Welcome to the Get Real podcast, your reality therapy for personal, business and real estate investing success. Angela Thomas and Ron Phillips of RP Capital are your hosts for the Get Real podcast… with the emphasis on REAL.
Today’s podcast addresses the old saw that you can invest in real estate without money of your own. Some people are able to make deals without having money. Certain deal types lend themselves to that, others don’t.
A lot of seminars teach that you don’t need money to get started. Ron got started with no money by finding a person who would fund his deals. The agreement fell through, but that’s another story.
What Ron did have was sales and negotiation skills, time and a huge drive to succeed. He had been laid off from a sales job and had no income coming in. His first deals were fix and flips with his brother.
People who buy and sell real estate with no money of their own are not, technically, investors because they have not put capital in play to earn a gain. They are in the real estate business, but aren’t investors.
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What’s inside:
- Investing, by definition, requires capital
- Deal making is the hard part
- Attend local REIA
- Partner with a REIA member
Mentioned in this episode:
- Reach Ron & Angela: Get Real Estate Success
