Guillaume Black argues most real-estate investors chase buy-and-refinance deals that rarely profit, leaving them over-leveraged. Instead, build cash first through flips and joint ventures, then fund your own deals. Compound wealth, not debt.
Chapters
Most people are doing deals that don't make money. That's because we are taught to raise money from investors to put it into buy refinance type deals that never turn out to be as good as we thought. We learn to borrow our way into building our portfolio but never how to make the money that will build our portfolio. We don't learn to do or make deals and we just expect to find deals that are somehow going to magically stack. And that's why people don't want to offend the vendors and they offer too high and then they end up stuck with overleveraged properties with company interest they struggle to pay back to their investors. Instead, learn to make your own money in property by building and growing your pot with flips and assisted sales type deals, working with JV partners on profit shares if you need to, until you can start investing your money in the properties you own. Compound your wealth, not your debt.