Funding your first deal

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This topic contains 3 replies, has 3 voices, and was last updated by  CecilCh 6 months ago.

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  • #1456

    CandaceJP
    Participant

    quick question. just curious. How did you fund your first real estate investment deal? question is for anyone that is willing to share.

  • #1458

    StanleyDe49
    Participant

    My first was bank financed, I think 10% cash down payment. I’ve since gotten much more creative in my deals.

  • #1462

    CandaceJP
    Participant

    Thanks. I was wondering if people are borrowing from family or friends. Or if they are utilizing savings. Or investing with a partner. Unsure how willing banks are to loaning money to a rookie investor.

  • #1464

    CecilCh
    Participant

    On my first deal, I borrowed from a family member to cover the down payment. I covered the monthly payments and the rehab cost, and then split the profit when it sold. We’ve since done a dozen or so deals like this.

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