If you're a beginner or even an experienced investor, you should NOT buy apartment buildings or hotels through auctions. Why? Three reasons: 1. You need cash, lots of it - sometimes, it's all required upfront - or you need to close in 30 days or less. I syndicate my deals so I need 60 days to raise all the money from private investors. 2. You have 30 days or less to do your due diligence and in some cases, this is not enough time, especially for the bigger apartments (100 units or larger) and hotels. Sometimes getting an inspector, or contractors to give you the renovation or capex estimate - takes 2 to 3 weeks. Worse, some auctions don't give you an inspection contingency, so you buy "as is". That's not good for a newbie to do. 3. Lastly, you are competing or BIDDING against other investors who are more experienced or better capitalized than you. Guess who wins? Having said that, there are other ways to buy foreclosures that don't involve bidding at auctions. Who wants to know these other ways? Let me know in the Comments below and I will tag you when my next post about this comes out.

Short answer: through posting everyday on TARGETED social media platforms. In fact, one of my business partners - Wen - helps me raise private capital and he does so solely on social media. One time, when I was about to acquire 2 hotels and build a $110M hotel/condo project, I challenged him to raise private capital quick. He raised $12M of OPM in just 12 weeks - all through social media. Which social media platforms and what should you post? The Right Social Media Platforms 1. Right here on our FB group - Apartment Investing Secrets. Why? We have 35,000+ apartment investors and based on a survey we did a while back, we estimate we have more than 2,000 accredited investors. In fact, the majority of capital that Wen raised in 12 weeks was through our FB group. 2. Other FB groups that talk about real estate investing. 3. LinkedIn but target the ones you want to connect with by searching for the hashtags they use in their posts (related to real estate investing). What Should You Post? Remember 4E. Your post should... 1. Educate 2. Engage 3. Encourage; and 4. Entertain This post is an example of an educational post. My post last Sunday asking people's opinion on what Financial Freedom means for them, is an example of an engaging post. My post of my face besides 2 checks of $407,000 each is an example of an encouraging post. Just by doing this, DuWayne Gregory, one of my Mastermind members was able to line up $250,000 in private capital in just 12 weeks just by posting on social media. DuWayne is so confident of what he achieved in a short span of time that he is now part of a real estate deal where he will raise $2.5M. You might be saying, "But Mike, I am not a social media person." or "But Mike, I don't have time for social media."

Is there any out here? I already have the lender. Need help with getting down payment money.