Next, I prefer private money, so that I can hold onto my own cash.

You mentioned you don't qualify for traditional financing but have you explored other funding - Hard Money, Private lenders/friends/other investors?

Robert,If the objective of your purchase is cash-flow, then appreciation matters little - don't get me wrong, it's still nice, but the success of the investment does not rely upon it.Matching your product - in your case, single-story (ranch style) duplexes - to your clientele ({nearly} retired, aging tenants who do not wish to contend with stairs as they grow old or those with mobility issues), whether done explicitly or intuitively, is the key to low turnover.We are considering a multi-family unit which is comprised of 25-row houses in a single story garden home format as it has an appeal to our aging population.

Hi TrevorI'd suggest it's tough to get into private lending at the $10k to $25k level.There are plenty of borrowers at that level, the problem is the fixed cost of closing a loan.

Which is goodi) Private lender giving you a line of credit at 10% interest with 100K capital orii) Private lender giving you financing for specific house by holding lien on the house. ?

With no experience, I would be hesitant to invest 100% of that into real estate, especially if I ended up not enjoying it.Another option, and the one I would opt for, is to become a private lender.

Also how would I go about finding private investors to table fund my 24 hour flip?

I wouldn't suggest staging the bedrooms as it can make them appear smaller, as previously stated.I just flipped a home built in 1954 and staged it with mid-century modern styling and everyone who saw the "jewelry" loved what I did with the place.

Your profession can be a huge source of private money for deals through self directed IRA's.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

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