Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Derek Wolpert
0
Votes |
1
Posts

New investor financing

Derek Wolpert
Posted

Hello all,

I’m brand new to investing, actually haven’t even started yet. Just a quick question though. I’m in the Long Island, NY market where houses are very expensive. Even if I have 20% for a investment, should I look at trying to not use any of my own cash? Trying to weigh the advantages to paying a high interest with hard money or other creative financing. Also, Should I start with flipping or BRRRRs as a beginner?

Thanks

Most Popular Reply

User Stats

928
Posts
701
Votes
Ryan Blake
  • Lender
  • Texas
701
Votes |
928
Posts
Ryan Blake
  • Lender
  • Texas
Replied

@Derek Wolpert The flipping vs BRRRR question is all about your personal goals and capital/lendability as an individual. There is no magic answer to your 20% down question either. Each project will be different. Some you will not want to use hard money because the interest will eat away all possible profit or equity in your deal. Other times you will want to use it to scale your 20% into 2 or 3 properties instead of one. Again, it will all be deal specific and will also depend on your goals.

Sorry there is no clear answer for you questions. That is part of nuances of being an investor and getting a feel for what will work for each project.

  • Ryan Blake
  • [email protected]
  • 214.420.7324
  • Loading replies...