Other People's Money

[Andrew Low]

How do you truly use someone else's money and not your own in real estate investing? Very confused because everybody I have listened to has preached that you can do this, but then on Bigger Pockets everybody is saying that you need quite a bit of money saved. Please help with some clarification.

Thank you in advance for your time and replies.

[Steven Foster Wilson]

Quote from @Andrew Low:

How do you truly use someone else's money and not your own in real estate investing? Very confused because everybody I have listened to has preached that you can do this, but then on Bigger Pockets everybody is saying that you need quite a bit of money saved. Please help with some clarification.

Thank you in advance for your time and replies.

 I wanted to buy a property last month but I did not want to use my own money. I called up one of my friends and I asked him if he would give me $25k with a 12% interest rate for 3-6 months. He said yes! I wrote up a contract and the deal went through. You just have to ask. I have been surprised at how many people are willing to invest when you just ask.