Hey guys , I am studying strategies on creative financing and how I can raise the capital for a down payment on my first rental property. I came across crowdfunding as a opinion and seen that GoFundMe is one of the biggest crowdfunding platforms. is this a good way  to raise the starting capital for my first rental property , if not what did you guys do for starting capital ? looking for recommendations and advice. thank you ! 

Most Popular Reply

User Stats

6,629
Posts
7,582
Votes
Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
7,582
Votes |
6,629
Posts
Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

No. That is not what GoFundMe is for. Right now, you are thinking of yourself and how to get you ahead and not stepping back and looking holistically at the process. Why would someone (a stranger) give you money for the downpayment on your first rental property? That's what crowd funding would do. There is nothing in it for them.

You should be going to real estate investing meetups as much as possible and networking with other investors. When you don't have money for a downpayment, you should not be trying to buy a home because no matter how you do it, you will be overleveraged and have no reserves for repairs, etc.

business profile image
Zen and the Art of Real Estate Investing
5.0 stars
9 Reviews

Loading replies...