Newbie financial question.

[Brian Brown]

As a newbie in REI listening taking in all the info possible there is a lot said about not using your own money, zero down, OPM, private money, HML...ect. Also the debate about know and get financing first to know your numbers and others say get the deal and money will come. My questions are 1. which way is the correct way get financing first or find a deal and I suppose this completely depends on the exit strategy. 2. With Private or Hard money are you getting 100% of the money needed or are they no different than a mortgage with needing money down if so where do you get the money down from if not using your own money. 3. Are Private money rates good enough for buy/hold deals. Thanks in advance BP nation.

[Eric James]

There is a segment of people that have no money and are fascinated by the idea of being able to get rich without having any money. The problem with this is that even if these people were to make money in real estate they would soon blow it all. Because they don't have the self control and financial discipline to become wealthy for the long run. Don't be one of these people.