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I was talking with Frank who was a newbie apartment building investor. He told me he would seriously start looking for deals (i.e. making offers) once he had enough money to invest. But he couldn’t really tell me when that was going to be.

He said he couldn’t see himself putting a building under contract right now because he didn’t have the money to close. Who would take him seriously?

Frank had trouble seeing beyond his own reality, and so I suggested an alternate perspective. What if he raised money from friends and family?

He wasn’t sure how that would help. And besides, his friends and family didn’t have any money anyway.

I hear these objections to getting started with investing in commercial real estate all the time. People don’t have the money, and so they’re stuck. Looking off into the distance they mumble “some day”.

Some day.

The truth is, you don’t need tons of your own money or good credit to get started with multi-family property investing. The secret to getting started now is to raise money from private individuals.

Here’s why.

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However, there are some disadvantages to having investors:

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All in all, though, the advantages of using other people’s money far outweigh the disadvantages. This doesn't mean you shouldn't use as much creative financing as you can (especially seller financing). Bottom-line, if you get skilled at raising money from others (like Donald Trump!), you can get started with investing in apartment buildings (and other commercial real estate) TODAY.

3 Responses

  1. Really enjoyed your E-book – simple, thorough, and would give any novice or intermediate investor a quick run-down of how to purchase a multi-family property. Thanks for writing it and keep us informed of your progress through the blog!

  2. Pingback: The Best-Kept Secret to Raising Money for Apartment Building Investing

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