Become a multi-millionaire in real estate

But Dave, I thought you had plenty of money from having done all those deals!"

My answer? I don't care whether it's your first investment, or your 500th, you can NEVER have enough financing lined up!

There are many little skills you need to become a multi-millionaire in real estate, but there are two BIG skills you must have, in this order:

1. Marketing.
2. Financing.

If you don't have a steady stream of leads in the door, then you won't see the good deals, you won't make offers regularly, and you won't make real money. We've talked about that before.

But let's say you're seeing plenty of leads, and...WHOA!...THIS deal looks like a great one! What happens now?

The investor with more financing options, wins.

Look, I'm living proof that you can do deals with no money down and no financing. But sometimes you'll come across a deal that does require some money for rehab, temporary financing, whatever. When you can get your hands on funds quickly, you're golden. That's never been more true than in this recession we're in.

The stronger your financing, the stronger your negotiating position.

I talk about the whole variety of techniques I personally use to arrange financing for my deals. I didn't get to the point I'm at now--controlling close to a quarter BILLION in properties--without having a few tricks up my sleeve!

If you're content with a smaller--but still very comfortable--real estate career, then more power to you!