A friend of mine that recently started in real estate has found some good buy and hold real estate deals. He inquired to me that he has difficulty in convincing family, friends and professional busienss people he knows about investing in his real estate. He stated he gets frustrated because some people have offered to finance the deal but want him to do all the work and they want at least a 50% equity interest in the property. Other potential financers that have their money in a savings account earning 1% interest view his deals as too risky. I inquired to him if they understand the money is secured by the property, etc. etc. He stated yes and even have walked people through the process but after they get all the facts and ask all the questions. They are not interested. He stated that even has offered 10% to $12% interest for short term financing.
My friend ask my advice as to why these people he knows will not loan him the money. I am puzzled. Thus, I request the DG members input to share with him. Thanks and good luck on all your deals. Believe and Achieve! Indiana-Joe
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