how will I get the financing

[Tyler Drapeau]

Hope everyone is doing well. I am new to the site and real estate investing. I have worked my way through 25 of the podcasts in the past couple weeks, and cannot get enough. I have not purchased any investment properties yet, but I did purchase my personal residence back in June. I bought a foreclosure in great condition, and ended up getting an amazing deal. I used a VA loan and only paid for inspections, a few quick fixes, and closing costs out of pocket. House has about 60k in equity already.

I want to get into buy and hold rentals in New Brunswick and/or Morristown. I have lived in both areas, and know the markets pretty well. I also know the smart move to get started would be to sell my personal home, and use that 60k to really starting investing. I do not want to do that, I love this house. 

Also I have about a year before I'll be ready just purely based on amount of free time. I work full time, go to grad school full time, I am in the reserves and have to go for training for two months over the summer. Jan 2018 is looking like the earliest opportunity for me to really get serious about investing in real estate. I figure learn as much as I can before then.

The big question for me, and for others I assume, is how will I get the financing? I may be able to save up enough for a down payment in time, but that would obviously depend on the purchase price. I could take out a HELOC or do a lot of legwork and try to partner someone more experienced for the rest. I am not sure what other options there really are available. Any other suggestions? I do plan to take the real estate license course for NJ sometime in between everything else and get that done before 2017 is over. I would love to work with experienced investors and would any necessary work t make that happen.

Thanks for your time and look forward to hearing from you. 

Tyler

[Alina Trigub]

@Tyler Drapeau

Thank for your service! 

You should Brandon's book on "investing with no or low money down". Also, start networking by joining local REI clubs. If you are not sure how to find them, look them up at the Meetup site. At the networking events you can meet up private investors, hard money lenders, residential and commercial lenders. You don't have to start borrowing money from them rather network and you'll get advise automatically. You may even find potential partners or private lenders to work with.

I hope this helps!