REAL - Getting Funding. Can folks shed some light

[kjxxxx]

I got the following PM below and I got the feeling that others could benefit from the answers and others could share how they have done it it or the different ways they know how it can be done.

I see that you are deep inside the RE Industry.I am a young guy trying to get in it. I have ok credit but no real capital since I just graduated from College. I am reading every RE book some of the ones you posted. How do I get the finance for my first investor purchase?

Thanks in advance

The number one way people have done it in the past is through the bank via a mortgage broker. They used to allow 0% down but now with the credit crunch I think you need 15-20% downpayment.

Second way is to find an investor that will front the money and you split they profits on the exit

Another way is owner finance.

I am realizing that if you read the real estate books out there they should have mentioned these methods.

 

[CybaCipha]

Dude should also read Alan Cowgill's book on financing.

In the meantime he should be getting his credit straight.

Newbie should be looking at the credit thread.

Newbie should continue to read those books.

Newbie should be looking into real estate classes to learn the industry. Make some scratch while learning the business. The most important part of the RE game is the ability to hustle and sell. Matter of fact take any sales job just learn how to sell.