It has been a pretty good ride, hasn’t it? I mean, since the dark days of the “great recession†when the DOW bottomed out at 6443.27 on March 6, 2009, the market has gone pretty much straight up. Remember those guys in the office that spent all day with a browser window open to their E-Trade accounts so they could “trade†their mutual funds? They were all over the place before the DOW tanked. They…
Category: Private Money
“Personal Guarantees are STUPID!”
Wow. I just received another screeching email from a self-proclaimed guru bragging about how he just did another risky deal with private money from a new private lender in a crap-hole neighborhood that he would never buy in with his own money, and that he didn’t even have to offer a personal guarantee because the lender didn’t know enough to ask for it. Bravo Sparky. Bravo. You took advantage of someone that didn’t know any…
It’s Private Money Ninja Time
I’m sure you at least heard about the carnage in the stock market yesterday. The DJIA was down 391, which made this the third worst week for the stock market in history. And it was only Thursday. As I write this the market looks like it will open even lower this morning. And gold continued to fall overnight. There doesn’t seem like there’s anywhere to turn, does it? And that’s a good thing. A very…
4 Fatal Mistakes Make When Looking for Private Money – Part 2
The last post focused on the top two Fatal Mistakes that investors make when they’re on the prowl for private money. I continue here with Fatal Mistakes #3 and #4. Private Money Mistake #3: The Complete Lack of Networking I can hear the shouts right now – “HEY! I network – I attend three REIA meetings per month and I get together with my real estate buddies a couple of more times per month!!â€. Good…
4 Fatal Mistakes When Looking for Private Money
Private money is the lifeblood of real estate investing right now. Most conventional lenders are out of the market due to the economy, and many former Private Investors are on the sidelines either because they took a hit during the down-turn or because of “Bernie Madoff Syndromeâ€. Either way, money is harder to come by than it was just 24 months ago. So that has gotten many real estate investors very interested in raising private…