[Chuck Laun]

Chuck Laun

Hello
Chuck Laun here, just joined with the premium membership. I am so excited to get started reading and learning but I believe my biggest hurdle will be to generate private money getting started, any ideas?? I’m not afraid of hard work as I have been in health care for over 35 years, had my own successful office in California, but through the school of hard knocks learned the hard way what “not to do” in real estate. Looking forward to all the great books and info available.
Thanks for any ideas or comments

Regards,

Chuck
[email protected]

[Dee L Graber]

Dee L Graber

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Chuck, I think your greatest fear (about raising capital) is largely irrelevant to the way that most CashFlowDepot deals are taught — at least in the earliest, and even intermediate, stages. CFD is all about doing deals with minimum cash outlays and minimum risk — at least in the beginning. Those kinds of deals can be done practically with almost pocket change — from which hard money lenders take no pleasure, or fees, from.

I might suggest that you start with Jackie’s Flipping ebook, and then perhaps the Highest Bidder Sales ebook. You need to learn how to do deals without even taking title. You need to learn what an option is, and what the minimum cash (called “consideration”) needed is to make an option enforceable in your state. A lot of beginning deals don’t require the amount of cash to pay a hard money lender’s one-evening bar tab.

All too many beginners get steered by lenders (what a surprise) into high risk deals that tie up lots of cash and generate lots of interest money to the lender, but don’t pay off for the deal maker. That gives real estate deal making a bad smell — and it’s NOT necessary.

Best wishes, and welcome,

–Dee

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[Jackie Lange]

Jackie Lange

HI Chuck

Welcome to CashFlowDepot. Thanks for becoming a Premium Member.

While private lenders are good to use once in awhile, there are so many other ways you can buy houses without using cash, bank loans or private lenders. It would be better to focus on doing deals which do not require cash to buy, then you won’t need private lenders.
We do have an entire section on finding and working with private lenders. but initially, work on doing deals without using them. It can be a crutch to use private lenders. It’s better to learn “creative” real estate buying techniques like wholesaling, options, highest bidder sales, buying with seller financing, master leasing — none of these require much cash or private lenders and we have training about all these in the Premium Member section.

What are your objectives? Once I know that, I can help point you in the right direction to the best techniques to use.