How Creative Can We Be?

[Ellis Thurman Jr]

Hi Guy,

I'm new here, but you'll be seeing a lot of me from here on out. 

What's fascinating about real estate investing is the investor ability to be creative and make money/fund a deal. I am trying to put my mindset in a stance of "how can i make this work" instead of "this won't work, insert limiting belief"

I'm the typical newbie investor, spent most my money trying to create a social media following. Have websites up, doing direct marketing campaigns  and internet marketing w/ PPC, and spending money on education; real estate agent course, a lot of books (also bigger pockets books). 

Wholesaling in Baltimore is competitive and it'll take time to rank well on google and my website is optimized but young. I don't care for wholesaling and it's not my ultimate goal but seems to be a necessity at the moment (no money not much credit.) My question is, I'm looking to purchase an multi-unit family deal w/ FHA Loan. Are there any savvy investors that can offer advice on what you'd in a situation like this? I don't even have enough to make a down payment on FHA loan. I'm looking into private money but I'm trying figure out if there is a way to make it work without private money.

[Ned Carey]

@Ellis Thurman Jr welcome to BP. Three is a great community of investors in Baltimore. Many are active here on BP and many here you will also see at some of the local investment clubs. 

Regarding the deal, You have three main options if you don't have your own money

• A private lender
• Some owner assisted financing 
• A partner.

I love your attitude "how can I make it work". Realistically though a no money down deal is tough to pull off, especially when it is your first deal.  More importantly it may not be the best idea even if you can pull it off. If you have no reserves, with a fully financed property, one small thing going wrong can cause your first deal to be a disaster.