Funding for buy and flip or rental

[Steven Leonardi]

What’s going on guys and gals . I’m a young gentleman who just got out the marine corps and I am ready to take on the real estate investing life . I did a lot of studying and took notes while in the military and now I wanna take charge and get started . I’m all alone so I don’t have people that’s already in the game holding my hand and showing me the way but anyways one of my main questions is what is the best or most common way to get the money for my first piece . I know I can do hard money loans but the fees are crazy . I know I can ask a family member but no ones got loaning money, I asked . I only got 3,000 to my name and my goal is to buy a foreclosed home and rehab it then sell it for profit .

[Shere Clark]

@Steven Leonardi Hi!  Where do you plan to invest?  Also, @Will Barnard and @John Thedford are correct. It's hard to get a HML on board with issuing a pre approval if you have less than $15k in liquid assets. I work for a HML and we love to fund deals for new investors and experienced investors. My advice to you is to get some more money in the bank before you consider a HML. The reason is because most HML won't fund your closing costs and they won't pay the 10-20% to your contractor to get the rehab started. A PML would be better if you must jump on a deal before having more money in the bank because the terms are usually negotiable with a PML. [Solicitation Removed by Moderators]