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Here is a situation that we all run into from time to time. You have on hand what you believe to be a good deal, but you cannot get any money to make an offer on the home after you called everybody you could think of – hard money lenders, banks, family.

First, ask yourself why everybody is turning you down. It is either the people you are trying to get money from do not have confidence in you, or your credit isn’t good enough, or it is not really a deal (How do you know you have a deal if you don’t have a buyer?)

Normally, if it is truly a deal, the banks and hard money lenders should not deny you a loan. If they are rejecting you, it means somehow you don’t meet their standards. Maybe there is another way to structure the deal or offer some kind of collateral to make the lender more comfortable or get your family and friends over their fears.

So how can you do a deal when you don’t have the credit to borrow and you don’t have any cash? I do have a few suggestions as I have been in that boat before – all successful investors have been there.

1. Do not think you have talked about money to everyone. Make a list of everyone you know (and everyone you know who knows someone else) who may have money to lend i.e. doctors, lawyers, etc. Even if this process fails to produce the money for this deal, it is still a useful process – it may bring up a contact or give you an idea for something else.

2. Maybe financing a deal is not what you should do in this situation. There is a way to structure the deal where you can control the house for a while until you sell it. Put the property under contract – you will only risk a small amount of earnest money – and try to get 30 days to find a buyer for it – then either assign the contract or double close the deal.

3. Maybe this is not the deals you should be starting with – meaning, maybe you should start out bird dogging, finding deals for some of the big investors in your area right now while you build your contacts and develop your relationships.