Other peoples money refers to the concept that if you are savvy you can get loans to fund your real estate empire. That is how I started. I borrowed a small amount on my personal residence and kept trading up.

For all of you that have trust funds or make $250+ per year and need places to put your money. We love you! You can skip this post and move on to the next. Will you please stimulate the economy? Will post regarding this topic in the future.

For the rest of us read on. I started in 2002 which was a much better time. Money was free and everyone got financed. Some people took advantage and some were scammed. It is irrelevant at this point. The economy dived. The ramifications were epic. Since 2006 we have been jinked like the curse of the Shoe Bomber. We all suffer. Getting a loan is so arbitrary now and the rules change constantly. The good news is that the guidelines will vary bank to bank. I have been refused at one bank because I own too much property and was happily refinanced by another. Never give up. If you have a project you believe in keep shopping from bank to bank. Eventually you will find financing.

Now is the time. The economy may not have reached the bottom but there are values to be had and Other Peoples Money is at a record low interest rate.