If you are a new investor and want to lets say invest in HUD properties. How can you raise money for the down payments when you have a plan to sell that contract to an interested investor and do a double closing? Remember, you have to get the property under contract with a earnest money deposit. (EMD)
If you listen to the podcast from last week, the guest talked about the different ways to find money to invest.
1. Mom & Pop $, which is basically those closest to you. If you have no money these are the people who are going to believe in you and who you are and will stick their neck out on the line to help you.
2. Friends $, similar story to the #1 but you may not have as much initial trust built with them and will have to gain that.
3. Private $, This would be people you might know or even some folks out here on BP.
4. Hard $, These guys will loan on a great deal but you will pay for it.
This may not be exactly the different ones he talked about but it gives you a place to start.
Didnt listen to the podcast but thanks for the info. Good Luck
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