Hello Mark; what the heck happened to the no money down real estate thing????
Can you do real estate without money? Yeah you can but here is the catch 22 - you will lose some really good deals if the only deals you can do are the no money down deals.
But here is the biggie - it took me sometime to figure out myself - you dont need to have your own money but rather access to money.
I think it is actually good to use other resources other than your own personal funds because they come with greater responsibility.
For example, I think using hard money lenders for your first couple of deals is actually a good thing - it forces you to go out and find better deals with at least 40% equity, otherwise no fundings from them.
Your chances of screwing up just got significantly reduced. If you are just adequately knowledgeable, you will do just fine - I mean you have enough screw up equity in that 40%.
