Private money

Private money

  I had an interesting experience recently. I went to lunch with a banker after I had inquired about how a business line of credit worked since I had never applied for one before.   I was expecting the rep to showcase what products the bank had for investors and explain what kinds of qualifications and stipulations would go along with each.   That’s not what I got.   Lunch…

Learn to create great deals

Learn to create great deals

  I got a call from a newer investor recently, and he was about to do his first subject-to deal. That’s where you buy a house and leave the seller’s mortgage in place after closing. You then make payments on that mortgage until you either pay it off, refinance the house or sell the property.   The investor was looking for some guidance on how to set up and properly…

What comes first — the loan or the deal?

What comes first — the loan or the deal?

  The two main obstacles most beginner investors experience are “Where do I find a deal?” and “How do I pay for it?”   This situation feels a lot like the age-old question, “What comes first — the chicken or the egg?” In order to buy a house, you need to secure funds to pay for it. But in order to secure those funds, you need to have a deal…

Work to learn, not to earn

Work to learn, not to earn

Work to learn, not to earn:   There are concepts that have truly life-altering effects. For us, the idea of working to learn, not to earn was one of them. This notion came from a book we read called “Rich Dad Poor Dad” by Robert Kiyosaki.   If you’ve never read that book, please do. It’ll change the way you look at money, your job and investing forever.   In…

What are your options?

What are your options?

What are your options?   When you hear the word option in real estate, you probably think of a lease-option strategy. This is where you lease a house to a tenant buyer with bumpy credit. You call them a tenant buyer because they’re renting your house with the hope of buying it from you in the near future.   That’s where the option comes in. You sell them the option…

Word Of Mouth

Word Of Mouth

Word of Mouth   Advertising is a big deal in any business. Your customers need to know what you do and how to get in touch with you. In real estate investing, advertising presents a unique challenge in that you nearly never have repeat customers. That’s because most people don’t have multiple houses to sell.   In order to drive your investing business forward, you need to be advertising constantly…

Private Money Loans

Private Money Loans

Private money loans: How many of you have heard the phrase, “it takes money to make money?” This is a true statement if you want to make it in real estate investing.     People often make the assumption, however, that you must own the money it takes to make said money. You don’t need to own it- you just need someone to let you use their money so you can do the…