REAL opinions on financing options

I have been reading postings on this website on and off for 4 OR 5 years now and want to ask a general question. I have read everything from Carlton Sheets with his finding motivated sellers to Kish’s buisness lines of credit, my question to all of you pro’s out there is this; the real estate guru’s claim to have gotten where they are with no credit no money and little work. I don’t want instant fortune, nor do I have horrible credit, but I don’t have much cash. What are some of the techniques you all have used to aquire some of your properties?

Thank you for your time. :beer

Here’s a quick list:

  1. Private Money (friends, family, accountant, attorney)

  2. Seller Financing - Doesn’t have to be 100% (could just be for what other money doesn’t cover)

  3. Buy “Subject to” the existing financing

  4. Land Contracts

  5. Lease Option

  6. Retirement Accounts

  7. Assigning the Contract/Wholesaling where you don’t need your own money because you don’t actually purchase a property.

  8. Borrow against existing properties (home equity loans or lines of credit)

  9. Partnerships

  10. Small Private Banks/Portfolio Lenders (Lenders who keep the loan in-house)

And/or a combination of the above…


4 or 5 years? Dude, get out there and do something. You need to talk to other investors in YOUR area. You won’t do anything if you keep relying on forums and expensive courses for all your information. I’ll give you the “secret” to real estate - there isn’t one! The list that REIforNewbies gave you is about it. There’s no magical way to acquire real estate. If you can’t qualify for a loan then you need to be looking at seller financing, assuming loans, or private money. You gotta get out there and get beat up a little till you figure things out. Bottom line - if you truly have a good deal then you can make money on it.

The business credit lines are the real deal.

I don’t know about Kish’s product or how he promotes to go about it, but I have gone about it and it worked well for me.

Nothing like purchasing properties with cash from a credit line rather than going through HML or trying to find private money.

Well I think it depend your current situation and what you want to do. You could talk with a local mortgage broker to go over your options. I wish I had done an owner occupied 2 or 4 family years ago. It’s kinda tough now with a house, wife and 2 kids. If can give more info about your current situation and what you want to do, there are a lot of helpful people on this site.