North western metro west buy and hold discussion

[Jon Roland]

Good day all, I aspire to be a buy and hold investor, but don't have a lot of startup capital and am not sure wholesaling is the best starting path for me. Are there any thoughts or recommendations from the BP community on how to get started?

[Tom Cafarella]

1. Go FHA on your first deal. All you need is 3.5% down. They even have some zero down programs now

2. In a year or two when you are ready keep that one and buy another FHA

3. You can continue doing this with FHA a few times

At the same time that you are doing this, do 2 other things:

1.  Try to prospect to sellers who will take back notes on their multis.  It is not the easiest thing in the world to convince people to do, but it is doable

2.  Start raising capital from other people who want to earn a 10-15% rate of return on their investment and partner with them on some multi family purchases and if the cash flow is strong enough you will be able to easily pay them.