Where do I get the money?

[Angel Reyna]

Currently looking at this property but don't have any money to go with it. I think it's a good deal. Would make at least $600,000 a year. The property is $15,550,000 Anyone know how I should get the money? I'm pretty new to real estate but I know this is a money maker.

[Cary F.]

@Angel Reyna

You could analyze the numbers and find that you could buy the Nike Company or Coke in what seems like a great deal. Just ask Warren Buffet! He does it. 

But if you have no money, or no training in accounting, or no concept of formal finance, or no negotiating power, or no track record, and no deal analysis skills, then you will have no deal. 

How many real estate books have you read? Have your read 'What Every Real Estate Investor Need to Know About Cash Flow"? If not, you must. How did you come up with this goal of 50 units in 2 years? Is that actually possible? 

Don't let the tone of people on this site fool you. They want you to vote their comment up. In order to succeed, you must understand deal analysis, finance and accounting. You must also obtain mentors and you must have money or assets to lever against. 

Shooting for the start IS awesome and it's great that you're doing that. But you don't get to the stars in 2 years. You get to them in 10, 15 and 20 years. One of the biggest real estate developers in Cleveland started with a single duplex. Now he owns sky scrapers. Pretty awesome.