I am sitting on an airplane. My family is with me. We are flying to Hawaii. Tonight we are going to see a good friend, Darren Sager. It’s been a while and we are excited! And in another two days, we’ll see another good friend, Brandon Turner. We are notably less excited about Brandon, as you can imagine, but have made peace.
We are meeting in Hawaii to mastermind. All three of us have been increasingly active in real estate over the past year, and once in a while, a getaway like this is necessary.
Now, while we are here to work out some plans, at least one day will be more play than work. Darren turns 50 next week!
Overall, this trip has a bit of a surreal flavor for me. You see, I like clarity. I like definiteness. There is nothing less appealing to me than lack of definiteness. And yet, that’s exactly how I feel. I feel like I am stuck in no man’s land. Darren, let’s face it, is an older guy. I mean, a quite good-looking and accomplished, but an older guy.
Brandon is just a baby.
And then there is me—at 43, neither this nor that.
What am I? How do I fit in? Am I not old yet, or am I not so young anymore? Am I just starting, or am I finishing?
That feeling of not knowing your place that I am trying to describe is prevalent among new investors. I certainly felt it in my day.
So, today, with some very simple advice, I am trying to clear up that feeling for you newbies as it relates to one of the most important aspects of REI: raising money. When you are done reading this article, you will have clarity!
To Preface This Discussion
In the world of real estate investing, we have two main hurdles to clear: finding deals and finding money to finance those deals. Both are challenging, and both are often used as an excuse to not get into the game. There was a time not so long ago when finding deals was easy, but funding was hard. Some people used that as a reason to stay on the sidelines. Today, funding is everywhere, but good deals are not.
I am telling you this to forewarn against excuses. Excuses are easy to find in any cycle if you look hard enough. The question should never be why should I not do this; the…