Jul 9, 2019
Continuing last week's discussion from Part 1 (Episode #15) on [Where To Get The Money?] - this week we focus on Private Lenders. Having your projects funded 100% by Private Lenders is the best method of [Using Other Peoples Money For Real Estate Investing Success].
This form of OPM may not be available to you on your very first project (I mention friends and family as a possible exception to getting Private Lender funding right from the start) - but as you successfully complete each project, you'll certainly be nearer to this target. And once you reach this point, you may find that low deal flow (a lack of properties needing funding) becomes a greater problem for you than not having enough funding.
Either way, both problems can be solved, and this Episode #16 of the [... and Landlord!] Rental Real Estate Investing Podcast gives insight into solving your project funding problems with Private Lenders. I go into some details on protecting your Private Lenders, but most of the show covers the topic of getting and working with Private Lenders in general.
And to that end, I mention my own difficulty in making what I'm doing known to friends and family members - and giving them equal opportunity to benefit from funding my deals as I have no problem making available to others. Excluding family and friends is really not fair them or myself, so I must work to overcome this apparent mental block of avoiding working with friends and family.
I end this episode with details on where to find more information on this topic, one great location for doing so being "The Book On Investing In Real Estate With No (and low) Money Down" by Brandon Turner of BiggerPockets.com- which you can find among other great Business and Real Estate books on the Books page of the Podcast Website.