Money Truly Is Everywhere... You Just Have to Ask

[Richard Ellis]

As I've been reading BP posts and listening to HOURS of podcasts, there was just one thing that I never could get myself to believe: that money is everywhere.

I work full-time in Construction (the finance role) in Orlando, FL, and honestly I don't necessarily like my job. I'm good at finance, but I've always had an entrepreneurial heart. That is what initially peaked my interest in RE. I've always wanted to retire young and after finding BP and hearing podcasts from @Brandon Turner

 and @Joshua Dorkin I realized that RE could be my ticket. 

One of my biggest challenges being a 25 year old and just recently out of MBA school is that I needed a couple of years in order to save enough money to get serious about real estate investing. I talked to my father about investing in my RE buy and hold business and he wasn't having it. Then the craziest thing happened...

The next day I walk into work (still needing a cup of coffee) and one of the construction project managers (PM) walks up to me and the conversation went something like this:

"PM: Hey, since your dad shot you down yesterday, I know that you are needing investors to help you get started in real estate. I think you've got a good head on your shoulders and I think I could scrape together $30,000 to $50,000 to help you get started in exchange for 8% interest. Also, since I'm in construction, I know a bunch of great contractors that could put "sweat equity" into the deal and rehab properties for you in exchange for interest payments on what their work would have cost until you pay them off.

Me: Seriously?

PM: Yes, I really think you've got a solid plan put together and I want to help you get there.

Me: I'm meeting with investors and real estate agents for the next few months to get my foot in the door, but when I find a killer deal I'll let you know and we can do this thing."

Needless to say, that conversation woke me up more than a cup of coffee ever could!

No lie, just talking to him for 20 minutes about my RE buy and hold plan the day before peaked his interest enough to put $30-50k on the line. @Brandon Turner

 always says that RE is sexy. I guess he was right!

[David Goossens]

Great story! When I got started a few years ago, a similar thing happened to me. I was at a hockey game and ended up seeing my friends dad there. He asked me how I was doing and what my career plans were, since I had just finished Undergrad. I explained my plans to get into commercial construction while also investing in RE. Two days later I received an email from him saying that he has always wanted to invest in RE but never wanted to interface with tenants or contractors, and if I was willing to handle the operations side of the business, he would partner with me. It's crazy how things all of a sudden fall into place. I used to think money was hard to get. I'm now finding that good deals are much harder to come by. Congrats on getting started!