Christian Osgood went from $10,000 and bad credit to owning 300+ rental units. He says find the deal first, then figure out debt and equity, not the other way around. Network with operators, ask sellers what they need, and start doing deals instead of waiting for perfect credit or cash.
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This dude had nothing not even very long ago. Now you got 300 and some doors. I got to recount them again, but over 300 doors. All you had was $10,000? Yeah, about $10,000 in a bank account. Okay, so what if someone's listening with $10 grand but they got shitty credit? Same exact game would not have affected any deal that I did whatsoever. I had zero credit checks. No one asked, no one cares. Everyone starts from somewhere. You have— it's kind of like getting a first job. Like, sure, I know, but I need a little bit to do it. But once you have the experience, you have the experience. You can absolutely get in just by learning, Doing a deal, learn as you go. So here's where most people get lost. They start with the money. They go, I don't have the money, so I can't buy the real estate, or whatever. This works for business or anything else too. People think that the money enables you to do the deal. It goes in the order of deal, then debt, then equity every single time. Equity is the money you bring to the table to close the deal. It could be borrowed, it could be with a partner, it doesn't matter, but it goes in that order. You have an opportunity that is going to make money. People go in it without anything to sell, and they're like, well, I need to raise the capital first. It's like, raise the capital for what? You don't have a deal. It's like going to market with no product, being like, one day I will have a product and I want you to invest now. That What would be hard to do? You reach out and you map the people who've already done the thing that you want to do. That's step 1 to anything you want to do. I found that I want to network with the people who are winning the game. That was the solution. No one had freaking asked the sellers what they actually need.