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…
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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…
Section 8 Sucks
Yeah I know. You’ve heard all about what a great program this is. I know that I hear newbie real estate investors hyperventilating all the time about how “the government is going to pay the rent!!!â€. Well there’s no such thing as a free lunch Sparky. When I got started in this business six years ago I didn’t really have a clue as to what Section 8 was. All I could recall was hearing horror…
The Grand Canyon Knowledge Gap?
The first thing I did when getting started was I jumped in with both feet. I had no idea that I’d have my first offer in and accepted within 90 days, but I did know that I didn’t want to dilly dally around and over analyze things and drag it out a really long time like I did with my first rental house. In that situation I spent far too much time analyzing “things†and…