Getting Money To Fund Your Real Estate Deals Has Nothing To Do With Going To A Bank!!
Dear Friend,
Getting money to do real estate deals has nothing to do with going to a bank, filling out an application, putting up down payments or waiting to be approved. Smart investors won’t go near banks that want to control their lives and tell them what they can or can’t qualify to borrow.
I’m Alan Cowgill and in 1995, after over a quarter century working hard in the corporate world, I was divorced, broke and living in a small two bedroom apartment.
When I quit my J.O.B. of 17 years to become a full time Real Estate Investor, I thought I had it made; but I immediately faced the nagging problem of “how do I fund my real estate deals?” Banks were not going to loan me money any more, because in their world, I was not a good risk.
To make matters worse, I found I had a $10,000 per month NEGATIVE CASH FLOW CRISIS on my hands. Without a serious influx of cash in my business to acquire and rehab properties, I might go bankrupt…
I’d worked hard to achieve my dream of being my own boss and now, 30 days after I quit my job, it was all at risk.
So I started asking for money from people and discovered it was easy to get. Very quickly I had more money available than I could use.
It didn’t take me long to figure out it wasn’t the cost of money that’s important, but the availability of it. With other people’s money, I could buy properties fast for all cash, get them fixed and sold quickly. You see, every time I paid my lender 10% interest.
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