It’s been said that you can get rich by using your own money, but you get wealthy using other people’s money (OPM). Examples of OPM include:
- Bank Loans
- Hard Money
- Seller Carryback
- Private Money
- Credit Cards
- Transactional Funding
- Gap Funding
Most people are familiar with most of these OPM sources, but uncertain how to access them so they can be used for their real estate investing. One of the more mysterious sources is “gap funding.”
What is gap funding?
Here… imagine strolling across the sand of an exotic beach. Just you, the breeze, the ocean and a bottle you noticed that washed ashore. Inside the bottle, a rolled up piece of paper. If you’re following me here, you’re intrigued. However cliché it may be, you’re hoping for a treasure map on that piece of paper.
You pick up the bottle, pull out the old weather-beaten piece of paper and sure enough…
Well, it’s a treasure map. Is it real? It certainly looks authentic, and the “X” that marks the spot isn’t too far away. What do you have to lose?
So, you head home, pack a backpack of some snacks, tools, a change of socks (just in case) and you head out to find this hidden treasure.
The map takes you to the river at the edge of town. A small boat ride down river is required. Once ashore on the other side, you’ve got a short journey through heavy vegetation. Luckily, you brought your machete. After a few miles and several swipes of your blade clearing the brush, you see the light.
It’s a bright light!
It’s shiny, too.
You rub your eyes to confirm what you’re seeing.
You can’t believe it.
It’s a giant pile of gold!
Yep, the same type you’ve seen in the movies a million times… the mountain of gold coins, jeweled necklaces, diamond crusted chalices… all there before you for the taking, but…
There’s a problem!
Between you and that giant mountain of gold is a chasm that runs so deep you can’t see the bottom… and it’s that chasm that stands between you and your treasure.
If you only had a bridge to cross the chasm???
Well… that’s exactly what gap funding is, that simple little bridge needed to reach a successful completion to your real estate deals.
I remember my very first deal more than a decade ago where I was introduced to gap funding.
I had been driving the neighborhood looking for abandoned houses. When I stumbled upon one, I contacted the seller, had a quick conversation and shortly, thereafter, had the property under contract.
It was a smokin’ deal of which I stood to make a significant five-figure profit, but I had a problem!
Yep, you guessed it.
I had what was equal to that chasm standing between me and that treasure… between me and my real estate profits.
I was short $50,000.
I needed a $50,000 bridge to get to my treasure.
The Seller of all people suggested I look for a gap funder… to “bridge” the gap between what I had and didn’t have.
That’s exactly what I did.
That gap funding is what enabled me to cross that real estate chasm and get to my treasure, of what turned out to be a $26,000 pay day, on my very first deal.
I remember it like it was yesterday.
I’ve called on gap funding countless times since to complete many a deal. It’s been an invaluable tool in my toolbox. Even if I didn’t need it, knowing I had access to it allowed me to move forward in my real estate investing with zero fear or concern of putting deals like these under contract.
Here I am a decade later with more than 1,000 deals under my belt… and gap funding at the ready for anything the jungle may throw at me.
There are multiple sources of gap funding available today, and one that Epic Pro Academy members are using to bridge the gap between them and their real estate profits is EpicFastFunding.com.
Once you have your funding in place, lead automation is what will take your business to the next level. You can learn all about it in our new eBook, downloadable for free here.
- It’s been great meeting you virtually. Would you like to meet in person? Our next live event is right around the corner! Go to EpicIntensive.com for the details.
- Need money? We have secured more than $15,000,000 of funding for the Epic community, people just like you. Get access to fast cash for your real estate investing business with our “one-of-a-kind” credit-based funding program at EpicFastFunding.com
- Need time? Work on your business rather than in your business by leveraging the time of others. Access free information and find real estate-trained virtual assistants to help you free up your time. Learn more at VAsForRealEstate.com.
- Need training? The ultimate training environment for real estate investors: Version 3.0 of The Epic Pro Academy! New look, new lessons & new content – we’ve got everything you need to know to get your first paycheck!
- Need someone to do it all for you? If you’re an Accredited Investor, you can diversify your portfolio by hitching your wagon to our train and share in the profits. Go to EpicWealthFund.com to download the executive summary.