Start with a hard-money lending fund. Capital turns over in 3 to 6 months, announcing you have money brings deal flow straight to your inbox, and evaluating deals often opens doors to other investments beyond lending.
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The other reason why I love starting a private money or hard money lending fund, yes, you get great turnaround with your money, 3 to 6 months, but also you can start telling everybody, hey, I've got money and I'm looking for deals. What happens is when you start telling people that you have money and you're looking for deals, your inbox is gonna be flooded with incredible deal flow from everybody in your area. You'll be able to start shopping through different deals, whether they fit your thesis or don't. And what it does is get you in the world of capital and deal flow. And what happens often enough is many hard money or private money lenders get their hands in a bunch of other deals, and it ultimately evolves into other things. That's why I tell everybody on your first fund, if you don't know what to do, start a hard money or private money fund.