Is it possible to invest in real estate with no money? Can you purchase a property with no real estate experience under your belt? ABSOLUTELY! This might sound like a wild idea if you’ve never heard of it before, but the world of private money is huge!
What exactly is private money? Private money refers to any money that you borrow from a non-bank. It could be from a friend, a relative, or another real estate professional The beauty of private money is that because it’s not regulated by the government, you get to write your own rules.
There is a whole world of money out there just waiting to be invested! If you go to a local real estate meetup you will meet lots of investors looking for partners. They may want to finance deals, or they may want help on existing deals. This is a great way to get started and find some private money partners. All it takes is for you to work up the courage to walk into a meetup and start to befriend strangers. Yes, that is hard to do. I’ve done it. It takes courage to say that you’re a real estate investor, especially when you’re just getting started. But the same can be said of any career. You have to start somewhere!
If private money sounds like the right fit for you, there are some incredible resources you can use to learn more and land your first deal. Getting the Money by Susan Lassiter Lyons is an incredible book that contains tons of great strategies for securing private lending, getting in the right headspace, and so much more.
Additionally, on our YouTube channel we have an entire Private Money Series! I’ve created an entire playlist dedicated to finding private money. You’ll learn how to create a credibility one sheet, how to decide how to compensate your lender, and you’ll even see me set up a lunch meeting with a private lender.
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