Originally posted by @Rob Randle:
Why is investing using own cash better than investing others cash financially? Why is investing others cash "not the final destination"? What are the benefits of using your own funds?
Lets assume that I have unlimited funds.
I believe that cash, credit and creativity go hand in hand. One is not more important than the other. What is needed to seal the deal? Do you have what it takes? Yes? Great! No? Can you get it? Yes? Great! No? On to the next!
@Ben Leybovich I follow Mr. Cardone on Facebook and he just posted a video this morning about how to buy real estate with no money down. He mentions bigger pockets and said no money down is not his deal but he is going to help people buy a deal with no money down! He must follow you Ben! haha
@Ryan Billingsley - can you share on my Facebook please?
Sorry, can not figure out how to post it here!! haha If you have a facebook account, search his name and it is his most recent post.
Updated about 4 years ago
You can tell he has been reading your comments!
Updated about 4 years ago
I can share it on your page, accept my friend request.
Nice reading. No one gives advice how to get in touch with NMD lenders or LEDs. My I get advice please thanks.
NMD, No Track Record, No Contracting Skills.
Why would anybody want to deal with you? What are you bringing to the table?
No offence, but I wouldn't deal with anyone with that resume, unless I had a fool proof plan to totally have them by the balls.
True successful investing in real estate to me is nothing more than proper use of available assets. So, what assets can, or better said, SHOULD be utilized to close a deal? Some investors have lots of money. Others have plenty of time. A few have the ability to structure transactions through creative innovation. Really, these are just tools of the trade.
What then, is really needed to control a particular piece of real estate? If I were asked, which of the above mentioned "tools" I would prefer, I would have to answer that with a question. Which tool or a combination of tools are best for giving all parties the satisfaction they seek? Ask the seller enough of the right questions and you may find that NMD is the best solution for his or her circumstances. You may also learn otherwise. There are a lot of conditions to a sale, but if you come into a transaction uninformed, you will not know what assets are necessary and you may be left with no ability meet the needs of the seller and everyone loses.
The most successful investors find ways to equip themselves with a tool belt with few empty compartments.
Let me tell you about this investor, we'll call him "A"
"A" owned a machine shop, he was a brilliant machinist. and locally an expert on the machinery he made parts for.
"A" was also a sharp business man, there are a few large industrial parks around here he built.
So anyway, A always took back the note on the properties, and A looked for guys with big dreams, who were hard workers, but guys he figured, just couldn't quite "make it".
The guys he let in properties for no, or little money down would break their butts for a couple of years. "A" would even offer to help them by having them do work for him in lieu of making the mortgage payments.
And when things didn't work out, "A" would say something to the effect of,
"Sorry things didn't work out for you. Don't worry about it. We'll call it even. Just give me the keys back, and I won't bang up your credit"
Lather, Rinse, Repeat
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