Monday, February 18, 2019

035: Need Money? You Need to Know About This…

One of the most common questions I hear from people in the real estate business is,

“Where can I get funding for my next deal??”

It doesn't matter what type of real estate investor you are, at some point, you're going to run out of cash. If you want to keep buying properties and grow your business, you'll need some other source of funding in order to stay liquid.

Now, there are a lot of ways to deal with the issue. Some investors turn to hard money loans, some will partner with other investors who have the cash, others will buy properties with seller financing or work with conventional lenders (until their bank decides they've borrowed enough money).

The problem is – all of these “solutions” have some big costs associated with them, and that's why this interview is such an important one.

In this episode, we talk with Mike Banks of Fund & Grow. This company has made it extraordinarily easy to get short term financing that charges 0% interest for the first 12 months (at which point, most people will either refinance or pay off their loan through the sale of the asset they purchased with the money).

This financing strategy isn't the right fit for every situation, but for a lot of reasons (which we'll get into in this interview), this can make a TON of sense. It offers a combination of speed, flexibility and savings that few other financing methods can bring to the table.

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This is definitely one you'll want to listen through to the end!