Funding,Real,Estate,Deals,Migh business, insurance Funding Real Estate Deals Might Be Easier Than You Thought
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Fundingreal estate deals is obviously an important component for anyinvestor that wants to do multiple deals. This is probably even moretrue today, with the state of lending and the economy. So what is aninvestor to do? Well there are several means outside of theconventional and one which you may not have considered. I am going tosite a very successful investor, you certainly have heard of, and hisstrategy and how this may work for you, too.WarrenBuffet is an American investor who earned a huge fortune from wiseinvestments. He lives in Omaha, in a house that he has been living infor the last 45 years.He is the second richest man in the UnitedStates and recently gave the first richest man in the United States$37 billion dollars to handle for him. He donated it to the Bill &Melinda Gates Foundation to manage.When he was a young man just home fromgraduate school a few decades ago, he was convinced that you shouldalways buy based on the fundamentals and not worry about trends, whatother people were doing, or even what the buzz on Wall Street was.Sohe wrote a thesis and mailed it to 272 of his closest friends,neighbors, and relatives. Basically it said, Heres myphilosophy. Im not going to take a job. What I am going to do isstart a fund that will only buy on the basis outlined in myphilosophy. I will walk over broken glass to make sure that you dontlose a dime. I will have 100% of my net worth at all times in thefund.Then hejust mailed the letters and waited for people to send checks to him.While he waited, he started calling on people. He signed up a largeshare of those 272 people at some point or another. If you had beenone of Warren Buffets original investors, you would be quitewell-to-do today.Heknew that he couldnt just run an ad in a newspaper since he was akid hardly out of college. He had to deal with the people he knewbest and who knew him best. Many people of good character thought alot of him and invested their money.Some of them invested just alittle money at first and then more later on. But surprisinglyenough, over two-thirds of the people to whom he wrote letters becamestockholders in that first month.You needto do that, too. If you cant get an owner or a tenant to investwith you, start with the people to whom you are closestthat knowyou the best. They are the ones most likely to give you money.Perhaps it seems to be counter-intuitive to ask your best friends formoney because you dont want to ruin that friendship, but considerthese key points.KeyPoints:Ifyour deal isnt good enough to ask your Mom to invest in, youshould not consider the deal. Ifthe deal isnt good enough for your friends or family, it may notbe a wise starter deal for you. So get out there and set up the bestpossible deals.Onlyshow people the deals that are under contract. Otherwise, theyllfeel that its their prerogative to dictate how your deal isstructured, and may act like your senior partner. Show them why itssuch a good deal, but if theyre not convinced, they simply donthave to invest. Now youmay have to get outside your comfort zone to initiate this techniqueor you may quickly find out 'Who Loves Ya Baby'. However, if you areknowledgeable and confident you can do good deals and prove yourself,then it is likely you will find people to invest with you and mostlikely more so in the future if they are getting a good return ontheir investment. So funding real estate deals from external sourceswill take some leg work and effort, but it is a doable proposition ifyou approach it in the correct manner and perform on your promise.
Funding,Real,Estate,Deals,Migh