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Using Other People's Money Michel Lautensack
Like many real estate investors, I started out investing in real estate using my own money and credit. This worked fine for the first few deals. But eventually, as I purchased 20 to 30 properties, my lender at the time, Washington Mutual, cut me off from further deals and my personal funds dried up. I had built up a great deal of real estate equity, but was locked out from doing other deals with my traditional lender and could barely pay for my own groceries.
I had to find another way to fund real estate deals or
my investing career was over... | |
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