Every real estate investor remembers their first deal. I remember mine like it was yesterday. It was a duplex in the sprawling metropolis of Ironwood, Michigan. I had to beg, borrow and steal (not literally steal, but you know what I mean) every last dime I could do close the mortgage loan with a 20% down payment. I was dead broke for a while until my property started cash flowing. For my first few real estate deals, the story was much the same. Scrape together the funds and get a mortgage or use creative seller financing.

My first private money deal, however, was quite a different story.

After beating the streets and pounding the pavement for what seemed like a long time, I had finally gotten a private investor interested in sitting down with me that was ready to write a check. Boy, was I nervous. That day I felt like I had felt in the past at job interviews. Palms sweaty. Flushed face. Nervous energy.

I was proposing a Read More→