How would you like to know the specific words that you needed to say to open up a nearly LIMITLESS TREASURE TROVE of real estate funding with your personal name and your personal deals to benefit? If you’re in the mood to say “open sesame” to full funding for your deals that you never have to pay back, say, Aladdin! I’m Carole Ellis, and I’ll give you the exact details you need to make that vault open for you in Episode 18.
Let’s get started chanting some magic words, shall we? This stuff is so good, I’m not even going to make you wait for it today. You may recall in episode 13 we discussed how to basically guarantee yourself government funding for your real estate deals with our government grant funding expert, Chris Johnson. If you missed that episode, I highly, HIGHLY recommend that you listen to it next. You can play catch-up by going to www.rei.today/13 or check out more success stories from people who have gotten tens and even hundreds of thousands of dollars in government funding for their real estate deals by going to www.rei.today/grants.
Now, however, let’s get into some really IMPORTANT words that you need to be saying every time you think about applying for some government funding. To demonstrate what I’m talking about, I’m going to take a real live success story from Atlanta, Georgia, and we’re doing to do a little dissection to determine exactly what this guy, his name is Eric H., did right when he applied for a $15,000 government grant that enabled him to buy all sorts of major equipment that he needed for his construction business.
First, I’m going to read you exactly what Eric has to say about the subject:
“I contacted Chris about funding for buying supplies for my business,” he writes. “I promptly received a list of resources and now I have about $15,000 in equipment and supplies.” In the interest of full disclosure, the exact amount of money that Eric received and subsequently spent on his development supplies was $14,804.00. Think you could live with $196 fewer than $15,000 for your deals? Just this once? Thanks.
So we know what Eric got, but the key here is knowing how he landed it. Eric did something very simple and very repeatable. He said “open sesame” to the government, just not in those words. And, here’s the kicker, he said it to the RIGHT TREASURE TROVE. If you google the term “government grants for real estate rehabbing supplies” you will get about half a million results. And I’m going to tell you right now, not all those results are relevant to you. Here is a VITALLY IMPORTANT QUESTION that you MUST ask yourself immediately upon beginning to review your findings. Every time, with every program, say to yourself:
AM I ELIGIBLE?
Here’s what I mean. There are a lot of grants out there and a lot of money behind those programs that are intended to help small-business real estate investors who make up just about half of my audience. As Chris would say, “I’m about to make half of you very happy, and half of you very sad.” Here you go: a LOT of that money is earmarked for WOMEN. Now, if you’re a woman, that’s great news. If your name is Eric H., that’s not such good news, and the eligibility is not always clear. A grant titled something to the effect of “Small Business Rehabbing Support for Our Communities” may have, in the fine print, that it is just for women or may be sponsored by a female advocacy group. If Eric H. (or any other guy) spends a lot of time applying without checking that fine print, he will have just flushed his time down the toilet. Bad move.
So check the fine print or, as we have talked about previously in episode 13, call up the program personally and just ASK who they’re looking for when they’re hoping to hand out money. They’ll be happy to tell you. We all know the government LOVES TO SPEND and giving you grant money is a good way to do it. So the deck is really stacked in your favor.
But let’s get back to “Open Sesame.” So once you determine what type of loan you need, then you say the magic words. The person on the other end of the phone gave them to you when they told you who was eligible for the grant. Let’s imagine that Eric called up the grant program he landed the 15K and said, “Hey, am I eligible?” And they said, “Sure, if you’re a small business owner located in Atlanta, Georgia who needs less than $20,000 worth of work-related equipment.”
Now here’s what Eric should have – and clearly did – do with whatever that person said, exactly. HE WROTE IT ON HIS APPLICATION! He said, hey, OPEN SESAME, I’m a small business owner located in Atlanta, Georgia, who needs less than $20,000 worth of work-related equipment!”
And then, wonder of wonders, just like Aladdin in the treasure trove the grant program wrote him a check and he bought that equipment. As Chris likes to say, “It’s really not hard. You just have to follow directions!”
Now, if you think that you could follow directions, then you’re going to want to hear this next little bit of information. You may remember that I told you that REI Today had a special opportunity for my listeners to meet Chris Johnson IN PERSON at our GaREIA general meeting. Well, bad news: You missed that meeting because it was Monday, March 14. The good news is that if you are a GaREIA member, you’re going to get a very special opportunity to hear Chris presentation, in its entirety, again over the weekend. If you’re not a member and you live in the Atlanta, well, you should be! Leave me a message in the comments section at www.REI.today and I’ll contact you personally and get you signed up. If you’re NOT a GaREIA member, well, I Have something for you, too. Head on over to www.REI.today/grants and check out our Grant Funding Success Series. It gives you direct access to the details of how real people all over the country have leveraged their real estate investing businesses and their own unique abilities and characteristics to land money to do their real estate deals that they never have to pay back. As I’ve said: You LITERALLY Can’t Afford to Skip This!
And REI Nation, if you’re thinking about doing deals then the odds are good that you’re thinking about real estate you’re thinking about BUYING. Wouldn’t it be INCREDIBLY USEFUL to know in advance, before you ever purchased an investment property, if the market was going to demand a certain EXTREMELY HIGH-DOLLAR CHANGE be made to that property before you were able to sell it? If you want to avoid these perilous markets (or, hey, you may find they’re a PERFECT FIT for you once you have this insider information) then you can’t miss the next episode.
REI Nation, thanks for listening in and, until next time, always remember:
Your best investment is your own education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.