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Updated over 5 years ago on . Most recent reply
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Getting started with none of my own money
Hey guys I've been a BP member for a couple of months now and have analyzed a lot of deals, listen to the podcasts regularly, and read a lot of the BP books along with many others. This is my first post in the forum, always found it a little intimidating. I live in Gunnison, Colorado (a small college/tourist mountain town) and the real estate prices are high here so it is hard to find a good deal (I am interested in buy and hold). Even with this being the case I have still been able to find deals that work. I am trying to avoid the "analysis paralysis" phase and get a property under contract. I have made a number of offers and now have a seller that is willing to sell at my offered price. My problem is that I don't have the money to get started on my own. I have listened to the podcasts and read books on using Other People's Money and they were very helpful. I was just wondering if anyone has specific things that work for them. I have family I can ask but they are likely only able to fund one or two deals and I would like to continue to grow my portfolio. If you guys have any advice on using OPM. I have no money of my own to use and am more than happy to take on a partner in which case would be the boots on the ground doing all of the work. Any tips or suggestions would be greatly appreciated.
Thank you,
Holden Rexius
Most Popular Reply
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Ned,
Thank you for the advice! I probably am getting a little ahead of myself and I appreciate the honesty. Even if its not what I want to hear, its what I need to hear. I am committed to the process so if saving money over time is what I have to do to make it work than that is what I will do. Hopefully I can start with this deal and maybe one more then go from there! Thanks again Ned!