10 Great Lies Sold to Newbies

1. You can make money “wholesaling” with no capital, experience, or knowledge

2. Your brand new business entity can qualify for credit even if you personally can’t qualify

3. When you identify a great deal money will follow and you can own it all with no investment capital on your part

4. If you own 100 “doors” you’ll never have to work again

5. Owning residential multi family property is a “passive” investment

6. Hard money lenders will lend you the gap between an institutional loan and the purchase price

7. And per 6 above, transactional lenders will lend you the earnest money

8. You can successfully wholesale MLS listings

9. 90% of the wealthy made their money in real estate (it’s actually 7% and declining!)

10. If I can do it, anyone can do it (numerous gurus and other snake oil salesman)