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Updated over 4 years ago on . Most recent reply
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Finding funding for my first deal.
I want to get started with my Real Estate investing with flipping, brrrr, or house hacking. I don’t really have enough to do it on my own. How do I start???!!! I’m a licensed Realtor Associate with moderate knowledge on how it all works.
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- Rental Property Investor
- Boulder, CO
- 1,151
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@Alex Carreras I would start with your education on why those strategies and how they fit into your plan. They are all 3 different and will yield different results. They also depend on your access to capital to fund them. So start with your WHY and your goals (here is a guide). Then think about how the strategies fit into our plan (here is how I might do it).
1. Househacking - You can get in at historically low rates and with a very low down payment. You can also get a 203K loan and take on construction as well. This strategy would allow you to reduce or eliminate your housing cost, and you can save faster. And you can do this about every year (you have to move of course) and repeat.
2. Buy 2-3 properties to BRRRRR and make sure flipping is a viable exit as well. Keep 2, flip 1. Remembering always to continue to reinvest your profits to build (don't spend them on a new car... yet).
PM me if you have Q's!