Financing advice for beginner

[Gianluca Piovani]

Hi everybody, I decided to move my first steps towards real estate investing and was hoping to get some help in understanding my financing options.

I live in California, and I have the opportunity to purchase a multifamily property in Cleveland. The purpose would be rental income.
(The deal is through a friend who runs a property management company there, he has years of experience and he's a person I trust)

The property value is 20k, which I have. I'm looking to finance the rehab, estimated to be around 30k. The expected rent after rehab is $1450.

I don't have any experience with loans or financing, so I'm not sure what my best option would be. I've read that for small loans like this it's difficult to find a lender. My credit is very good and I often receive offers for personal loans - could this be an avenue?

Thanks in advance for any help you can give me!

[Mark Durham]

Do you have $30K in credit lines? If not, check into: Private Money (family, friends, etc.), Hard Money (you may be able to do the entire deal with HM), would your trusted friend be interested in partnering with you?