REAL ESTATE INVESTING FOR BEGINNERS: We all need funding at some point or another for our real estate deals. Our guest, Dave Seymour, lends some great insight on how he get started with real estate investing, and where he’s at today with his real estate investing business 20+ years later. Dave was on the hit A&E TV Flipping Boston for four seasons, and during that run of the show showed the importance of having private money for your real estate investing deals.
PRIVATE MONEY FOR REAL ESTATE: If you want to expand past wholesaling real estate deals you’ll at some point need money for your rehabs and income-producing properties. One of the best ways to bridge the gap and start increasing your real estate investing profit potential is by having the funds lined up not through a hard money lender but through private money. The difference between interest rates and points is substantially different which Dave and Jason discuss in this episode. In today’s lending world a hard money lender may charge you 11%-18% plus 3-6 points and that’ll just completely eat up your deal. On the other hand, with a private money lender, you’ll pay 6%-9% and in most cases not have to pay points. You can see the difference in that a private money lender is the way to go and will boost your deal profits through the roof.
It doesn’t matter if you’re a real estate investing beginner or a seasoned veteran wholesaling real estate. The best way to build wealth is to have passive income coming in no matter what you’re doing in life. Having private money lined is a way for you to get there and start building up a portfolio of real estate properties paying you every month.
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