what to do when you ran out of money?

what to do when you ran out of money?

tel aviv, mercaz · Member since 2012 · 38 posts · 1 vote

Hey Everybody

I have been investing in the Detroit market for the last 2 years. so far it has been very good for me. I'm not american so I cant obtain any loans like you guys. I do everything with cash. In Detroit many times you can find a deal for about 20k all in. I was buying during the last years 15 units and I'm renting them out. for now I ran out of cash and I cant keep buying like I used to.
I feel like I'm getting crazy! :) I love go on Zillow or speak to RE agents or any other people in the business for finding new deals but now I cant really afford it anymore. its true that I get decent cash flow every money but I will have to save at least a few months before I can think about my next deal.

my question is if that every happened to you? I really enjoying the buying fixing and put some life in a house.

I have been reading many RE books in English about american mentors. to be honest I don't understand how they own 5000 units in 10 years and become so wealthy. what is the secret go get more money into the game? only banks?

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  • Residential Real Estate Broker · Plano, TX · Member since 2013 · 10 posts · 9 votes
    13y

    You can go to Hard Money and Private money lenders in order to facilitate purchases. Just look for one that has the option to transition into long term permanent loans. I'm not sure why not being American means you can't get a loan?

  • tel aviv, mercaz · Member since 2012 · 38 posts · 1 vote
    13y

    and you don't need a SS# for that?

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