It is fairly easy to get a POF letter from lenders for the purchase.This would be one way to build up a down payment for your buy and holds.

That being said, I think if our ultimate intention is to create streams of income that don't require our constant attention - this can definitely be done by finding the right people to handle the most time-consuming tasks for us.Seems like the initial battle is to build up those cash reserves through things like wholesaling, flipping, bird dogging, saving money from the day job, etc.

Once you build up a relationship with them, they may be interested in a partnership.  

The first things are minor annoyances and inconveniences, and aren't the main reason for this post, but this is a build up of things.

Realistic Sellers.Guts-Money-Buyers (will all come with a realistic seller letting their property go at the right price)I'm a newbie looking for my first deal, but i have started to send out probably 20 Yellow Letters a day. 1000 generic flyers a month, and i drive properties constantly.I have great credit, and family friends who said they might get involved with the right property for money support, but nothing for certain.My goal is to rehab propeties and build up a nice nest egg, eventually moving to buy and hold, than moving on to 1031 and commercial properties.

The rates will be a little higher, and the terms shorter, but this will allow you to build up a significant portfolio.So, assuming you can swing it and the deals are there, this is what I would do.

What is the best way to build up my credit in the LLC?

Probably not entirely coincidental that a guy from Texas suggests Texas and a guy from Missouri suggest Missouri.I have been looking at a number of different markets (although for pure flipping, not buy and hold) and I have come up with the following:Phoenix, AZAlbuquerque, NMRiverside, CASanta Ana, CAYour 45K probably prices you out of all of those except Phoenix, but once you build up more working capital, you may find your model works better in the other markets, as well as the ones Bryan and Bill mentioned.

Hey guys,From what I've been reading, the first thing a prospective wholesaler needs to do is build up their investor list.

If the properties can debt service a million dollar loan at 12% then the savings at 6% should allow you to build up sufficient reserves where you can weather any bumps in the road thus mitigating the risks that come with a recourse loan.