Real estate investing is NOT easy. If it was, there wouldn’t be all these gurus and infomercials selling you “education.” They would be doing real estate. So do both, but many sell you stuff, and sell, and sell…I’ve “been there, done that…and lost the film rights!” Ok, maybe not that last, but it seems so!
There are a ton of areas in REI: bird dogging, wholesaling, fix & flip, land, rentals, single vs multifamily, commercial, notes, short term rentals (Air BnB), and on. All of these, except for bird dogging, and maybe, if you do the deal great wholesaling (or lease option/wholesaling), you need green, and I’m not talking about paint, for the flippers, either!
You can go the way of hard money, and if you have the money for your “skin in the game,” a lot of successful flippers do so. I know of one HML which offers 100% funding. I have NOT used them, so cannot say anything about it, but wanted to point out the resource.
Also, if you’re looking to wholesale properties, and don’t want either party knowing what you’re making (suggested if you’re going to make between $5 – $10k, or more), then you may want to try Transactional Funders. Same rule as above, in that I haven’t used all of them.
But maybe, you’re wanting to go more. Maybe you’re tired of getting deals under contract, but having to let the deal expire, because you can’t get a buyer: they don’t have funds this month; it’s in the wrong zip code; it has a pool, and they don’t want the hazard, or many other options. For that, you need Private Money, which I loosely define as money not from any sort of institutional lender, “bank alternative,” or someone soliciting you on a real estate social media platform. If the terms and figures seem like Hard Money, then it’s Hard Money, by another name.
The best option for REI, IMO, is networking with others, presenting a large, unified front, to find private money. One of the best sources, is Self-Directing IRAS. If you’re unfamiliar with them, then watch this short video.
We’re looking to network with other real estate professionals, no matter your experience level. If you’re interested in working together for mutual benefits, please contact us.